Saving For Retirement in Your 30’s: The IRA Advantage

Your 30s are often marked by major financial milestones, such as buying a home, starting a family, and advancing your career. With so many competing priorities, saving for retirement can easily slip down the list. Still, this decade of your life is actually one of the most important times to focus on your financial future! An Individual Retirement Account (IRA) can be a great way to help you build long-term security without requiring a significant investment upfront.

Why Your 30s Matter for Retirement Planning

By your 30s, you’ve likely settled into your career and are earning more consistently than in your early 20s. This will give you a unique advantage while retirement planning: time plus earning power. Every dollar you save now can grow for decades through compound interest, making it much easier to reach your retirement goals later.

Starting early doesn’t just mean more savings; it means flexibility. A solid retirement foundation can give you greater freedom to handle life’s surprises and make future decisions with confidence.

The IRA Advantage

An IRA is one of the most effective tools for retirement savings because it offers tax benefits, flexibility, and control over investments. Even if you already contribute to a workplace retirement plan, an IRA can help you build additional savings on your own terms.

There are two primary types of IRAs to consider:

Traditional IRA:
- Contributions may be tax-deductible, which can lower your taxable income today
- Investments grow tax-deferred
- Qualified withdrawals in retirement are taxed as ordinary income
- Pay taxes when you withdraw the funds in retirement, ideally at a lower tax rate
Roth IRA:
- Contributions are made with after-tax dollars
- Investments grow tax-free
- Qualified withdrawals in retirement are completely tax-free.
- Great option for younger earners who expect their income (and tax rate) to rise over time.

For 2025, the IRA contribution limit is $7,000 (or $8,000 if you’re 50 or older). Even small, consistent contributions can make a significant difference.

Get Started with SouthStar Bank

Your 30s are the perfect time to take control of your retirement strategy. With an IRA from SouthStar Bank, you can turn today’s small steps into tomorrow’s financial independence. Visit your local SouthStar Bank branch or explore our IRA options online to start building lasting retirement security, one wise decision at a time.

Whether you’re opening your first IRA or looking to roll over an existing account, SouthStar Bank offers personalized guidance and local service to make the process simple and stress-free!

Have any questions? Reach out to our IRA experts at 512.384.3948 or IRA@southstarbank.com, and they will be happy to assist!

SouthStar Bank Mortgage Programs: Helping Texans Achieve Homeownership

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For more than a century, SouthStar Bank has been helping Texans achieve their dreams of homeownership through personalized service, flexible financing, and local decision-making. Whether you’re buying your first home, upgrading to your forever home, or refinancing an existing mortgage, SouthStar Bank’s local experts are here to help you find the right loan for your needs!

Personalized Mortgage Solutions with a Local Touch

At SouthStar Bank, we treat every loan as more than a transaction; we treat it as a relationship. As a community bank with deep Texas roots, SouthStar Bank’s mortgage professionals take the time to understand your needs, identify the best loan program for you, and guide you through every step of the homebuying process. With underwriting decisions made locally, borrowers benefit from faster approvals and genuine customer care you won’t find with larger national lenders.

A Range of Mortgage Options for Every Buyer

SouthStar Bank offers a variety of home loan programs to serve a wide range of borrowers:

Conventional Loans: Ideal for buyers with strong credit and established savings, offering competitive rates and flexible down payment options.
VA Loans: Exclusively for qualified veterans, active-duty military, and surviving spouses, VA loans offer zero down payment options and no private mortgage insurance (PMI).
ITIN Loans: Specifically designed for those pursuing homeownership without a Social Security Number.
Jumbo Loans: For luxury properties or higher-priced homes that exceed conventional loan limits, SouthStar Bank provides customized jumbo loan solutions.
Rural Living Loans: Available for customers looking for something more than a postage-stamp lot and big-city congestion.
Refinance: Refinancing options as rates change
Lot and Construction Loans: Funding options from raw land to construction and permanent mortgage financing

Empowering First-Time Homebuyers

Buying your first home can feel overwhelming but with SouthStar Bank, it doesn’t have to be. The H.O.P.E. Home Loan Program is designed to make homeownership more accessible, affordable, and less intimidating.

H.O.P.E. Loan Advantages:

No downpayment required
No mortgage insurance (PMI) requirement
No origination fees
No SouthStar Bank closing costs

While first-time buyers get to take advantage of low-down payment options, down payment assistance, and competitive fixed-rate loans tailored to fit their budget. They also get access to SouthStar Bank’s expert loan officers, who offer local expertise, one-on-one guidance, education on credit requirements and loan terms, and what to expect at closing.

Start Your Homeownership Journey Today

Whether you’re just starting to explore homeownership or ready to apply for a mortgage, SouthStar Bank is here to help you every step of the way. With local expertise, flexible loan options, and a commitment to putting people first, SouthStar Bank is more than a lender, it’s your homebuying partner.

Ready to get started? Contact your local branch or start your application today!

Welcome Blake Anderson

Blake Anderson, Assistant Vice President of Lending & Portfolio Manager | SouthStar Bank Georgetown

Blake Anderson has joined the SouthStar Bank Georgetown team as an Assistant Vice President of Lending and Portfolio Manager. Blake has five years of experience in the banking industry and specializes in Portfolio and Secondary-Market loans. Being a part of such an important milestone in people’s lives has given Blake a love for his profession. Helping them understand their options, feel confident in their decisions, and finally get the keys to their new home is one of the most fulfilling parts of Blake’s position.

Having been born and raised in Georgetown, Blake looks forward to joining the SouthStar Bank team and giving back to the community that shaped him. His deep Georgetown roots have taught him the importance of local relationships, and he looks forward to helping customers and local businesses thrive and grow!

Outside of work, Blake enjoys golfing, watching baseball, or walking the Georgetown Square. He has also become involved in the community, serving as Co-Founder and Vice President of a BNI Group called Ultra Hospitality, which focuses on networking with other local professionals and businesses. Blake also co-founded a run club in Georgetown, a testament to his commitment to keeping the community connected.

Welcome to the team, Blake!

NMLS# 2237200

Welcome Angela Sanchez

Angela Sanchez, Assistant Vice President of Lending | SouthStar Bank Harker Heights

Angela Sanchez joins SouthStar Bank Harker Heights as an Assistant Vice President of Lending. Angela brings a wealth of experience, having spent more than 2 decades in the banking industry. Leveraging her expertise and experience, Angela delivers innovative financial solutions that meet her clients’ complex needs while upholding risk management standards. By establishing genuine, long-term relationships with both new and existing clients, she consistently uncovers new lending opportunities that drive growth and customer satisfaction. Angela’s commitment to exceptional service has earned her clients’ confidence and loyalty over the years. She finds joy in helping clients identify the right loan for their needs, not only now, but in the years to come!

In her role, Angela looks forward to contributing to SouthStar Bank’s strong reputation for personalized service and community-focused banking. Joining a team that values both innovation and relationship building aligns perfectly with her approach to lending. Angela is eager to apply her experience in developing creative financing solutions, deepening client relationships, and helping the bank continue to grow.

Angela is consistently active in community service initiatives that promote local development and support those in need. She dedicates time to mentoring emerging small business owners, guiding them to build a strong foundation for growth and sustainability. Additionally, Angela contributes to the planning and marketing of community food and toy drives, ensuring these efforts effectively reach and benefit local families. When she finds time to herself, Angela enjoys spending time with her family and friends and staying active outdoors.

Welcome to the team, Angela! NMLS# 452289

Welcome Eric Jon Simmons

Eric Jon Simmons, Vice President of Lending | SouthStar Bank Harker Heights

Eric Jon Simmons has joined the SouthStar Bank Harker Heights team as a Vice President of Lending. Eric Jon holds more than two decades of experience in the finance industry developing a diverse expertise including Mortgage Originations, Sales Leadership, and Call Center Management. Eric was educated at Central Texas College in Broadcast Journalism and received additional education specific to Real Estate and Insurance. In his career, Eric Jon has successfully originated loans across both the wholesale and retail sectors. He finds great joy in helping clients on the verge of realizing their dreams. As a home loan expert, Eric Jon dedicates himself to helping families identify the ideal loan that aligns best to their unique needs as they embark on their homebuying journey. Eric Jon is eager to make a positive impact within the community and join a team that also prioritizes its communities.

Outside of work, Eric Jon enjoys giving back to the Refuge Corporation (Mobile Food Pantry) through Christian House of Prayer Ministries in Killeen, TX, competing in Barbeque Competitions, Hiking and enjoying Dallas Cowboys and UT Longhorn Football!

Welcome to the team, Eric Jon! NMLS# 741375

Common Mistakes Made with Self-Directed IRA Accounts (SDIRAs)

A Self-Directed IRA (SDIRA) can be a powerful tool for those looking to diversify their retirement portfolio beyond traditional stocks and bonds. With the freedom to invest in real estate or other qualifiable assets. A Self-Directed IRA offers greater control, but also greater responsibility. Without proper guidance, it’s easy to make costly mistakes that can lead to penalties or even disqualification of your IRA.

Here are five common mistakes consumers make with Self-Directed IRAs—and how you can avoid them.

1. Engaging in Prohibited Transactions

One of the most common (and serious) mistakes is violating the IRS rules around prohibited transactions. These include buying or selling assets between your IRA and “disqualified persons”—such as yourself, your spouse, parents, children, or any entities they control. For example, you can’t use your Self-Directed IRA to buy a property that you or a family member lives in. Doing so could disqualify your entire IRA and trigger heavy taxes and penalties. Please abide by IRS guidelines to avoid prohibited transactions.

2. Failing to Understand IRS Rules and Compliance

Unlike traditional IRAs, Self-Directed IRAs require you to stay informed about compliance regulations. The IRS has specific rules about valuation, recordkeeping, and annual reporting. If you fail to provide accurate valuations or don’t maintain proper documentation, your account could fall out of compliance. Checkbook style IRAs allow account holders flexibility, but it is your responsibility to ensure your investments remain compliant and properly reported.

3. Overlooking Due Diligence on Investments

Because Self-Directed IRAs allow investment in nontraditional assets, the burden of research falls squarely on the account holder. Unfortunately, this can lead to investing in high-risk or fraudulent opportunities. Before committing your retirement funds, thoroughly vet each investment opportunity. Review financial statements, verify ownership, and assess long-term viability. If something seems too good to be true, it often is.

4. Neglecting Liquidity Needs

Self-Directed IRAs often hold illiquid (cannot be sold or exchanged quickly) assets like real estate or private equity. While these investments can yield strong returns, they can also create challenges when it’s time to take required minimum distributions (RMDs) or cover unexpected expenses. It’s important to maintain some liquid assets within your IRA to ensure you can meet obligations without forcing the flash sale of long-term investments.

5. Doing It Alone Without Professional Guidance

Managing a Self-Directed IRA can be complex. From IRS compliance to asset management, there are many moving parts that can trip up even seasoned investors. Working with your SouthStar Bank experts can help provide some oversight and structure needed to keep your account on track.

At SouthStar Bank, we believe that every customer deserves the freedom to shape their financial future, without unnecessary risk. Whether you’re exploring real estate investments or diversifying your retirement portfolio, our experienced team can help guide you through the process with personalized support and trusted service.

Have any questions? Ready to start your SDIRA journey? Contact your SouthStar Bank IRA experts today at 512.384.3948 or IRA@southstarbank.com.

SouthStar Bank does not provide tax, legal or investment advice. Any information communicated by SouthStar Bank is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever making an investment decision, please consult with your tax attorney or legal counsel.