I am doing a personal finance research project for school, and need to find out what an IRA is exactly.
211314
Individual Retirement Account.  Now has two forms - traditional and Roth.  Both are money saved for retirement and invested usually in mutual funds.  Traditional IRA contributions are tax-deductible, but the distributions are taxed.  Roth IRA contributions are made after-tax, but the distributions are tax-free.  Both have set rules as to how much can be contributed per year (based on whether you also have a 401k), the age at which distributions can be taken and when they must be taken, and whether money can be withdrawn early without penalty for various reasons.
40327
Don't confuse the term "broker" with fund or investment. I can have my IRA with my broker, Merril Lynch and invested in mutual funds from Oppenheimer and American.\n\nIt sounds like your IRA is invested in an international fund that is underperforming its peers. First, I hope just a portion of your IRA assets are in this investment. You should be diversified across several asset categories, not just international equities. It is the job of your broker to help you determine what the right mix of assets are and which investments to use to fit into the allocation.\n\nIf you are not happy with your broker's advice in addition to the performance of your international fund, then I would consider changing brokers. However, if you like your broker but not your international fund, tell him/her about your displeasure.
514962
Avoid any get rich quick projects where they promise you that if you sign up, and get others to sign up, you will rake in thousands in a few short weeks.  These are known as pyramid schemes, and they essentially rob you to pay someone else.\n\nConsider placing your money into an IRA fund, and if you invest carefully, you can start with very little money, add to it whenever you get a chance, and before you know it, it may well grow.\n\nBest of luck.
383740
An early withdrawal of an IRA will mean severe tax consequences. You may can borrow other money from somewhere to pay your bills but there is no such thing as a Retirement Loan. If you withdraw it before age 59 1/2, you will have to claim it as ordinary income plus there is a 10% penalty tacked on for the withdrawing of it that the custodian (fund co., broker, etc.) must collect for the gov't. For your future's sake, don't do it.  Good Luck!
95303
http;dayimedollars.com they will give you the information good luck
72433
My thesis is on graduated retirement programs. There's a suggestion for a topic.\n\n(I agree though, if you're looking to buy one, tsk tsk - some of us are working hard on ours! No fair!)
45995
I am not sure if it is beacuase I have a margin account or not, but I don't think so cause it seems to work the same in my IRA acocunts, but I am not paying any interest. But if I sell stock A I can then buy stock B right away.\n\nThe only time it is a problem is if I sell stock B and try to buy stock C before the stock A funds have shown up. So it might be your broker. I use ameritrade.
204396
It is true...you can use a self directed IRA to defer your tax obligations until your retirement age. Any money that you place into the IRA and any profit that you make can be kept into the IRA account and your not required to pay taxes until you make with drawls at your retirement age. Of course you always want to consult a CPA professional on the specific requirements of this program. But I believe you have it correct in a generalized format. A lot of hard money lenders use that vehicle or a trust to minimize their tax obligations.
659018
Paula M is WRONG.\nYou can have all 3.  As VinTek said, your combined contributions in both Traditional and ROTH IRA cannot exceed $4000/tax year.  You can spread this $4000 across any number of accounts you want.\n\nROTH IRA is NOT NECESSARILY better than Traditional IRA as VinTek implied.  For tax purposes, if you want to bring down your AGI, and if you're eligible ( since you're married - filing seperately/Jointly...Your AGI etc. ), you may prefer Traditional IRA today instead of TAX FREE advantage of ROTH IRA down the line.\n\nIf you have patience, you might want to go thru' the link below:\nhttp://www.401khelpcenter.com/2006_limits.html\n\nAlso check out http://www.401khelpcenter.com/
113518
A Roth IRA is an investment of after-tax money.  The current contribution limit is 4K a year.  You may withdrawl the money you have contributed at any time, for any reason without taxes or penalty.  \n\nAfter 5 years you may also withdraw the earnings for qualified expenses such as a first home purchase or educational expenses without penalty.  There are no age limits on your ability to make contributions to a ROTH IRA.  \n\nThe big advantage for younger investors of the ROTH IRA is that young people often have lower incomes and tax rates, so they will come out far ahead putting in money that they only had to pay low taxes on.
65435
No.  IRA's may not hold certain classes of assets and closely held corporations are one of them.  Likewise, if you happened to be the Chairman of IBM, you couldn't invest in that either.
44629
You do not need to tap into your IRA just to get a mentor coach to get your business going. Getting a mentor is not one of the reasons where you get off the penalty clause of the IRA. \n\nI suggest you go to the following places, all of which offer their services for free\n\nSCORE http://www.score.org - this is a group of volunteers mostly retired business professionals and entrepreneurs with years of experience in doing business. They can give you free mentoring as you start your business. I have tried them and they are excellent. Lots of great ideas and just to be able to talk to someone about your ideas is great.\n\nYour local Small business development center = go to your favorite search engine and search for "[your state] SBDC"\n\nIf you are a woman, you can also go to your local Women's Business Center. Here is a PDF file of state-by-state locations of these centers http://www.onlinewbc.gov/wbc.pdf\n\nGood luck!\nIsabel Isidro\nFor information on starting a business, visit http://www.powerhomebiz.com
552253
I think I would take a look at this site if you are interested\nhttp://jobs.irs.gov/opp_acc_iraSrQual.html
457514
IRA's are only for wage earners, so unless your children have jobs, you can't open one.\n\nWhat you can do is open a broker account (Charles Schwab, Scott and Co., Merrill Lynch, and the like)for each child - Uniform Gift to Minors Account - and invest in high yield money market funds paying close to 8% versus CD's which pay 3-4%. You can make such contributions on a regular basis, or as circumstances permit. There is no set amount or timetable. \n\nThe earned dividends are not taxable to them until it amounts to $600 per year (check with the broker, I'm not sure of the amount.)\nAt age 18, the account belongs to the children and should be converted to their names.
256661
try this one:\n\nhttp://onin.com/fp/afis/afis.html
10465
Does your employer have a 401k?  Make sure to contribute enough into it that you are getting the full match.  Then start a Roth IRA.
195698
Please check:\nhttp://moneycentral.msn.com/content/CollegeandFamily/Savingforcollege/P59866.asp\n\nGood Luck\nNBS