You can establish a traditional IRA whether or not you are covered by any other retirement plan. Wages or net earnings from self-employment can serve as the basis for a traditional IRA contribution. You and your spouse can make regular IRA contributions of up to $5,500 in 2013 ($5,000 in 2012), providing your tax filing status is married/filing jointly and your combined compensation (earnings) are equal to the contributed amount. As a result, a couple can make regular contributions of up to $11,000 in 2013 ($10,000 in 2012).
You can wait as long as April 15 of the following year (the due date of your individual income tax return) to contribute to a traditional or Roth IRA account.
Deposit and Loan Products are offered to qualified customers by EVB. See specific deposit and loan product pages on this website for more detailed information. EVB is a MEMBER FDIC and an EQUAL HOUSING LENDER. Investment and Insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. EVB Investments is a trade name of the bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are:
Investment and Insurance Products referenced on these pages