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 Author: gdett2 Number: of 72499 Subject: Re: help on ideas for retirement fund opportunit Date: 9/19/2012 1:57 PM
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 bartsd,Something I do not understand in your post is the return you calculated.\$22K at 5.5% for 20 years will become \$58K, not \$28.` Prin Growth \$22,000.00 \$1,100.00 \$23,100.00 \$1,155.00 \$24,255.00 \$1,212.75 \$25,467.75 \$1,273.39 \$26,741.14 \$1,337.06 \$28,078.19 \$1,403.91 \$29,482.10 \$1,474.11 \$30,956.21 \$1,547.81 \$32,504.02 \$1,625.20 \$34,129.22 \$1,706.46 \$35,835.68 \$1,791.78 \$37,627.47 \$1,881.37 \$39,508.84 \$1,975.44 \$41,484.28 \$2,074.21 \$43,558.50 \$2,177.92 \$45,736.42 \$2,286.82 \$48,023.24 \$2,401.16 \$50,424.40 \$2,521.22 \$52,945.62 \$2,647.28 \$55,592.90 \$2,779.65 \$58,372.55 \$2,918.63`If you have income that satisfies the requirements for a traditional or Roth IRA, you can do that.If you currently have no traditional IRAs and you are not eligible for a Roth contribution, you can make a non-deductible contribution to a trad IRA. Once it is there and booked, to a Roth conversion of the entire amount. You will need to pay income tax on any growth that occurs in the trad IRA, a couple dollars at most. The advantage to a Roth is huge later on when RMDs kick in at 70 1/2 for traditional IRAs.Google "IRS Pub 590" for the regs on IRAs.Gene
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