How your IRA can grow: an example

As we wrote last week, Individual Retirement Accounts (IRAs) are a safe, steady way to save for retirement. But how much can your money grow when it’s in the IRA?

Here’s an example. Let’s say you rollover $4,500 to an American 1 IRA at our 4.05% APY rate. After that, you contribute $5,000 a year to the account. At the end of the three year term, you will have contributed $15,000 to the IRA, plus the $4,500 you rolled over into the account. That’s $19,500. At 4.05% APY, with dividends paid quarterly, your account would be worth $21,345.99.

You would have earned more than $1,800 in those three years. Pretty cool, huh?

We have longer terms available. Stop in to any branch to learn more about our IRA products.

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American 1 Federal Credit Union

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