UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: CybrCat Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79099  
Subject: To Roth or not to Roth Date: 1/19/1998 10:57 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
My question may be of a rhetorical nature, but deserves to be thrown out for all to ponder or enjoy with rounds of laughter...

My wife had very small amount of money (less than $150)in a traditional IRA, which renewed each year. She had never contribute anything to it, it was opened because she had to rollover contributions somewhere when she left her previous job. She recently closed the account and received a check for the proceeds. I was considering on directing her to open a Roth IRA, but realized this is basically a mutual fund with management fees. The way I understand it, she has 60 days to decide whether to invest elsewhere or pay the penalty.

I like the idea of not having to pay taxes on accumulated earnings in the future, but wanted to get a Foolish perspective. I have searched the Boards, but only came up with one message from Sir Tom (which carries ALOT of weight on its own), which was mainly anti-IRA.

I was thinking of taking the penalty and putting the money in a DRP. What do you think?

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2015!
Fistula Foundation: A World of Good!
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.
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 Glassdoor #1 Company to Work For 2015! 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.