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i don't usually end up putting all i can into my IRA every year so i was debating on putting up to the 4k into that or maybe starting a mutual fund. i'm just not sure what the advantages and disadvantages they both have.

2007-02-02 11:55:26 · 4 answers · asked by camerageeky 2 in Business & Finance Investing

4 answers

If you are looking to buy a house in the next few years, stay away from mutual funds, other than money market funds. You would simply not have the time to ride it out if the market went against you. An IRA is a decent choice if this will be your first home, since you can pull money from it (up to certain limits) without having to pay the extra 10% penalty for being under 59 1/2. The advantage is the tax deferral the IRA will give you. It will be taxable when you pull it out (unless it is a Roth), but with a house comes a lot of extra tax deductions, so you shouldn't be hurt. See IRS Publication 590 for additional information on IRA's (both regular and Roth), including withdrawal info.

2007-02-02 14:33:43 · answer #1 · answered by domers13 2 · 0 0

You have all the answers yourself...keep putting as much as you can into your IRA's...but definitely hold off a little for a down payment ( real estate is the single best investment most people can ever make!)
Are your IRA's at the bank? or invested? If they are invested, ask yourself where? and how are they doing?
Now, put your savings into similar investments...
If your IRA's are just cd's...you'll have to do a little study about "funds" and get your savings to a place where they can grow a little faster than the 5% bank rates...
moneycentral/msn has lots of info...
finance/yahoo, too

2007-02-03 05:53:12 · answer #2 · answered by jebediabartlett 6 · 0 0

once you graduate and discover a job on your container of learn. which will count huge variety as non-end employment. in the journey that your credit is as good as you're saying that is. You qualify for one hundred% financing. With one hundred% financing as a manner to evade pmi-- an excellent own loan officer might smash that into 2 loans. or you may kick decrease back save 20% and wait whilst you throw greater funds away on hire. one hundred% financing will cost you greater activity smart. i assume the question to ask your self is how long will it take to save 20% for a downpayment and how lots hire you will spend for the period of that factor. that should help be attentive to whether that is wiser to flow with one hundred% financing at a greater advantageous cost or whether that is ultimate to proceed to hire and save for quite a few years. ultimate of success

2016-11-02 04:18:07 · answer #3 · answered by Anonymous · 0 0

what i did to save money is :
opened a savings acct.
started an automatic withdrawal from my check to my savings
set it to withdraw weekly
I started out small to see if i could do it and it wasnt that bad, so I just increased the amount I wanted to save.
I dont make alot of money but Ive increased mine upto $100 a week now and I barely even notice its gone.

2007-02-02 12:07:46 · answer #4 · answered by jgrantspecial 2 · 0 0

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