The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: reinvesting IRA CD to IRA money markets||Date: 1/5/2000 10:22 PM|
|Author: gtstarling||Number: 17410 of 77404|
Welcome! You asked:
Is it possible to simply withdraw my IRA CD at 5% (i will have to pay a small penalty) and reinvest it in an IRA money market with 15 or 16% interest and not worry about any problems at tax time. I also have savings bonds in my childrens name and all have matured. I would like to invest them in money market accounts.
Where can you find a money market that pays 15 or 16% interest? Foolish investors usually use Money Market funds as a parking place for money that will be needed in the next 3 - 5 years. Investments in equities generally give better returns over a longer time period.
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