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http://boards.fool.com/sherry-ive-converted-401k-tira-rira-twice-20767345.aspx
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| Subject: Re: 401K TO TIRA TO RIRA? | Date: 5/14/2004 12:38 AM | |
| Author: PharmBoi | Number: 41000 of 75335 | |
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Sherry, I've converted 401(k) - TIRA - RIRA twice. The first TIRA-RIRA allowed me to take the tax hit over 4 years, a feature that was not available the 2nd time around, so I completed a new W-4 with my employer asking for an additional $20 tax to be withheld per pay period (weekly) for the remainder of the year. You could pick a $ amount you're comfortable with and if you sit down and look at your daily spending habits, you'd be surprised where you can find that $5, $10 or $20. You can be frugal without being miserly! And Suze Orman gives the following examples: - Join a library for reading materials for your commute instead of buying daily newspapers and magazines (you can always borrow a paper at work or read it online); - 'brown-bag' 1 or 2 days per week - wait until you get to work for the cup o' joe (no deli or Starbucks coffee); - then there's Coinstar. You can find one at http://www.coinstar.com/coinstar2/cswebframe.nsf/GoHome. You'd be amazed how much loose change you build up over a week. Niall |
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