Some of the interest rates on the savings accts actually exceed CD's, and would be a whole lot less hassle managing.Does anyone know if they could be set up as Roth Ira's ?
2007-02-18 22:04:55 · 2 answers · asked by rnedavis1 3 in Business & Finance ➔ Personal Finance
It is possible, but why would you? A savings account should be set aside for emergency purposes in case you lose a job or can't go to work for awhile. Most online savings account only have an interest rate of around 5%. While that's good, there's better options out there to fund your IRA such as mutual funds. Mutual funds has a historic rate of anywhere between 8% to 14% in the past 25 years.
2007-02-21 08:56:50 · answer #1 · answered by Anonymous · 3⤊ 0⤋
I would think so. I would check with the bank that is offering the rates.
2007-02-19 12:47:57 · answer #2 · answered by Father Knows Best 3 · 0⤊ 0⤋