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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (94800)1/11/2005 5:56:30 PM
From: Lane3  Respond to of 793897
 
I have read that people generally don't take full advantage of the tax deferred accounts currently available to them.

That's my understanding as well. Maybe if we gave them back some of that money we withhold with the understanding that their SS benefits will be reduced they'd put the found money in an IRA rather than spending it. As far as I'm concerned, if they don't, that's their problem, not ours.



To: DMaA who wrote (94800)1/11/2005 5:56:54 PM
From: JDN  Read Replies (3) | Respond to of 793897
 
Well, they should. Great investment, if you go with the traditional IRA fully tax deductible (though you have to pay tax when withdrawn), interest also tax deferred till withdrawal. I always have put the max in. Now that I am over 50 I get to put an extra $500 in and next year and extra 1,000. (2005) for a total of $4,500 a year even more for next two years after that. jdn


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