School me on IRA's.
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bless the child
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Be more specific...you put money in it and hope it grows...
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Sorry this is late...http://www.investopedia.com/terms/i/ira.asp#axzz1ebCKsdek
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An IRA is better than a 401K. However if you have a 401k you can transfer the money to a IRA account. There are two types. You have a traditional IRA and a Roth IRA. You get penalized for taking money out of it. However once you reach 59 1/2 years old, you can't be taxed on it.
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black caesar wrote: »An IRA is better than a 401K. However if you have a 401k you can transfer the money to a IRA account. There are two types. You have a traditional IRA and a Roth IRA. You get penalized for taking money out of it. However once you reach 59 1/2 years old, you can't be taxed on it.
You are penalized for taking gains out on it you can take out your contributions -
black caesar wrote: »An IRA is better than a 401K. However if you have a 401k you can transfer the money to a IRA account. There are two types. You have a traditional IRA and a Roth IRA. You get penalized for taking money out of it. However once you reach 59 1/2 years old, you can't be taxed on it.
You are penalized for taking gains out on it you can take out your contributions
Yep you're right. I was typing too fast.
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dont open an ira or a 401 k open a qrp (qualified retirement plan )
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So a qrp is better? WHat is the difference? New to me.
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I thought this thread was going to be about the irish republican army
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guytoosmooth wrote: »So a qrp is better? WHat is the difference? New to me.
higher yields amongst other things wealthy people open qrp's others open ira's
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guytoosmooth wrote: »So a qrp is better? WHat is the difference? New to me.
learn more here: (my publication ) http://www.lulu.com/shop/rabbi-lewis/how-your-debt-will-make-you-rich-fraud-film-and-fed-notes/ebook/product-20070889.html
