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Author: terryguys Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Re: Retirement acct. available for me? Date: 12/4/2003 2:30 PM
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Sorry if I foolishly wrote 'living expenses'. I do draw from the S-Corp. on a monthly basis but more then my living expenses are. If you want to call this a salary that is ok. Some months are more then others depending on what is due that month (real estate taxes, insurance, equipment repair). From my viewpoint it really doesn't matter how much I draw out as my year end taxes are figured from the S-Corp. and the various other interest and dividends I receive.

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 that are tax advantaged but I am not in the market, nor need, large insurance products that I would pay through the nose for.

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????
What type of IRA would that be???
Again, my (maybe not so smart) accountant claims I need to have 'working income' before I can put money into my tradional IRA that I have for some years before I quit my 'working' job a couple of years ago and now am in this situation---which I am not complaining about.
Just would like to put some tax deferred money away if it is available. Sorry if I sound naive about IRA's but I guess I am so I ask for your suggestions.
Thanks
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