Retirement is closer than you think. Get there with a traditional or Roth IRA — and start thinking about that bucket list.

Key Features

  • Competitive Dividends
  • No Setup or Maintenance Fees
  • Tax Advantages*
  • Save for retirement with tax advantages1
  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees, monthly or annual maintenance fees
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2021)1
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • $500 minimum deposit to open

Have a plan with another institution? Kemba is happy to help — roll over your balance hassle free. Just contact one of our representatives to get started:

IRA Service Center – 513-762-5070 / 800-825-3622

Visit our IRA Service Center online to learn more.

1Consult a tax advisor.

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70½

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.

Create an easier transition into college for yourself and your student by setting up a savings account early. A Coverdell Education Savings Account (ESA) provides a tax-free safe place to grow competitive dividends and financial confidence for a new stage in life.

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses1
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply2
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 303
  • The ESA may be transferred without penalty to another member of the family

Interested in learning more about opening a Coverdell Education Savings Account?

Contact Octavia Wealth Advisors.

Kemba does not open Coverdell IRA accounts. Investment vehicles offered through Octavia Wealth Advisors may be in a form that is not federally insured.  

1Qualified expenses include tuition and fees, books, supplies, board, etc.

2Consult your tax advisor to determine your contribution limit.

3Those earnings are subject to income tax and a 10% penalty.

*Consult a tax advisor.