Does anyone here have an IRA or other retirement savings? I just opened an IRA but I'm interested in other forms or saving for retirement. I'd love to hear what the rest of you are doing.





Does anyone here have an IRA or other retirement savings? I just opened an IRA but I'm interested in other forms or saving for retirement. I'd love to hear what the rest of you are doing.
Are you an independent contractor or an employee? If the former, you should be able to open a SEP IRA, which dramatically increases what you can contribute. If you are eligible for that you should also be eligible for a Medical Savings Account, which will further increase your alloted contribution.
SW/CC
GWLD may well be right. Remember the date to set one up for 2003 is not a calendar year deadline but when you file taxes. One thing to consider is that some brokers wave all annual fees once your balance hits a certain amount or if you select online statements. Stop by a brokers on a slow day or shop online at any big broker.





I have a Universal Life Insurance policy which allows me to invest in sector funds. This provides an income to pay the life insurance premiums, it also builds retirement savings tax deferred, and it also allows me to borrow 100% against the value of the investments to access this money in an emergency without being hit with a massive 10% penalty for early withdrawl plus having all of the deferred taxes hit immediately.
you can get tax deffered growth with an annuity and skip the charges for the life insurance, the loan provision rules are different though.Originally Posted by Melonie link=board=6;threadid=5504;start=msg59408#msg59408 date=1072646240
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