As the other people have said, you can start either a regular IRA or a Roth IRA. The money in these can be invested in a CD at a bank or into a number of other items, such as mutual funds. The problem with having just the IRA is that you are limited as to how much you can invest.
Besides the IRA, you may want to think about investing in an annuity. In an annuity, you earnings grow tax deferred until retirement. At retirement, you can have the money paid out as a lifetime income. There generally is no limit as to how much money you can invest in the annuity.
There are different types of annuities. You can get fixed, indexed, or variable ones.
The best thing I would recommend is talk to a financial representative to help you decide which plan best meets your needs.
Tags: , communities, retire, town
I have a tax class where one of the questions is is it better to have only stock in a retirement account or only taxable bonds? any ideas??? At this point i think the taxable bonds should go in the retirement account because the coupon interest that is received twice a year is usually taxed at ordinary income tax rates and stock dividends would be at more favorable rates if they were not part of a retirement account. am i correct on this? any help would be great. thnx.
Tags: communities, planning, , city
I am on vacation now but when I get back home to MD I want to contact people who live in over 55 communities…..We actually have a friend we visited in one & we put our card on the community bulleten board there…..about a week later a lady called & mentioned we must know someone in the building & it ended up she knows our friend…so that worked out well….the lady we worked for was a widow who had put off doing many things since her husband wasn’t there to do the work…so my husband hung sconces & fixed the toilet, etc…..she was so thrilled to get this work done…..a friend of hers came over & asked for our cards…then that friend called before we left……So what is the best way for us to let everyone know that we do this work….we are sure people want what we do but we don’t want to be intrusive…we also don’t want to be so passive that we don’t get to do all the work we could be doing….thank you so much for your answer.
Tags: visit, town, urban, communities
Are you Type 1 or Type 2?
Why do you think you qualify for disability?
e.g. Being a Type 2 non-insulin dependent diabetic isn’t going to qualify for any disability at all. And only the most extreme diabets cases would qualify you for anything, ie. if the condition acutally has disabled you.
Tags: city, retire, planning, visit
Both parents receive social security, my sister was diagnosed educatable mentally handicapp at the age of 7. She know gets $500.00 of my parents social security. She lives alone and has a child, can read and write etc. She went up to the ninth grade. What can my parents do so they do not lose benefits? She also receives SSI every month, food stamps and welfare. She says if she has to work she will give her daughter away and live on the streets. Any advice????? Also she has never been medically re-evaluated since the age of 17 to determine status. My parents are reaching 70 and not working anymore.
Tags: retirement, visit, , retire
I have 3 retirements from previous jobs totaling around 50k. I don’t plan to cash them all out, but 30k would be handy for a down payment.
Tags: urban, city, rural, family
I have a non qualified retirement plan ( this is not a 401K) through work.
Do I have to wait until I am 59 1/2 years old to take it out without paying tax or do I still have to pay tax. If I have to pay any tax, what is the amount or percentage.
Tags: communities, , visit, family
I’ve been with my French teacher for 4 years, and she is retiring this year. She was going to retire last year, but she decided to stay and see my class graduate. What would be a good retirement present to get her? Any ideas are appreciated! Thanks!
Tags: family, , retirement, rural
I’ve been with my French teacher for 4 years, and she is retiring this year. She was going to retire last year, but she decided to stay and see my class graduate. What would be a good retirement present to get her? Any ideas are appreciated! Thanks!
Tags: communities, rural, planning, urban
Are there some countries that are easier to do this with, than others? Could your Social Security checks be deposited into a foreign bank or would they need to be deposited in a U.S. bank? Is it alright if your home address is a foreign address?
In addition, are any medicare benefits transferable while you are living in another country?
Tags: family, visit, city, urban
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