What do you know about these computer programs advertised to help you with your investments, telling you when to sell and buy?
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Why would you choose a ROTH instead of a regular IRA? I agree with the American Funds. I have money with them.
It might be nice for some of the Financial Planners to give a little bit of information on what is available. And why one would choose one strategy over another
The question about why a ROTH IRA vs a Regular IRA is a good one.
An IRA has more restrictive rules governing what can be contributed and how money can be removed. This is a qualified account meaning the money that goes in is PRE TAX. You don’t pay any taxes on what you put into the account, but when you remove money from the account, 100% of it is taxed at the income rate you are at. Any funds taken out before age 59 ˝ (I think) you pay a 10% penalty (no exceptions)
A ROTH uses post tax money. meaning the money you put into the ROTH, you have already paid the taxes on. Upon drawing from the account, you are only taxed on the capital gain (at the income tax rate at the time). However, there are some reasons (someone else might be able to give them) where you can withdraw from a ROTH without paying the IRS penalty.
Both are excellent and should be used by anyone who does not have a retirement plan at their work. Those with work related retirement plans still can benefit from a ROTH. There are restrictions on the IRA for people who have work related qualified plans.
Maybe PastorD and DT and any others could share some basic information along these lines.
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If you had a small amount of money to invest, say $1000, what would you invest in for longterm investment?
forgiven my friend i work for the largest investment firm in the world, 9 years, if you want some help just pm me, and keep this private for your sake, thanks, dt,
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forgiven my friend i work for the largest investment firm in the world, 9 years, if you want some help just pm me, and keep this private for your sake, thanks, dt,
I could care less if DT worked with Ben Bernanke. Forgiven don't get into the market.
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forgiven my friend i work for the largest investment firm in the world, 9 years, if you want some help just pm me, and keep this private for your sake, thanks, dt,
Why don't you share your wisdom here? I'm sure we could all learn something!
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