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Author: ChilkatSally Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 66146  
Subject: Re: Newsweek - Jane Bryant Quinn Date: 2/26/2007 8:10 AM
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I like the idea of automatic savings for everyone. Make it a little extra work to get it out to spend it


I have mixed feelings about low earners and low savers. I have been preaching Roth IRA's to the young people I am related to since I learned about them.

In almost every case, they have pulled the IRA to pay the mortgage when they got laid off or had a medical emergency.

With the optimism of youth, none believe that the worst can happen, and that they need an emergency savings account. Why? They have easy credit with credit cards.

I would like to see it almost impossible to pull your ROTH if the final result is to replace SS.



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