Jump to content
1LtCAP

ROTH IRAs

Recommended Posts

Pick up one if the "Dummy's Guide" book series on investing / mutual funds / retirement planning.  They are written in such a way to be very basic and understandable for those just starting out.

Some things to keep in mind are that both Regular & Roth IRAs are subject to income limitations.  As long as you are under the max allowable you can contribute.

Also, you may be able to open a spousal IRA.  If you can I would recommend doing do.  Allows you to contribute on behalf of spouse even if they have no earned income.  

Share this post


Link to post
Share on other sites
On 2/21/2020 at 2:27 PM, 1LtCAP said:

simple and basic info is what i'm looking for right now. i just don't wanna be totally clueless when i contact an advisor. 

In all honesty, you need MORE than just "simple and basic", otherwise you might walk out missing your pants.

Also, it looks like it's a great day to buy the dip! :yahoo:

Share this post


Link to post
Share on other sites
On 2/24/2020 at 11:12 AM, gleninjersey said:

Pick up one if the "Dummy's Guide" book series on investing / mutual funds / retirement planning.  They are written in such a way to be very basic and understandable for those just starting out.

Some things to keep in mind are that both Regular & Roth IRAs are subject to income limitations.  As long as you are under the max allowable you can contribute.

Also, you may be able to open a spousal IRA.  If you can I would recommend doing do.  Allows you to contribute on behalf of spouse even if they have no earned income.  

I banked on making a contribution to one to reduce my tax liability. We make too much and I couldn't write it off. Now I owe the taxman. That book is definitely for me. 

Share this post


Link to post
Share on other sites
10 minutes ago, rifleman said:

No, I know there is no tax on growth. It's one of the few.

Just watch out for the 5 year rule, otherwise it's a good way to go, for an extended time period.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...