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IRA? Who's Putting The Cap Each Year?

Discussion in 'General Business' started by Swordfish, Feb 16, 2007.

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  1. #1
    I am debating starting an IRA and putting in the cap of 3000 each year. I am 27 now, so by the time Im 65 I should have well over a million dollars accumulated.

    I belive the roth IRA contributions go in pre-tax...

    Ive been using the money for advertising and PR lately, but I can afford the $250/month contribution without too much of a burden.

    Anyone care to comment.
     
    Swordfish, Feb 16, 2007 IP
  2. jill_domains

    jill_domains Peon

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    #2
    Roth IRA is a good option, if you have a very long term plan. It gives you enough flexibility for the type of investment.
    And, if you ever need it, you can always withdraw your contributions (not earnings) without a penalty. Or, you can wait till that 59.5 years old limit.

    Good luck!
     
    jill_domains, Feb 17, 2007 IP