should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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How does ROTH IRA work and what is this $750 benefit (gain?) that you're talking about?
I have 401k which i contribute to match my company. but what can i do with a ROTH IRA account..don't i have...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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depends how many financial crises show up in the 25 yr period and how worthless the dollar becomes over time.
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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does that theory apply on contributing to 401k as well? say i put away $5k in 401k.. = ? tax refund
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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I recently learned I can contribute up to $5,000 to an IRA. In 2012 I was in the 15% tax bracket because I only worked a 4 months of the year. In 2013 I expect to be in the 25% tax bracket. I am 24...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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first try searching, there have been so many topics on this issue. Second, nobody knows what the future will hold. If you invest in a ROTH Ira you can take out your original amount tax/penalty...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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Because you are in a relatively low tax bracket, it might be better to put money (2012) in a Roth IRA and let the money grow tax free (pay taxes on money now and not later).
If you wanted to you...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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I would tend to agree with bta15 and make the 2012 contribution to a Roth.
Depending on your income, you may also qualify for a Credit for Retirement Saving Contributions (Form 8880).
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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25 years from now? At least 3 kids with 2 different women and one divorce.
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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Why not both? At one point, I had four different retirement accounts.
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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i believe i do qualify for the "credit of retirement saving contributions"
thanks for pointing this out!
this will give me another incentive for opening a IRA
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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No...401k contributions are made from pre-tax dollars therefore you are never paying tax on them UNTIL you start making withdrawals. So no they are not tax deductible in the sense that they increase...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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Look my friend, nobody knows what the future will hold. Having said that, if you are 25 like you indicated, investing with more risk taking is the proper strategy since you will have plenty of time...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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Not immediately. Conversions into a Roth have to age for 5 years before you withdraw them free and clear.
Roth distributions come out in this order: 1. Contributions, 2. Conversions, 3. Earnings.
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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The $750 pertains to the traditional IRA. Contributions to a traditional IRA are tax deductible. Therefore if he made an eligible contribution of $5000 for the 2012 fiscal year, he would be able to...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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You can with a traditional IRA roll a traditional IRA into a roth IRA by paying tax on the whole thing (earnings and principal) at your current rate.
With a 401k after you leave your job where the...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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if, after contributing to a 401k or traditional IRA, can you roll it into a roth, pay taxes on it, and then withdraw the "contribution" without penalty?
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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I'm 28 and started really looking at my retirement when I was 24. My 401k allowed me to do Roth contributions and I haven't stopped since.
I think you got the right mentality: $750 is a nice...
should i open an IRA? or Roth IRA? what return can I expect 25 years from now?
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Thread created 02-17-2013 by flightxxx
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Pretty good advice here.
As far as which to go with, just search the "intranets" as mentioned above and you'll come upon an overwhelming plethora of articles. At this point in time, it is very...
