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TRADITIONAL & ROTH IRAs

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Plan for your future with confidence, starting today.

Invest in your next chapter.

Saving for retirement doesn’t have to feel overwhelming. RVA Financial offers both Traditional and Roth Individual Retirement Accounts (IRAs) designed to help you build long-term financial security with guidance you can trust.

What Is an IRA?

An Individual Retirement Account (IRA) is a smart, flexible way to save for retirement—no matter where you are in life or your career. Whether you’re just starting out, building momentum, or preparing for the next chapter, an IRA helps your money grow with valuable tax advantages.

Traditional IRA vs. Roth IRA

Traditional IRA

A Traditional IRA allows you to make tax-deductible contributions (depending on income and tax filing status), with taxes paid later when funds are withdrawn in retirement.

Contributions may lower your taxable income now
Earnings grow tax-deferred
Withdrawals are taxed as income in retirement
Required minimum distributions (RMDs) begin at age 73

Roth IRA

A Roth IRA is funded with after-tax dollars, but qualified withdrawals in retirement are completely tax-free.

Contributions are not tax-deductible
Earnings grow tax-free
No required minimum distributions during your lifetime
Withdraw your contributions at any time without penalty

*Consult a tax professional regarding eligibility and tax implications.

Why Open an IRA with RVA Financial?

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Opening an IRA is one of the most effective ways to invest in your future.

Key benefits include:

  • Tax advantages that help your savings grow faster

  • Long-term financial security for retirement

  • Flexible contribution options based on your income

  • Peace of mind, knowing you’re planning ahead

An IRA complements workplace retirement plans or stands strong on its own if you’re self-employed or don’t have access to an employer-sponsored plan.

Who Can Benefit from an IRA?

Almost anyone with earned income can benefit from an IRA, including:

  • Young adults starting their first job

  • Working professionals building long-term wealth

  • Parents planning for financial independence later in life

  • Self-employed individuals without employer plans

  • Anyone seeking tax-smart savings options

It’s never too early—or too late—to start saving for retirement.

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Come in to open an IRA

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1700 Robin Hood Road
Richmond, VA 23220

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If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 804-359-8754 for assistance. All products and services available on this website are available at all RVA Financial Federal Credit Union full-service locations.