Individual Retirement Planning
Planning for retirement is easier when you work with the right people. Our Financial Services Team will take the time to understand your situation and help you develop a customized retirement plan unique to your retirement needs. We’ll help you select the right mix of investment vehicles that will maximize the benefits of your plan.
Some of our retirement plan options include:
A Traditional IRA is a plan that may allow you to deduct your contribution from your taxes1 and allows your funds to grow tax deferred. You are in control of your investments and mandatory withdrawals are required beginning at the age of 70 ½.
A ROTH IRA is a plan that invests after-tax dollars and allows them to grow tax deferred. The main benefit of the ROTH is that it allows you to take qualifying withdrawals tax-free after the age 59 ½ if it has existed for at least five years. No mandatory distribution is required at any age.
Tax Deferred Annuities
If you have taken full advantage of the tax benefits of a traditional and/or ROTH IRAs, then tax-deferred annuities may be a good way for you to set aside additional savings to secure your financial future.
If you recently changed jobs and have 401(k) balances in your previous employer’s plan, then it's a good idea to have those investments reviewed by our Financial Services Team. We can help you select the appropriate rollover option for your 401(k) and we’ll even fill out all the paperwork for you!
1Consult a tax advisor
All applications subject to approval.
Bar Harbor Financial Services is a branch office of Infinex Investments, Inc., an independent registered broker-dealer offering securities and insurance products which is not affiliated with Bar Harbor Bank & Trust.
|Not a Deposit||Not FDIC Insured||Not Insured by Any Federal Government Agency||Not Guaranteed by the Bank||May Lose Value|