Very very long...options and alternatives - Saab General Bulletin Board - Saabnet.com
The banner above is an advertisment - if it asks you to download software, please ignore.
Site News -
[General |
Members |
C900 |
9000 |
NG900 & OG93 |
93 |
95 |
NG95 |
99 |
Sonett |
Vintage Models |
Clubs |
Other Cars |
FAQs |
Gifts |
Member Photo Galleries |
Member Directory |
Classifieds |
Manuals |
*Buddy Registry |
*Mileage Registry |
Polls |
What's New |
Raffle |
Photo of the Month |
Sponsors]
[Main General Bulletin Board | BBFAQ |
Next by Date | Post Followup ]
Member Login / Signup - Members see fewer ads. - Latest Member Gallery Photos
Very very long...options and alternatives
Posted by R.T. (more from R.T.) on Sun, 1 Apr 2007 11:19:58
In Reply to: General Tax (IRA) Advice sought, SPO, Sun, 1 Apr 2007 10:12:48
Members do not see ads below this line. - Help Keep This Site Online - Signup
When I was a senior in high school I did my senior project on IRAs vs. 401Ks. IRAs are good for a few reasons, you can take out money for a first home mortgage. You can start to take out the money only at 58 or 59 and you have to take out the same amount every month until your 72. When you turn 72, you start to get a fee if there is money left. If your young, you are almost better off putting more money in the 401K. When you are young most financial advisors will put your money in funds and stocks that will produce more rapid growth. As you grow older most financial advisors tend to put your money in slower growth funds. I'll tell you exactly what I am going to do when I get my first real job. I'm going to get a good 401k. Any real extra money I want for my retirement is going to go in a foreign bank. An older friend of mine puts a lot of his money in Spanish savings accounts. He makes on average of 9 to 11% interest per year. That means you'll beat whatever t-bonds are making which is usually between 4 to 5% interest. I'm pretty sure it's all insured to just like the FDIC. When you bring back the money, you can bring back I believe up to 3,500 per month and it doesn't get taxed. An IRA is stable to say the least so if that's what you are looking for then absolutely go that way. But if you want stability and more money you may want to reconsider the IRA. I hope this helped a bit.
R.T.
'99 9-3SE
189k miles
posted by 152.163.100...
Posts in this Thread:
- General Tax (IRA) Advice sought, SPO, Sun, 1 Apr 2007 10:12:48
- Here's what I'm doing - should work for you too, Rod , Tue, 3 Apr 2007 10:03:39
- Don't think traditional IRA would do anything for you.., TKC, Mon, 2 Apr 2007 11:51:06
- Save as much as possible, JMJ in NC, Mon, 2 Apr 2007 06:23:58
- ..should have said, 401K is already maxed out each year, SPO, Sun, 1 Apr 2007 12:28:20
- Very very long...options and alternatives, R.T., Sun, 1 Apr 2007 11:19:58 <-- Viewing This Message
Members do not see ads below this line. - Help Keep This Site Online - Signup
Post a Followup
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.
StateOfNine.com
|
SaabClub.com
|
Jak Stoll Performance
|
M Car Covers
|
Ad Available
|
Random Saabnet.com Member Gallery Photos (Click Image)
This is a moderated bulletin board - Posting is a privilege, not a right.
Unsolicited commercial postings are not allowed (no spam). Please, no For Sale or Wanted postings, SERIOUSLY.
Classifieds are to be listed in The Saab Network Classifieds pages.
This is a problem solving forum for over 250,000 Saab owners, so expect to see
problems discussed here even though our cars are generally very reliable. This is not an anything goes
type of forum. Saabnet.com has been a moderated forum since 1988. For usage guidelines, see the
Saabnet.com Mission and Purpose Page. Please remember that you are
not anonymous. Site Contact | Site Donations | Other Sites by SP -
Poverty2Prosperity.org | Run Club Menlo Park | ScreenBot
Site Members do not see red text instructions, bottom of the page anchor ads, or box ads.
Click here to see all
the Site Membership Benefits!