ROTH IRA

Does tax-free growth sound appealing? Prefer to make after-tax contributions with no mandatory distribution age?¹ Interested in a flexible way to rollover or transfer from a previous IRA?²

A Desert Financial Roth Investment Retirement Account (IRA) lets you concentrate on earnings, by getting taxes out of the way up front. The competitive rate and tax-free growth put you on track for retirement. You also have more options for when and how you use your funds. For 2020, you may contribute up to $6,000 annually ($7,000 if you’re age 50 or older).³ Contributions may be made up to April 15 of the following year.

Key Features

No monthly or annual fees
No minimum deposit
No minimum balance
No early withdrawal penalty from Desert Financial⁴
Free Online Banking, eStatements and PAL

Members with a Roth IRA may also qualify for Direct Deposit.

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Consult your tax adviser regarding your individual tax situation. ¹Contributions may be made even after age 70 1/2, as long as the account holder has earned income (also applies to spousal contributions). Income cannot exceed a certain level, based on your tax filing status.²Rollover funds from a Traditional IRA must remain separate from other contributions.³Maximum contribution applies to total deposits made to all investment retirement accounts. Pension and qualified plans do not affect contributions. ⁴The Internal Revenue Service will assess a penalty for early withdrawals made before age 59 1/2, unless it is for a qualified distribution (e.g., death, permanent disability, first-time home purchase) or occurs after five years from the first tax year that the contribution was made.

For additional information regarding fees, please refer to the Fee Schedule.