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Troy | IRA's disgust me. They are point less. You should rather invest your money in funds or bonds. What do you say? |
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 |
 
jebediabartlett
 |
Think whatever you want, but I've got three friends, myself and my wife...all approaching the million mark in 401's IRA's etc... ( half of it will be TAX- FREE ..thanks to Kemp-Roth)
All of us " just common working folk"... just slightly above average income for years. ( two incomes though..half the time)..of course we don't get new cars every year ...mine's twelve years old.... not many " gizmo's" in the house... no 56 in T.V.... we're all good cooks, so eating out is usually disappointing anyway... NEVER had a $ 5.85 cup of coffee... etc. etc. ( Do enjoy some good wine..but always look for the bargains there, too.)
The tax benefits of an IRA...whether Traditional or ROTH...are just another way of socking a little more away...and when it adds up after thirty-five or forty years...those taxes you paid on non-IRA funds or investments are just another chunk of change that didn't work for you and you won't have in the end... ALL THAT MONEY you give to the gov in taxes COULD be working for YOU...not some politician's nephew..( hired with YOUR money) |
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BlaQice
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Huh? You can do that within your IRA. |
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src50
 |
You misunderstand.
"The investments are the cookies; the IRA is just the cookie jar."
You can invest in funds, bonds or any other thing you want within an IRA. |
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Beau.Gus
|
I say: "There goes a fella with no idea what he's talking about at all!"
Most IRA's are invested in funds and/or bonds, silly goose! |
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Net Advisor
|
IRA accounts are not investments, as they are actually a type of account. Just like a checking is a type of an account, a 401(k) is a type of account, and a savings is a type of account.
The accounts do nothing in them self.
What you put in that account will determine how that money works for you.
You don't have to close the IRA just change the investment. I would suggest seeking a professional advisor if the investment is not working for you. If the advisior recommended the investment ask questions or seek a new advisor pref one with 10+ years experience in the business.
IRA accounts are important to have. They can save you money from current taxes depending on your income (Traditional IRA); your investments can grow inside the IRA paying no taxes until retirement (Traditional IRA) or no taxes at retirement (Roth IRA) . See links for more info on the different IRA accounts.
You may also want to look at the S&P 500 Index for investing for retirement - holding period should be 7-10 years or more.
You can invest in the S&P 500 Index in the IRA as a no load fund or as a stock - stock symbol is "SPY" on the NYSE. The Index pays monthly dividends which you can reinvest (highly suggested) and requires no thought about day to day market noise. 80% of fund managers can't beat this index over time, so why not own the index and not try to play the current market hype or trend?
S&P 500 Index
http://en.wikipedia.org/wiki/S&P_500 |
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MVD34
 |
What?
You can invest in Stock, bond, and mutual funds in an IRA. I have all of them in my IRA(s). |
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Sahara
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IRA (traditional and roth) is just a type of individual retirement account. What you choose to invest in is up to you.
If you are talking about one with the bank where they try to get you to invest in CDs then you don't have to do that. |
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Dont_taze_me_bro
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You may be misinformed. An IRA is simply a cache of money which can be invested in many ways. The funds grow and are tax deferred until withdrawal, usually at normal retirement age. |
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