UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next
Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75384  
Subject: Re: Retirement acct. available for me? Date: 12/4/2003 3:00 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
Perhaps I don't have the smartest accountant in the world as he has not come up with an IRA I can invest in. Of course he has tried to sell me some insurance products that he sells ...

Sounds to me like you need to talk to another accountant or two - preferrably ones who don't sell financial products.

A significant part of the work I do is helping clients arrange their affairs so they can take advantage of the tax breaks written into the law. If your accountant isn't able to do that for you, you need a new accountant.

From some of the other post I am taking that if I 'pay' myself a set 'salary' every month I can set up a certain IRA????

You won't "pay" yourself a "salary," you will actually pay yourself some kind of wages in exchange for the actual work you do. For some of my clients, it's a once-a-year paycheck, for others its twice a month. It all depends on what makes sense for you.

What type of IRA would that be???

There are only two kinds of IRA's - traditional and Roth. Some kinds of retirement plans set up by employers can use a traditional IRA as the ultimate place to put the money.

--Peter
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Berkshire Hathaway

Starting a Small Business
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement