UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next
Author: highonamt Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: IRA decision: No children Date: 3/10/2006 11:16 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
"Interest rates? Is mortgage deductible? Any prepayment penalties?..."

Interest rate great and deductible? no Prepayment penalty. We are deciding how much to add each month to pay off early.

"If you lost your job for a year and had to do major home repair and replace a car?..."

Enough savings ... meant we already have set aside six months of emergency funds.

"Because low-balance accounts typically have higher fees and fewer investment options, it's usually better to stick all your contributions in one IRA at least until your balance is $10,000 or $20,000...."

The place I'm looking at has numerous options and no "extra" fees. It'll take only four years to reach 20K in whatever IRA chosen.

"Your decision on whether traditional vs. Roth should be based on your marginal tax rate now vs. your projected marginal tax rate when you retire ...."

I believe our rate now is 27%? No idea of what it might be. We stand to inherit some money in approx ten years.

"Your job offers no retirement plan? Are you self-employed?.... "

Approx 80% of local jobs offer no retirement plans or health benefits.
Spouse has a pension, for now, who knows what will happen later. We are maxing out 401K plan. My IRA will be a supplement to those.
My income comes from part time contract work and varies greatly.
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.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
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.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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