i have this ira which i put money into it each month and it is a traditional ira it is my moneymarket account in the ira it says 5,000 or something like that max peryear.lets say i put 5,000 each year for 20 years will i only have 100,000 for retirement....thats nothing....is there any way that u can build it up.....
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you are forgetting to add in the intrest on you 5000 per year and if you never touch it, it will add up after 20 years you need to look for an ira with the best rates some places have better rates on short term ira if thats the case just stack them and you will be fineComment -
worthless. ww3 will wipe-out everything financial. just gamble while you canComment -
Your forgetting about rule 72.Comment -
Putting it in investments that gain interest...
You can also potentially contribute to a 401k which has a much higher limit that the $5,000(in 2012 its $17,000) depending on your employer.Comment -
is it standard to throw your first $2000 in a roth ira, i.e. tax free?Comment -
i believe all roth ira you pay tax before hand. Thats why when you collect it later its tax freeComment -
easy answer for this one.
take the Cesena under 2.5 if you can get it. you'll see a solid profit before the sun rises. can't beat thatComment -
If you have a average of a 4% return over 20 years your balance will be 165,000
If your only saving 5,000 a year for retirement you are horrendously under saving for retirement if you want to be comfortable when you get to that age. id suggest enrolling in your employers 401k plan( they may not have one and thats why you chose to have a traditional ira), and put up to the maximum they match( for most employers 5%). This 5% of your income you put into your 401k is taken out before taxes so your 401k will grow tax free and will be taxed upon withdrawing it at age 59.5.
After you reach your employers 401k match i would max out my Roth IRA. Which is 5,000 after tax dollars per year. You prepay taxes on this type of account and its gains interest tax free. Between these 2 investment accounts if you max both out which will probably cost you 8,000 a year based on your income, you should have no problem retiring a millionaire.
I put 200 a week into my 401k and max out my Roth IRA yearly and with just that i should be able to retire with about a 1 million dollar nest egg if im only making 1.5% return a year.Comment -
It's kind of cute, but sad that you guys think you're going to be able to retire someday. Wages are flat and the cost of everything else is skyrocketing. You're not even going to keep up with inflation without taking on a lot of risk.Comment -
0-0 at half
did u get down on it?Comment -
You can shop around if you can afford currently to put more away. If not, stay with it but do be looking forward towards contributing more in hopefully the near future. Does your current employer match your funds? If so , you should IMO, contribute up to the matching amount for sure but not necessarily contribute more. Now, if you are a type of person that can not save a nickel on your own, then sure, contribute more. But if you are in control of your money, over contributing can lead to problems down the road.
Without knowing your age, chances are, you should be planning on working more than 20 more years. You should consult an adviser that can give you some ideas but whatever you do, DON'T just contribute to whatever that person says to contribute to. There are way to many scammers that are getting a kickback for getting people to invest in whatever. If you don't know what you are doing with your investments, save your money but don't invest. Yes, you aren't making anything on it, but... when you do step 2 which is to take the time to understand your options BEFORE you do something stupid, and then invest, there was money not earned that was indeed smarter than throwing it blindly in to possibly, harms way. And really, we are talking about a few % while you learn. The old adage measure twice and cut once is smart in this scenario.
You will need to learn about what to do with your money or you will be subject to losing a part or possibly all of it down the road.
If you don't have a clue about the stock market, and the vast majority of people do not, don't just put it there because others do. That's what many did and how has 2008-2009 worked out for them? You do not put you money in to something without having asked all the necessary questions. To do so, is reckless on your part.
You are going to have to get smart on this subject soon so make up your mind to do so, and get after it.
Hope that helps for now.Comment -
look at all these people giving actual answers.
too bad they don't know who this guy is.
You forgot he told us last summer he was working at the fair in town cleaning up garbage, then he quit that to go back to school, then he moved on to do the WSOP in all the different states. Now he has a retirement fund, yes of course.Comment -
2-0 final score
did you know that Cesena had 4 goals in 11 games in A? they scored 2 today. one off of a penalty and the other off a shot from 30 meters out that clipped the post.
consider you investment multiplied, lol
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No its people like you that make this forum trash. People will come into a forum and ask questions and all half of you have to say is sarcasm and call them a liar or a fraud/ghost. I dont think many people will make a fake question about a IRA of all things on a gambling forum.
if i see a question and i can give advice to someone i will do it. I can care less whether or not the question is a joke or not. But here you go wasting your time entering what youd call a pointless thread and making pointless posts in here.Comment -
Ohhhhh.
So when JJ sends me a PM asking how he can get shari, I should call him up and give him my advice? Or just say fukk him, he's just fukking around?
Thanks.
And thanks for putting me in line daddy. I'm gonna take what you said to heart.
You should see his last thread (15th of the day) asking if credit is important
He'll love your response to that as well. have at it pal.
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Ive placed about 8 wagers in 2 years. I no longer bet on sports but i still follow this site cause its entertaining to say the least. Ive had 5dimes Carib and bookmaker accounts for years before the points program begun to i was ineligible for pro status. Nor do i even care about sbr points.
I dont need or want credibility on this site nor have i ever asked for it aside from when i first started posting here thinking i was good at sportsbetting like everyone else. I just dont see why everyone on this forum bashes people for posting picks, and calls people frauds or liars for asking a question. If your on the opposite side of a pick move on dont spend the next 4 hours of your life telling them what a dumbass they are.Comment
