I am a 31 year old making over 100,000 a year. My company does not have a 401k. I have no write offs and I need some investment ideas. An IRA only allows you to contribute 2,000 a year, which is not enough and my ROTH IRA has an income eligibility cap. What are some other ideas.
buy a house if you don't have one...
Greetings jjaaxx,My company does not have a 401k. I have no write offs and I need some investment ideas. An IRA only allows you to contribute 2,000 a year, which is not enough and my ROTH IRA has an income eligibility cap. What are some other ideas.Perhaps a nice tax efficient index fund would work? See the link below, question #6 should interest you. http://boards.fool.com/Message.asp?mid=13403173Of course all your indexing questions are welcome on the index funds board.http://boards.fool.com/Messages.asp?mid=13538660&bid=100111ES
I could give you the donate to me response, but I wont.Max out your 401k, take a Roth IRA, take one for your spouse if s/he does not work and this applies, as mentioned, tax efficient funds help, real estate.
Long term buy and hold, of a stock paying little or no dividends. This has advantage even over IRAs that you are not limited as to how long you can hold, and your heirs get a full step up to value as of the date of your death. Retirement accounts can be a means of postponing taxes; with long term buy and hold, the original income is taxed but there may never be any capital gains tax, and if there is, it can be at a reduced rate. DELL, MSFT and INTC were great picks 10 years ago. Now is more difficult but many possibilities come to mind, among them GE, CPN, ORCL. Best wishes, Chris
1-Long term buy and hold stock.2-Run an annual hold (plus one day) Workshop Screen and pay the taxes (20%, but you're keeping 80% of gain).3-Or real estate (another form of long term buy and hold) but the problem is owing taxes on a non-income producing (unless you farm it or such) entity.JLC
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