 What is the best type of IRA to start for tax breaks, Roth or Traditional? |
| I am from Iowa and have about $1000 dollars to contribute. any good sources or companies for starting this IRA would be appreciated.... |
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 Why invest in bond funds when you can invest in a few CDs with a likely similar return? |
| My broker keeps talking up bond funds. But I still can't see what they have to offer over buying a few CDs with different maturities. When I look at the return for bond funds they all look ... |
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 ************** How would you invest 10k for good profit? *********? |
Got it on a 4.65% interest rate (gross) flexi saver but not happy with it. No FOREX, and I dont want to put it on 10% p/a fix without touching it. Is there another way of making some profit?
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 Scottrade, Etrade, Fidelity, Ameritrade, etc etc? |
Which online stock trading service is the BEST and which is the most beginner friendly?
I have no stock trading experience and I have a very limited budget to invest.... |
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 Most trustworthy investing company? |
how can one invest in mutual funds and stop the broker from churning the funds for his own benifit?
Additional Details
the Q is asked in yahoo india...so am asking about indian ... |
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 I want to invest some money in something other then mutual funds.? |
| I had some cash in fixed deposit, the term is over and i want to invest in something that will give me decent return. Any help would be appreciated ..thanks!... |
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 Can I buy euros on the stock market? |
| Can I put my money into euros like, as a stock, so to speak? Like can I enter in a symbol for them and invest money into them? Convert my dollars to euros....... |
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 Is time and money the same thing? |
Additional Details
No offense, but none of these answers helped me...
you guys vote for whichever satisfies ... |
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Matt | What are IRA's? what companies offer the best IRA's? |
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xpo158
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Hi --
an IRA is an Individual Retirement Account. It is a retirement vehicle that the IRS has made as a wonderful tax deferred savings plan.
Some of the rules:
There is currently a $4000/year/person maximum investment.
If your are old enough you can "catch up" an additional $500/year
You cannot withdraw the money until you are 59 1/2 years old, otherwise you will be hit with a early withdrawal penalty.
You MUST begin withdrawing money by 70 1/2 years old or there will be a 50% penalty for the year.
When you put money into an IRA, that amount is deducted from your gross income when doing your taxes.
When you pull money out you will pay income taxes based on your future income tax rate.
Now, as far as what company, you can just seek a mutual fund family you like and you can start an IRA with them. Some good companies I like are Franklin Templeton and American Funds.
As a side note, you should also look into a Roth IRA, I wont go into the details -- some of the rules are different, but it is generally a better vehicle.
Please contact a financial advisor, or the mutual fund companies directly |
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UnaBlogger
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Its a way of locking up you money so you can't touch it until you're 59 1/2. You don't pay any taxes on it now, but you'll pay the the higher rate later on if the government has raised taxes by the time you are ready to start taking it out. And if their is inflation and things cost more to buy in the future, you may not get as much money back out of it as you put in. Ask your broker if this scenario is possible and what fees he charges to maintain an IRA account. |
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Michael K
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Individual Retirement Accounts are defined by the Internal Revenue Code of the USA, which means the actual language is absolutely indecipherable. They are accounts you can establish which a) provides a deduction against current income, thereby lowering your US taxes, and b) they are exempt from tax on interest, dividends, and capital gains, which means you invest tax free, and c) you must pay tax at the ordinary income rate plus a penalty if you withdraw funds from the IRA before retirement age.
Any major brokerage firm will send you the forms and instructions to set up an IRA. |
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Persian Bellezza
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IRA stands for Individual REtirement Accounts
depends on what you are looking for, check out bestranks.com |
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fluffydogconnoisseur
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My IRA is with Vanguard, they're quite good. Beyond that you might try Fidelity, T. Rowe Price or Scottrade. |
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muncie birder
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They are Individual Retirement Accounts. There are two types Ross IRA and Traditional IRA. Anyone with earned income can start a Ross IRA. If you are enrolled in a 401k, you can not put money into a Ross IRA. In my opinion the Ross IRA is much better anyway. You put after tax dollars into it, but never have to pay taxes on any money that is earned in the account. There is a limit on how much you can deposit in one year. Currently around $4000.
Virtually all stock brokers offer IRA accounts as do virtually all mutual funds. You can set up multiple IRA accounts. Most on line brokers are a good bet for opening an IRA. Many sell mutual funds and their commissions are reasonable. But I have to tell you that in my opinion you should look very closely at Bruce Fund. They are on the internet. That mutual fund is not sold by stock brokers. It is a small fund that has an incredible track record in both up and down markets.
But it would be a bad idea to place all of your money into one fund. You can start with one but diversity provides more safety. If at some time in the future, you decide that the place where you have your IRA is not performing to your satisfaction, you can transfer the IRA to another place without any penalty, but it must be a direct transfer. |
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buckobuckobucko
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IRA= Irish Republican Army. Don't know of any companies offering that. |
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ayres81781
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go with a roth ira ull pay taxes on the money u put in but no taxes when u retire an take ur profit out+ |
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