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Author: hpsun Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19371  
Subject: No Retirement Plan at work Date: 5/25/2000 10:29 AM
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I am starting a job with a company that does not currently have a retirement vehicle in place. Is an IRA my only good option for saving tax-deferred money for retirement? The problem I have with this, is that I would like to save much more than $2000/year for retirement. Will I just have to save in a taxable account, or are there other options out there? I read the Fool's view on annuities, and that doesn't seem like a favorable option for me. I am 29 and have a pretty good start in my current retirement account, but I want that to grow significantly.
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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4057 of 19371
Subject: Re: No Retirement Plan at work Date: 5/25/2000 11:19 AM
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<< I am starting a job with a company that does not currently have a retirement vehicle in place. Is an IRA my only good option for saving tax-deferred money for retirement? The problem I have with this, is that I would like to save much more than $2000/year for retirement. Will I just have to save in a taxable account, or are there other options out there? >>

You really don't have any other options. I would suggest that you consider a Roth IRA if you qualify and can afford the nondeductible contributions. Earnings in a Roth will never be taxed if you leave it alone until retirement.

I would also suggest that you keep long-term hold assets in your taxable account, and those that may generate short-term gains or other current income in your IRA. This way you will receive benefit of the reduced capital gain rate when you do sell from the taxable account.

TMF ExRO
Phil Marti

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Author: gurdison Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4064 of 19371
Subject: Re: No Retirement Plan at work Date: 5/26/2000 2:55 AM
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<I am starting a job with a company that does not currently have a retirement vehicle in place. >


I know it is now too late in the process and you may have special circumstances, but FOOLISH principles apply beyond investments. Under normal conditions, during a FOOLISH job search, you should be eliminating companies that do not have a good match in their 401k plans, let alone no 401k plan at all. I think that they are an ESSENTIAL element of being able to retire early. You will find it mentioned over and over again by most RE's on the Retired Early board.


BRG

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