A McGehee Bank IRA is one of the easiest ways to save and earn interest for retirement and offers a number of tax advantages. In many cases the yearly contributions made to your IRA are deductible for the year you make the contribution. The money earned on your IRA account is not taxable until you withdraw it, usually at retirement, and with the new Roth & Educational IRA's, distributions may be completely tax free.
If you receive a lump-sum payment at retirement, you may "rollover" part or all of this amount into a McGehee Bank IRA. This can be a major benefit to you because the principal and interest earning on the entire amount are tax-deferred until withdrawal.
IRA's are just a part of McGehee Bank's Retirement Services. A McGehee Bank Trust Officer can show you how to take maximum advantage of retirement income opportunities and investment services to help you maintain a comfortable income during your retirement years.