Individual Retirement Accounts

Individual retirement accounts

Consistency today creates stability tomorrow.

Individual Retirement Accounts (IRAs) help your savings grow at a steady pace. When it comes time to retire, your nest egg will be ready and waiting for you.

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How they work

When you contribute to your IRA, your money is invested in securities varying in risk. These investments, along with compounding interest, help your savings to grow over time and attempt to outpace inflation. There are two types of IRAs—Traditional IRAs and Roth IRAs. Each offers a different tax advantage.

With a Traditional IRA, your contributions are tax deductible. This allows you to reduce your taxable income for the years you contribute. However, your savings and the growth you accumulate will be subject to tax when you withdraw your money. Traditional IRAs work best for those who expect to fall in a lower tax bracket in retirement.

Roth IRAs let you contribute after-tax income. You’ll pay taxes on the front end, and you won’t pay taxes on your savings and growth when you withdraw your money. Roth IRAs work best for those who expect to fall in a higher tax bracket in retirement.

Traditional IRA

  • Tax deductible contributions
  • Earnings taxed on withdrawal
  • Contributions up to $6,000 per year for those aged 49 and under
  • Contributions up to $7,000 for those aged 50 or more
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Roth IRA

  • After-tax contributions
  • Withdraw savings tax-free
  • Contributions up to $6,000 per year for those aged 49 and under
  • Contributions up to $7,000 for those aged 50 or more

A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 591/2 or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRA penalty tax. Limitations and restrictions may apply.


Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. LCNB National Bank and LCNB Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using LCNB Investment Services, and may also be employees of LCNB National Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, LCNB National Bank or LCNB Investment Services. Securities and insurance offered through LPL or its affiliates are:

  • Not Insured by FDIC or Any Other Government Agency
  • Not Bank Guaranteed
  • Not Bank Deposits or Obligations
  • May Lose Value

The LPL Financial registered representatives associated with this site may only discuss and/or transact securities business with residents of the following states: AK, AL, AZ, CA, CO, CT, FL, GA, IA, IN, IL, KY, LA, MD, NC, NJ, OH, SC, TX, VA & WV.