The IRA sales rep gave us a presentation today and I tried signing up for it but she pushed me aside so she could speak with the professionals, and none of the clerical staff where I work have one. I'm not on welfare just because I'm an office clerk, I have lots of extra money after my living expenses and would like to save for retirement so what do you recommend?
2007-04-11 12:51:42 · 6 answers · asked by whatwhatwhat 5 in Business & Finance ➔ Personal Finance
she asked me to fetch her water and make her copies was she trying to get the pt to me that I'm only there to serve and not to actually sign up for an IRA?
2007-04-11 12:54:41 · update #1
Well then, its that investment rep loss for not opening an IRA account for you. I open IRAs for all types of people I meet, as long as they have a job. My market is middle income families and I do my presentation in their homes.
I believe everyone should get an IRA, especially a Roth IRA. In IRAs, your investments grow tax-deferred. That's what makes it so good to have. So yes you should get an IRA. I would talk to a financial professional who is securities licensed to help you find the suitable investments. You can pick investments on your own, but there's a good chance you will do it wrong and get a bad return in your portfolio.
2007-04-11 17:53:46 · answer #1 · answered by Anonymous · 6⤊ 0⤋
Well, she's a bloody fool then, isn't she, because you're a good candidate for an IRA. You can get an IRA anywhere, you don't have to sign up with her. Your bank probably offers it. Personally, I'd recommend a Roth IRA, because you can withdraw any money you put in after five years, and keep the interest going, if you want to buy a house or something. It's great that you're saving a lot of money. If you have money set aside already, I would open up an IRA immediately (by April 16) and say it's for 2006, not 2007. Then you can put in up to $4,000 for last year ($5,000 if you're 50+), and still put in the same amount for this year. Do this right now, like today or tomorrow, so you can put away more money. Oh, and if you're feeling at all mean, after you get an IRA somewhere else, call that IRA reps boss and tell them they didn't get your business because the woman was dismissive of you, and tell him/her how much you invested in the other place. She made a real mistake doing that. Good luck to you and congratulations!
2007-04-11 21:00:06 · answer #2 · answered by Katherine W 7 · 1⤊ 0⤋
IRA's are great investment products, and if you have the extra $$, I highly recommend them. Forget about how the rep treated you, and that no one else in your department has one. You are wise to be thinking about saving for retirement already. Kudos to you!!
There are limitations on contributions to keep in mind, as well as the difference between traditional and Roth IRA's. With traditional IRA's, the money you contribute is pre-tax, so when you make a withdrawal on it once you're old and retired, you'll have to pay income tax on it. Roth IRA contributions are post-tax, so there is no income tax to pay once you get old enough to withdraw from it. Good luck!
2007-04-11 20:12:44 · answer #3 · answered by centerstage 3 · 1⤊ 0⤋
Not only are you smart to consider it, the sales rep was dumb to exclude you and rude to treat you that way.
(1) Definitely sign up for an IRA. In your case it's a no-brainer.
(2) Definitely complain, politely but firmly, about the sales rep's behavior to either the relevant HR person at your office or the sales rep's boss. (They would want to know the rep is losing them sales!)
2007-04-11 23:51:57 · answer #4 · answered by enoriverbend 6 · 1⤊ 0⤋
If you give me your extra monies, I'll be glad to hold them until you retire. Just uhhh... send them in check form to your pal Chicken Boy, for I am a master of personal finance.
2007-04-11 20:17:59 · answer #5 · answered by Anonymous · 1⤊ 2⤋
Everyone should have an IRA!
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2007-04-11 23:43:29 · answer #6 · answered by SWH 6 · 1⤊ 0⤋