Personal Wealth - Private Client Services

Set up your IRA by calling us at 1-866-4UMPQUA or stop by your neighborhood Umpqua store.
You set up an IRA savings or certificate of deposit account with us. Every year, your principal grows, thanks to your contributions and the interest you’re earning. Depending on the IRA, you may be eligible for a tax deduction on your contribution today or to take a tax-free withdrawal at retirement down the road. (You must meet certain criteria, so talk to a tax advisor for more info.) What’s the benefit? You have more funds to earn interest on, and you may fall into a lower tax bracket once you retire. The government lets you contribute a certain amount to your IRA every year. In 2013, the individual contribution limit is $5,500. If you are 50 or older, you may be eligible to make a catch-up contribution of $1,000 for the current tax year. Our general policy is that you must be 18 or older to open an Umpqua account. Additionaly, in order to contribute to your IRA, you must earn an income, and certain age restrictions may apply.		There are two types of IRAs - Traditional and Roth - and both have their advantages. The key is to determine which is right for you. Here are some things to consider: Which one do I qualify for? You should consult your tax advisor if you aren’t sure. Do I need or qualify for the tax deduction on my contributions? Which tax bracket do I think I will be in during retirement? Will I need to withdraw the funds during retirement or do I want them to remain in my IRA? Yes, there are a few. Give us a call at 1-866-4UMPQUA or come into your neighborhood store and we can go over them with you.
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* Securities, managed investments, insurance products and wealth planning are offered through Umpqua Investments, Inc., Member FINRA/SIPC. Umpqua Investments, Inc. is an affiliated company of Umpqua Bank. Securities, managed investments and insurance products are: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT BANK GUARANTEED • NOT A DEPOSIT OF ANY BANK • and MAY GO DOWN IN VALUE.

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