Financial Matters: Retirement planning

PORTSMOUTH, Va. (WVBT) - It's never too early to start planning for your future.  Stephanie Bard with BayPort Financial Services has tips you should put in practice now.

There are 2 types of IRAS - Traditional vs. Roth
(Similarities)

*Contribution limit

*10% Penalty
*Must have earned income to make contribution
 

(Differences)

*Income Limits
*Age Constraint
*Deductibility
*Taxability
*Withdrawals
 

For more information on BayPort Credit Union, log onto their website:  bayportcu.org