IRA Contributions

Don't miss the IRA contribution deadline!

A message from the Summit Financial Advisors Program

Make sure you make your 2011 IRA contribution by April 17, 2012.

If you’ve been contributing $50 or $100 to an IRA each month, there’s room to contribute a lot more. Putting $600 or $1,200 in your IRA annually is nice, but you can direct up to $5,000 into your IRA for the 2011 tax year (and as much as $6,000 if you turned 50 in 2011).¹

This $5,000 (or $6,000) annual IRA contribution can be split across multiple IRAs, both traditional and Roth. Your maximum contribution may be reduced if your modified adjusted gross income, or MAGI, is really high.¹

As for your 2012 IRA contribution … you have until April 15, 2013 to make it, but why wait? You can also make it this year and cross it off your to-do list. There’s really no point in waiting until April 2013 – if you wait that long, you’ll potentially lose 16+ months of interest and compounding on that money.

Don’t delay – contact us today so we can help you fully fund your IRA.

An IRA is one of the best ways for you to accumulate tax-advantaged retirement savings. For more information about IRAs and a free copy of the brochure, Comparing Your IRA Options, contact the Summit Financial Advisors Representatives serving the members of Summit Credit Union, at (608) 243-5000 extension 2315.

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Representatives are registered, securities are sold and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.

01032012-WR-405

¹ www.irs.gov/retirement/participant/article/0,,id=188232,00.html [10/21/11]