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Avoiding PMI
PMI - a recurring, monthly, unwelcome guest. It sounds similar to and is about as welcomed as a similar acronym. PMI is private mortgage insurance. This insurance policy is paid for by the homebuyer when the amount of their primary mortgage is...
Elements of Timeless Leadership
Copyright 2005 So-lu'shunz Management Services
Great leadership is timeless, always in vogue. The world has been hungry for great leaders from time immemorial. In times of chaos and war, environmental and social upheaval, great leaders often...
How To Get Your Email Messages Read
How To Get Your Email Messages Read Copyright (c) 2003 by Angela Booth Who's reading the email messages you send out? Not as many people as you think. For example, research by Internet marketing firms suggests that only ten per cent of email...
Invest in the stock market for the RIGHT reason, using the RIGHT choices
You have permission to this article either electronically or in print as long as the author bylines are included, with a live link, and the article is not changed in any way (typos excluded). Please provide a courtesy e-mail to...
New Years Resolutions for WAHMs Everywhere
Happy New Year's Ladies!
The beginning of a new year is always a good time to sit down and reflect upon past endeavors and make plans for the future. Be it short term or long term goals, now is a good time to make your plans.
Many WAHMs...
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Which IRA Is Best For You?
An Ira is one of the greatest ways to save on taxes currently and accumulate money for the future.
For individuals three types of IRA's will normally come under consideration.
The Traditional or Regular IRA The Education IRA The Roth IRA
Education IRA is now called the Coverdell Education Savings Account (ESA).
Education IRAs allow you to save for qualified higher educational expenses for a beneficiary. Parents and guardians are allowed to make nondeductible contributions to an education IRA for a child under the age of 18.
Contributions are allowed prior to the beneficiary turning 18, and contributions may not exceed $2,000 per beneficiary per year.
Contributions are made with after-tax dollars. There is NO deduction for the contribution. Withdrawals, however, are tax- and penalty-free when adhering to certain rules.
The traditional IRA allows you to contribute an amount and take a current deduction for the contribution. Withdrawal minimums must begin at a certain age and all withdrawals are taxable at the rate applicable when withdrawals are made. The main benefit is that any growth or gains remain free from taxation up to the point of withdrawal. Thus you would be getting tax-free accumulation.
The Roth IRA is perhaps the simplest - and potentially the most effective - sheltered account available.
Roth IRA has a tax structure different from any other IRA: contributions are after-tax (no deduction is available) but growth is tax-free; AND once you put your money in you NEVER pay taxes again.
Additionally, unlike a regular IRA, a Roth IRA does not require that you start withdrawing funds at age 70˝ or any
other time.
It's more flexible…
Since you have already paid taxes up front, there are no minimum distribution requirements and since withdrawals are not reportable income, they won't affect your adjusted gross income during retirement.
There are special techniques and strategies in creating and managing ANY IRA that create some huge benefits for the right person under the right circumstances.
If you've ever been successful investing in things other than stocks and bonds, you've probably wished that these investments could be included in your IRA, 401(k) or other tax-deferred retirement plans.
Amazingly to most people it's possible to have retirement dollars in vehicles such as:
Real Estate Limited Liability Corporations, Private Stock Offerings, Trust Deeds, Mortgage Notes, Leases and Lease Options, Joint Ventures, U.S. Treasury Gold and Silver Coins, Gold Bullion and many others.
While some investors are privy to the information above, most people are just clueless to the fact that they have a lot more avenues for investing than what their Wall Street Journal tells them.
If you are interested in exploring what your financial advisor knows that you don’t, including where they put THEIR money for strategic returns and investments, you can check out my free site on IRAs at http://www.irainfo4u.com.
More information about these strategies are also presented in my new book, "Scientific Wealth Strategies
About the Author
C.C. Collins is a Wealth Building Advisor and Author of “Scientific Wealth Strategies” at http://wealthscientist.com Find more information at http://www.irainfo4u.com
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