Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Non-Cattle Specific Topics
Coffee Shop
Retirement
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="Son of Butch" data-source="post: 1691594" data-attributes="member: 14585"><p>Roth IRA is great, but so are the traditional IRAs.</p><p>You get an immediate tax deduction increasing your disposable income at a time in life when you need it and if your SS retirement check is under $2100 month you are allowed to withdraw the difference from a traditional ira tax free.</p><p>Restrictions apply, so you need to consult a 'good' financial tax advisor or be able to read and understand IRS regulations yourself.</p><p></p><p>I'd recommend having both, and using the tax savings to fund your Roth.</p><p>Although paying off credit card debt or feeding your family ect might be the better option.</p><p></p><p>It all depends on individual situation.</p><p>There was a comedy skit years ago depicting Suzy Orman advising the homeless on using IRAs. <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p></blockquote><p></p>
[QUOTE="Son of Butch, post: 1691594, member: 14585"] Roth IRA is great, but so are the traditional IRAs. You get an immediate tax deduction increasing your disposable income at a time in life when you need it and if your SS retirement check is under $2100 month you are allowed to withdraw the difference from a traditional ira tax free. Restrictions apply, so you need to consult a 'good' financial tax advisor or be able to read and understand IRS regulations yourself. I'd recommend having both, and using the tax savings to fund your Roth. Although paying off credit card debt or feeding your family ect might be the better option. It all depends on individual situation. There was a comedy skit years ago depicting Suzy Orman advising the homeless on using IRAs. :) [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Non-Cattle Specific Topics
Coffee Shop
Retirement
Top