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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (32566)	11/21/2004 7:52:12 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 39344

There are supposedly ways to not be taxed again on after tax money that was put into an IRA [you used to be able to do that I think]... but really, who's going to remember to do THAT are you talking about ROTH IRAs? i am pretty sure they are still around. as i recall, you have to make less than 160K or something in order to add to one. i believe but am not positive that Roth distributions can be taken tax-free without any penalties after five years. also, it's possible to convert a regular IRA to Roth (while paying taxes on the amount being put into the Roth), but i think the combination of total income and the Roth conversion amount has to be 100K or less per year to avoid penalties. my old plan created by a few rabid NYC lawyers in the 80's allowed me to do pretty much whatever I wanted with the money, including real estate, exchange seats, unlisted stuff... i have done private placements and futures. there seems to be quite a lot of flexibility in custodial accounts held at trusts. the hilarious thing is that many regular brokers won't even let you buy long puts or calls, but in a futures account it's possible to use whatever the allowed limits are for futures leverage. something like 33x leverage on some Treasury contracts, maybe more? not to mention shorting... AND taking it our for kids eduactions when they get to college not sure how you winged that one, but let me know -g-.