Ask the Dolans: What kind of IRA is right for me?
Filed under: Banks, Retire, Saving, The Dolans, Investing
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Click here to ask Ken and Daria your question.
Here's a little trick when it comes to saving for retirement: every little bit helps. That's why we're thrilled when we hear about folks contributing any amount to their retirement plans because it all adds up over time to a very rich future! But we also want your investments to work hard for you, which means choosing the right savings vehicle.
When deciding between a traditional and Roth IRA account, there is one major rule of thumb to live by. Find out what it is in our video response below.
Dear Ken and Daria,
I've been told I should invest in a traditional IRA instead of a Roth IRA because of my low income. Which is the right choice for me?
-Jill
Confused about where to begin your retirement planning? Learn how to start saving for your future and get answers to all your questions about Roth IRA rules, rollovers and more at Dolans.com.
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Reader Comments (Page 1 of 1)
9-20-2008 @ 2:29PM
carol said...
The SEC stopped short selling for People to short sell Financial Institutions stock Friday, But not for a large brokerage money manager Give me a break, Doesn,t the SEC know that the brokage institution money managers sell large blocks of shares, That is what is causing the big swings in the stock market, And the large down turn of the financial stocks. It isn,t the small invester that is doing large amounts of short selling, this will not help the stock market crisis, Unless they stop short selling for everyone, Not just a small few.
Reply
9-21-2008 @ 11:41AM
George Pinto said...
I have AIG stock should I sell or wait until it returns ?
Reply
9-21-2008 @ 5:40PM
Milbourne said...
Ruth!!!!! So you're having a baby!!! Isn't that wonderful!!!
(Citizen Ruth)
Reply
9-21-2008 @ 8:48PM
nick said...
I want to buy some Obama stock. I hear he doesn't think an IRA is the way to go. His folks called me and said they need all the walk around money they can get their hands on. They told me they have CHAVEZ on board. Sounds like the service industry is the way to go the next four years, or maybe by some three dollar bills.
Reply
9-22-2008 @ 10:08PM
Pam said...
I have some money from a divorce settlement setting in a savings account and want to know if there is a short term account I can put this in so I won't be taxed so much on it. I want to use some of this money for a down payment on a house next year, so don't want it tied up for a long time.
Also what type of account can I open for my 18 yr old son that will gain the most interest and just let it sit there for 20-30 years, and add some to it every year? I want it to be a nest egg for him. Thank You
Reply
10-04-2008 @ 1:09PM
Phyllis said...
At what age do I have to start withdrawing from my IRA account? Thank you for your help.
Reply