 Advantages of investing in mutual funds vs. individual stocks? |
I've recently started work in my first career type job and have more money now and am keen to start investing money long-term for later in life.
Right now within my portfolio I have ... |
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 Offshore Bank Account, why? |
why would someone have one and why would they.
for what reason and what is the maximum and minimum you can hold.
... |
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 What are some penny stocks worth investing in? |
| Looking to go into the stock market for the first time and I have 1,000 dollars maybe a little more that I am willing to jeopordize to possibly gain more money. What stocks should be ones to follow ... |
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 How can I find out if an old premium bond has won any money? |
| A friend of mine recently found an old premium bond given to him by his father and wants to know if it has won him any money. Any help would be greatly appreciated.... |
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 At 15yrs old I'm ready to invest - help me decide how? |
| I would like to invest about $200 (more or less) of my money in hopes of gaining more money and some experience in investing. I don't care much about the risk of my investment, but the time it ... |
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 How do I buy oil? |
I don't have much money (I'm only a student) but I think if I got enough capital together it might be a good investment.
Would I buy it through a company that acts as a middleman?... |
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 What should I do with $70,000? |
| How can I turn it into $1,000,000 and how long will that take?... |
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 Can anyone tell me about secure10 % investment return ??? |
| I am looking for about 10% return from capital......investment should be secure.....what i expect.... if i invest 5k , i would expect at least 5300-5500 after 1 year.... not 4500.............. |
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| How can i become a millionair? |
| If i were to put my money in a savings account in the bank starting at age 17. Every month i will deposit about 550$, if i do that for the next 20 years, by the time im about 37 or 38, i will have ... |
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 Us $ versus £ ??????????????? |
what is the exchange rate at the minute ?
has the $ever been worth more than the £ ?... |
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mission_viejo_califo... | What’s the alternative to a 401k? I want to put away $16,000. a year and be able to get the same tax benefits. |
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Greg R
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Well if you are under 50 years of age you can put $4,000 in a Traditional or Roth IRA for yourself. If you are over 50 you can add a $1000 dollar catch up contribution. If you are married you can make a contribution for her also. So if you are married you can get a total of $8,000 if you are both under 50. You will have to decide if you want the traditional account, which means you will get a tax deduction on your contribution but you will have to pay tax as ordinary income when you take the money out. So if your $4000 grows to $40,.000 you will have to pay tax on the 40,000. The Roth account you will get no deduction ,but if you have the account open for 5 years and are over age 59.5 you can take the account out tax free. So meaning you deposited $4000 , it grew to 40,000 and you cashed out at 60 with zero tax. You will have to decide which one is better for you. If you think your tax rate will be significantly less at retirement the traditional account might be more for you. If you think it will be the same or maybe higher the Roth is for you.
The most you can shelter is $8000 pre 50 and $10,000 post 50, so you will have to use your company 401 k for the rest. |
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William H
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If you are self employed, you can set up a Simple retirement account with Fidelity, Vanguard, or Price. |
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digdowndeepnseattle
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unless you're self employed or own the corporation that you work for ther eis no alternative that will allow you that much of a tax benefit. If you do own the business and make a lot of $$ (consistantly over 225k a year.) then look into a DB plan. |
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Dr. Deth
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do you have access to a 401k plan and just don't want to use it? - If you don't have access to one, you're out of luck getting the same benefits |
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CS101
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Simple answer is none for 16k. |
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dave3006308
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You want an IRA. There are 2 types traditional and a roth IRA.
Do your research as to wich is best for you. They have yearly limits less than what you wish to deposit. |
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bud68
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You can fund an IRA to the annual limit, but its nowhere near $16K. I don't know where you'll get the same tax deferral benefit.
It might be worth looking at "tax-efficient" mutual funds or tax-exempt municipal bond funds. |
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Frank Castle
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You can give $16,000.00 USD to your cousin Pedro in Mexico and he can open a McDonald's or a Pizza Hut or whatever in Mexico and he does not have to pay any taxes to the United States of America. |
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