Question about IRAs...

[oldtime]

Quote from LEAPup:

I'm talking about the traditional IRA.

You'll thank me for this someday if you own one:

http://www.amazon.com/Retirement-Savings-Time-Bomb-Defuse/dp/0670032360

ok, I went to the link. Big fan of amazon, but I'm not going to buy the book, especially if you've read it and can't tell me why a Roth is a time bomb.

But consider this the someday I thank you

 

[oldtime]

if you're talking traditional, well then heel yes, I'm talking Roth.

 

[LEAPup]

Quote from oldtime:

if you're talking traditional, well then heel yes, I'm talking Roth.

If you're in the income range to fully fund a roth (even convert an IRA to Roth), I usually recommend that. It's the traditional IRA that ticks, and ticks, and ticks until...:eek:

Tell you what. How about I pull the book out of shelf development lol, hit the highlights, and type a good argument against the IRA that you'll want to read about? Lmk. Glad to do it as I've not used this book in a seminar in three years, and have been wanting to re-read the areas I need to know for myself to stay sharp.

The theme is you retire in a higher tax bracket than you were in when working, and worse, didn't know it was the government's 'plan' to do this to you with sand in the vasoline. The book is about proper planning for later years and avoiding the bomb most working americans fall into. It's backed by evidence, and is an eye opener.

 

[ScapGF]

Quote from LEAPup:

If you're in the income range to fully fund a roth (even convert an IRA to Roth), I usually recommend that. It's the traditional IRA that ticks, and ticks, and ticks until...:eek:

Tell you what. How about I pull the book out of shelf development lol, hit the highlights, and type a good argument against the IRA that you'll want to read about? Lmk. Glad to do it as I've not used this book in a seminar in three years, and have been wanting to re-read the areas I need to know for myself to stay sharp.

The theme is you retire in a higher tax bracket than you were in when working, and worse, didn't know it was the government's 'plan' to do this to you with sand in the vasoline. The book is about proper planning for later years and avoiding the bomb most working americans fall into. It's backed by evidence, and is an eye opener.

I'd be interested in hearing some of the examples for sure.

 

[Scataphagos]

Quote from ScapGF:

So why is it that you can contribute more to a 401k?

401K is intended to be a "primary retirement account" vehicle. IRA is more "supplemental".