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CASH MANAGEMENT

Individual Retirement Accounts (IRAs)

The average American who retires at age 65 requires retirement savings of close to a million dollars. Will you be ready? First American Bank & Trust can help you save for retirement through an Individual Retirement Account (IRA). The sooner you begin to save, the easier retiring will be.

First American Bank & Trust can set up a Traditional IRA that allows income earners to make annual contributions which may be tax-deductible.

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First American Bank & Trust can set up a Roth IRA to give you the ability to invest your after-tax dollars today, let the investment grow tax-deferred and take qualifying withdrawals tax-free.

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First American Bank & Trust can set up an Educational IRA for you to make contributions for the future education of a child.

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First American Bank & Trust can set up a Simplified Employee Pension (SEP) plan that can provide a significant source of income at retirement. Employers can set aside money in retirement accounts for themselves and their employees.

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