Investigating Retirement Options

December 12, 2009

This may sound strange as I usually write about hip, with-it, stuff!

But, today is Saturday and I just saw two old people begging on the street.  I said to myself, “Holy Sh*T”, I do not want to end up like that.  And, at the rate that I am going, I just might.

I am part of the Wii Generation :) as you guys know and if I want something, I buy it.  I don’t set aside a lot for the future.  I have been doing one thing pretty well that most people probably do not do–I max out my 401k each year which is a very goo idea.

However, there are many more things that I can do for retirement and one of them is put money into an IRA.  I am allowed to put $5k in each year.  I was thinking of a traditional IRA but then I read this article called what is a Roth IRA and it got me thinking that this was a better choice.

Why?

With a Roth, though you pay tax when you put it in, you pay nothing when you take the money out at retirement, when it is worth a whole bunch.  And, when I am older, I do not want to be worrying about paying taxes.

Thus, I found out How To Open A Roth IRA and I will be doing this first thing Monday morning with by trusted discount broker, Charles Schwab.

OK, responsibilities done…now I am going to go party!!!

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