Tax Rules For Ira
August 2nd, 2009
Question: Bad idea to save 10% of your income for retirement?
I am low middle class income and I have to tighten my belt quite a lot to save 10% of my income for retirement. Most americans only save 1% for income. When I retire, I may have a lot of money, but apparently most americans will not. Which means I may be taxed heavily to pay for thier welfare and special programs. I know my Roth IRA is not supposed to be taxed again…BUT they have 30 years to change the rules and it could get taxed! Is there a way to ensure to my nest egg pays out to only myself when I am retired? Thanks!
Answer: You are on the right track. you are responsible for your own life. do not look back at the people around you. you have to take care of your self first before others. In the mean time, Learn how to invest properly. I also set aside 15% of my pay to my 401 k too. I used to live in communist government, I had to take care of myself first.I think the social security system is a scam, out of date, need to change. Since FDR, 36 people support 1 person, now is 4 support 1, baby boomer retired pretty soon, 2 will support 4
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla…
http://www.stockcharts.com
http://www.streettalklive.com>… university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 73,000.00 and 30000.00 in taxble account. by follow simple rule
Self Directed IRA and 401K:Tax Liens and deeds build IRA’s 401K
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