Archives For Retirement

Do you have the golden egg?

The Roth IRA is probably the best investment vehicle for retirement to date (except maybe the Roth 401K).

The Roth functions just like an IRA, but one major difference: Drum roll please……qualified distributions are tax free…I meant TAX FREE!

Decades of compound interest can grow tax free. This is great news as no one knows what taxes will look like in 5, 10, 25 years. It’s a good guess that they will be higher than today, so tax free earnings will be a huge bonus.

Who Can Contribute to a Roth IRA?

-If you have an earned income or your spouse did, then most likely you can contribute to a Roth. If you have a question click down to page 55 of this long IRS document.

-There are income limits (2012 stats) for contributing to the Roth:

  • $179,00 married filing jointly
  • $122,000 single
  • $10,000 married filing separately.
-There are no age limits to contribute to a Roth I.R.A. , but children must have an earned income and file taxes on that income.

How Much Can I Contribute?

Contributions for combined Roth and Traditional IRA are 5,000 or $6,000 if you are 50 and over. Your spouse can also contribute the same amount in most cases.

When Can I Contribute?

You have until the deadline for filing your taxes. So before you file, make sure you top off your Roths. This year you have until April 17th (Tax Day) to contribute to your 2011 Roth.

Experts Agree: Roth is the Best

“I cannot repeat this enough: If you are eligible to invest in a Roth IRA, I think it is hands down the best retirement investment you can make.” Suze Orman

“The best way to start investing is with a Roth IRA.”- Dave Ramsey

In fact more than 140 personal finance bloggers are writing about Roth IRA’s today.

Why? Because out of 50 graduating college students 0 knew what a Roth was and this guy  got mad and stirred up the whole personal finance blogging community.

The personal finance community knows the Roth IRA is the best financial product out there for retirement. Read 140+ articles about the Roth IRA and register to win $5,000 for your IRA.

Do you have a Roth? Start one this year or contribute to 2011 if you haven’t filed taxes yet. Remember it’s the golden egg of your retirement. 

Photo Credit  scottwills (Creative Commons)

Retire Retirement

Brent Pittman —  10/25/2011

R.V. Lego StyleRetirement is outdated. It is time to retire retirement. These are my thoughts as I enter into my 33rd  34th year of life and at least my 21st year of working. I had a lot of jobs growing up. I’m not sure that I ever want to retire. The thought of moving to Florida and riding around a golf cart hitting the greens, just doesn’t sound appealing. The vocation that I choose must have meaning beyond mere monetary gain. Why do something that doesn’t help others and also make the world a better place? I must believe in the product I’m selling or the service that I’m offering or else my soul will begin to wither.

Retirement is a byproduct of times when our parents and grandparents worked one job their life with one company and then after 35 years “retired” from the service of their company. Times have changed and we will now have several careers and multitudes of jobs within those said careers. My generation can’t even get retirement correct. Continue Reading…