IRAs

Farmers & Merchants Bank has been serving our community for a long time, and we're not going anywhere. We hope you feel the same way. That's why we believe so strongly in helping our customers ensure their financial security for retirement and beyond through a variety of retirement accounts. If you're not sure which one is right for you, we'd be glad to sit down and help you decide.

Regular IRA
This option is a tax-deferred retirement account for investors under 701/2 years of age. Annual contributions can total up to $2,000 and they may be tax deductible (consult your tax advisor). Taxes are deferred until payout, starting at age 591/2.

Variable IRA
This account offers the same features as a Regular IRA but interest rates are adjusted periodically, rather than remaining fixed.

Roth IRA
The Roth IRA allows contributions from people under 701/2, provided they have earned income. Contributions are generally limited to 100 percent of earned income or $2000, whichever is less. Contributions are not deductible, but earnings are tax deferred and potentially tax-free.

Education IRA
This investment account is a nondeductible account that features penalty-free and tax-free withdrawals specifically earmarked for a child's higher education expenses. Contributions may be made on behalf of a child until the day before his or her 18th birthday.

Now that we've looked at the bigger picture, let's move on to ways we're making your day-to-day life more convenient.