Your individual retirement plan should match your goals with your risk tolerance and an appropriate blend of investment vehicles.
- Traditional Individual Retirement Account (IRA) – Allows you to contribute an amount equal to your taxable compensation up to a 2019 maximum of $6,000 ($7,000 if you are 50 or older). Contributions may be tax deductible depending on income, tax filing status and coverage by an employer-sponsored retirement plan. Qualified distributions are taxable as income.
- Roth IRA – Similar to a Traditional IRA except that contributions are not tax deductible and qualified distributions are tax-free.
- Retirement Investment Accounts – Other savings or investment accounts earmarked for retirement.
For an appointment or more information, call us at (808) 525-5159 or toll free at (877) 643-4344 or visit any conveniently located First Hawaiian Bank branch and ask to speak to a Wealth Advisor.