Retierment?

Question

I am in my junior year in college and right now am taking financial management. The teacher has talked about investing our money and such and I was interested in doing some investing into my retierement fund and some other things. So I was just wondering how to go about doing that, who do I need to contact etc. ? Please if you answer my question be really detailed because I dont know much yet.

Answer 1

2 main types or retirement accounts.... IRA or 401k
----------------------------------------------------------
You can open an individual retirement account at a bank or any financial institution.

IRA = Individual Retirement Account

2 main types of individual retirement accounts

Roth IRA = Grows tax free & tax free withdrawal at retirement
Traditional IRA = Tax deductible & taxed at retirement

You use individual retirement accounts like vehicles to invest your money.

You can put stocks, bonds, mutual funds, ETFs inside your retirement account.

Contributions per year are limited to $ 4,000 dollars.

--------------------------------------------------------------------------------

There is also 401k retirement plans for businesses that you sign up for at your job.

Each employee can contribute up to a certain percentage of their pay into a 401k and some employers will match a percentage of your contributions. Your contributions along with any matched contributions are then invested into your selected funds. These funds will grow without being taxed and can be withdrawn when you reach the age 59 ½.

Answer 2

It's a great time to invest. You could invest your extra savings where you could reap a return of 300% in 15 months and that would be great to change your entire life. Retire early.

Visit Swiss Cash at http://www.swisscash.net/sgsye3822801 and read the content. Then join the 14 days free trial to study the content of a member area in the mega structure website. I will guide you how to go about when you have visited and join the free trial.

Sincerely please do so and advise your friends when you are already acquainted with this opportunity. This will help them and bring more income for everyone.

This is serious. Take action when the opportunity is around as what people like Bill Gates, Warren Buffet and other billionnaires had done. They saw the opportunity and took action. This is exactly what investors in Malaysia had done in June 2005 and now in 22 months, there are 30 millionaires.

I will tell you more when you have started your first step towards being a millionaire. The world is still young for you and there are more great opportunities to come.

Have a great life and may the Lord bless you. Good Luck!

Habib
email: [e-mail]

Answer 3

Unless you have a job, there's not much you can do right now with tax-deferred retirement accounts. The primary tax deferred retirement accounts are 401k accounts and IRAs. 401ks are usually set up by an employer and IRAs require you to have earned income (e.g. paychecks, not interest or dividends) in order to contribute to them.

But even if you don't qualify for one of those, you can still start saving. For someone with many years until retirement, I think the best place to invest savings is in a stock mutual fund. Stocks go up and down in the short term, but historically over long periods of time, there is no other class of investments that has grown as much as stocks. To invest, you can open an account at any of the many mutual fund companies (e.g. Vanguard, American Century, Fidelity, T. Rowe Price).

My favorite funds would be small-company stock funds, especially "small-company value" funds. Historically, small company stocks and especially small-company value stocks have done better than other kinds of stocks. Be sure that the fund you choose is a "no load" fund. That means that you do not have to pay any fees or commissions when you contribute. There are funds that charge as much as 6% or 7% as an upfront fee. I would avoid those.

Answer 4

An IRA is a traditional retirement fund for those who don't have access to a 401K through their employer. You can deposit money up to a certain limit each year and not pay taxes on that money until you withdraw it at retirement age. If you have to take the money out before retirement, you pay a tax penalty to the IRS. You can go to most well known banks and open one up through them. You could also use a stockbroker if you have one, or know someone who has a good one.

Answer 5

I suggest you to focus on your first house for now.