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 Invest In An IRA

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Posts : 2727
Join date : 2008-05-13
Location : Central Florida

PostSubject: Invest In An IRA   Wed Mar 30, 2016 6:01 am

As I've mentioned before and just recently again off topic
in the SS post ---- After company matching in whatever
plan you company chose the best investment for
retirement is an IRA preferably at a discount broker
and at least consider a ROTH IRA.

I mention it again now because it looks like Cramer agrees
with me. That's a scary thing, to have one of the talking
heads agree with you, makes me stop and rethink my
opinion. Anyway, here's Cramer's talk:

"For those investors who are serious about getting rich, Jim Cramer says that means preparing for retirement regardless of age.

"Notice I didn't say save for retirement. I said prepare, because just stuffing your money in the first national bank of Sealy (NYSE: TPX), a.k.a. stuffing it into your mattress, or automatically saving it into an IRA or 401(k), great though those two tax-deferred vehicles may be, might not be enough to prepare for your retirement," the "Mad Money" host said.

First things first, should you put your money into an individual retirement account? Yes!

Now that you know what you should do with an IRA, what about a 401(k)? Yes, Cramer recommended to contribute to a 401(k) if it is available. Most companies will match contributions to a certain point, which is like getting free money."

LINK (not worth pursuing)
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Posts : 1542
Join date : 2008-05-16

PostSubject: Re: Invest In An IRA   Wed Mar 30, 2016 6:32 am

Good advice this time from Cramer. I generally consider him a walking contra-indicator when it comes to his stock picks.

Tracy and I both have IRA's and contribute a good deal to our 401K's. The cars will be paid off in 2 years and I'll start both of us a ROTH and max them out to the limit (I think it's 5k a year?)
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Posts : 2727
Join date : 2008-05-13
Location : Central Florida

PostSubject: Re: Invest In An IRA   Wed Mar 30, 2016 8:08 am

Yeah, I knew you were doing well and we're proud of it
even if we're just parents. Our advice is "Do as we say,
not as we've done but we've done alright to in our later
years. Cashed out all our deferred accounts when Honey
went to Emerson but did good after that.

Didn't know you had IRAs but that's great. It's either
regular IRA or Roth IRA. You can't contribute to both
the same year. Limits are:
"Maximum contribution: $5,500 per year ($6,500 if you
are age 50 or older"
It's called the catchup provision that let's people over
50 invest more.

We haven't invested anymore in a couple of years but
we are maintaining.
You're leaving us in the dust!
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