Comments on: Roth IRA, Traditional IRA…I Finally Opened One

By: Stock Market Woes And Dollar Cost Averaging | MoneySocket

Stock Market Woes And Dollar Cost Averaging | MoneySocket — Mon, 30 Jul 2007 07:20:20 +0000

[...] Roth IRA, Traditional IRA…I Finally Opened One [...]

By: Dennis

Dennis — Wed, 25 Jul 2007 05:39:20 +0000

I’ll be opening mine in the next few months. Definitely by December to take advantage of this year.

By: Minimum Wage

Minimum Wage — Tue, 24 Jul 2007 18:28:09 +0000

Sorry, I was just nitpicking…we all knew what you meant. I’ll shut up now.

By: Danny

Danny — Tue, 24 Jul 2007 18:11:49 +0000

Of course you can save money for retirement outside of an IRA. The difference is with an IRA, your gains are tax deferred or tax-free. I wouldn’t think of investing for retirement outside my IRA unless my IRA contributions are already maxed out.

By: Minimum Wage

Minimum Wage — Tue, 24 Jul 2007 13:07:10 +0000

The US government allows individual investors to save money for retirement whether or not you have an IRA. Nothing stopping you from saving money for retirement outside an IRA.

By: Danny

Danny — Tue, 24 Jul 2007 05:20:56 +0000

Yikes I forgot to mention the fees, which of course are very important since this is a long term investment. Thanks for commenting, I appreciate it.

By: Chief Family Officer

Chief Family Officer — Tue, 24 Jul 2007 05:00:18 +0000

Don’t forget that it’s important to look at the fees you’ll pay to the institution that holds your IRA. I’m guessing you checked out Etrade before you opened your brokerage account there, but I just wanted to throw out that caveat to getting started right away - which of course, is terrific advice