Over a Century of Trust and Tradition
Brighton Bank is proud to have served our clients and community for over 112 years, and we'll continue to do so for many years to come.
How do Individual Retirement
Account (IRAs) work?
A Bank IRA is a type of retirement account that may allow you to save for retirement with tax-deferred or tax-free growth. With a Bank IRA, you can choose to have your contributions deducted from your paycheck, which may help you save money on taxes. Additionally, your investments in a Bank IRA may grow tax-deferred until you withdraw them at retirement. This means that you may not pay taxes on the growth of your investment until you take the money out at retirement.
There are two types of Bank IRAs: traditional and Roth.
-
Traditional Bank IRAs may offer tax-deferred growth on your investments, but you may pay taxes on the withdrawals you make at retirement.
-
Roth Bank IRAs may offer tax-free growth on your investments.
​
If you have a Bank IRA, it's important to remember that you'll still be responsible for paying taxes on the withdrawals you make at retirement. However, the growth of your investment may be tax-free.
​
​
To ensure your taxes are filed correctly, we highly suggest you consult a tax professional for expert advice.
We're proud to have served our clients and community for over 112 years, and we'll continue to do so for many years to come.
TRACK YOUR SAVINGS ON-THE-GO
Easy Account Transfers
Move your funds among connected Brighton Bank accounts to benefit from a competitive savings rate.
Mobile Check Deposit
Deposit checks at your convenience from anywhere. Simply snap a photo of the check using your phone.
Multiple Accounts
Create multiple high-yield Savings accounts, each dedicated to a different financial goal.
Custom Tracking
Stay informed and in control with custom alerts and notifications, ensuring you're always up-to-date on your account activity.
Download the Brighton Bank App
Start exploring (and enjoying) everything we have to offer.
Questions?
We're here to help.
We're committed to offering personalized guidance to enhance your savings and help you reach your financial goals.
By Phone
Have more questions?
(901) 476-5353