IRAs

Take advantage of tax breaks up front, and make tax-deferred contributions to maximize your savings. A Comerica traditional IRA is a good choice for those who can’t contribute to a work-sponsored retirement plan and includes competitively priced CDs to help you save even more.

Earnings^{1, 2} accumulate tax-deferred and aren’t taxed until withdrawn – when you may realize a lower tax rate.

Contributions^{1, 2} may be tax-deductible and can be withdrawn penalty-free for certain expenses, such as a first-time home purchase.

Distributions^{1, 2} are required after age 73 and are eligible for Federal withholding and may be eligible for State Withholding³.

Pay taxes on contributions up front, and make tax-free withdrawals later. A Roth IRA may work best if you anticipate being in a higher tax bracket at retirement or might want the flexibility to make early withdrawals. You can roll your traditional IRA into a Roth IRA at any time.

Earnings^{1, 2} accumulate tax-free and aren’t taxed at withdrawal – when you may realize a higher tax rate.

Contributions^{1, 2} can be withdrawn tax-free and penalty-free for certain expenses, such as a first-time home purchase.

Distributions^{1, 2} can begin at age 59½ and may be tax-free and are not required to meet a minimum annual threshold.