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-   -   What to do with Retirement? (http://www.christianguitar.org/forums/t209668/)

Dr. Thrunk 08-20-2014 08:08 AM

What to do with Retirement?
 
I have a bit saved at my workplace.

I am leaving but want to keep the money somewhere as a retirement account. I have heard a lot about Roth IRAs, index funds, and mutual funds. Not sure what to go with...

I would love for it to make a little money still, as I wont be able to put anything in for a while...

Ax 08-20-2014 08:24 AM

Roth's are pretty solid because likely taxes will be higher when you retire than they are now.

Dr. Thrunk 08-20-2014 08:27 AM

Quote:

Originally Posted by Ax (Post 3849894)
Roth's are pretty solid because likely taxes will be higher when you retire than they are now.

Oh cool, so Roth's aren't taxable when you take it out eventually?

athanatos 08-20-2014 09:25 AM

Exactly. They are taxed now, so that they won't be taxed later.

gospelbluesman 08-20-2014 02:12 PM

My retirement prep consists of eating a little bit of dog food each day now so I am use to the taste when I retire!

("It is Not about your feeling so Stand Up and be a Man of God") (TM) GBM

dogfood 11-20-2014 05:10 PM

Quote:

Originally Posted by gospelbluesman (Post 3849924)
My retirement prep consists of eating a little bit of dog food each day now so I am use to the taste when I retire!

("It is Not about your feeling so Stand Up and be a Man of God") (TM) GBM

Hey!!!

Epaphras 11-20-2014 08:20 PM

IRA, Roth IRA, 401(k), etc. are not investments in and of themselves, but tax treatments.

Investments are things like mutual funds, index funds, bonds, etc.

When I moved employers a year ago I rolled over my 401(k) (with 100% vesting...FTW) to a traditional IRA. I went with LKCM Aquinas Funds as they are screened according to the US Conference of Catholic Bishop's Socially Responsible Investing Guidelines. I have since opened a Roth IRA there to resume my savings.

Roth is the best, especially if you are in the 15 or 25% tax bracket...better to pay 15% now than who-knows-what in 40 years when it's time to withdraw it. It's possible the government could change the rules and find a way to tax Roth savings, but there'd be riots in the streets.


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