Posted by Glenn OH on March 05, 2000 at 16:00:13:
I would also look to see if it could be invested in RE or Lonnie deals in the pension plan. I don’t know, juse wondering.
Roth IRA does anyone have an opinion why not to roll into this? - Posted by Bill Taylor
Posted by Bill Taylor on March 02, 2000 at 16:40:40:
After talking to Mid Ohio Securities this seems like the best deal going. It seems like it would be silly not to put your IRA there. Yes I do know that all the money being transferred is being taxed but one time and one time only. Are there any other reasons not to put your retirement into this? Looking forward to any ideas, come on everybody anti up.
VUL-This is the way to grow tax free - Posted by Paul Carlin
Posted by Paul Carlin on March 06, 2000 at 16:25:11:
Roll your money into a VUL. Here the money will grow tax free and you have access too it at any time. Not like a roth. There are too many restirctions on the goverment approved plans.
Re: Roth IRA does anyone have an opinion why not to roll into this? - Posted by Bud Branstetter
Posted by Bud Branstetter on March 02, 2000 at 21:58:55:
If you search on Roths you will find various scenarios as to how fast it must grow and how long before you retire as to whether you should rollover the money. In my world there is no question about it. The profits from the deals over what you need to live on are done with the Roth.
Re: Roth IRA does anyone have an opinion why not to roll into this? - Posted by Rich[FL/GA]
Posted by Rich[FL/GA] on March 02, 2000 at 18:44:20:
I pondered this question for quite a while. Finally got some good advise that made sense. What I finally decided to do was keep my money in my current IRAs and open a Roth IRA and begin contributing to it. Yes, after you start making over a certain amount of money (not sure, maybe $95k individual, $150k married - check this) you can’t contribute to Roth any more. However, there’s no limitation on your income to prevent contributing back into the other conventional IRA you left in place when you reach that income limit. There are other creative ways I’m told to get more than the $2k/year into a Roth so even that may not be a true “limitation”.
Of course, one advantage of transferring all the money now is that you have it to work with immediately. In the long run you need to look at your individual situation to see what works for you.
Rich
the only “bad” news, if you can call it that… - Posted by Ben (NJ)
Posted by Ben (NJ) on March 02, 2000 at 17:17:23:
is that you may quickly outgrow the Roth, since the
maximum qualifying income for an individual is $95,000 per year and $150,000 for a couple. Hopefully, most of us here will eventually “fail” to qualify (lol).
Re: the only “bad” news, if you can call it that… - Posted by Tony-VA
Posted by Tony-VA on March 02, 2000 at 23:18:19:
Ben, I think you missed an important point here. You may not be able to contribute any more after you reach those levels, but you can still reinvest those funds for years at incredibly high yields through creative REI.
Who cares if you can’t contribute $2k each year anymore, when you can reinvest the income created by the Roth into more and more REI and other similar deals. I think you will find that you have more than a full time job just trying to keep reinvesting the cashflow from these deals. Creative REI can quickly snowball inside these IRA’s.
Just my 2 cents,
Tony-VA
As an alternative to IRA’s my accountant recommended… - Posted by Ben (NJ)
Posted by Ben (NJ) on March 04, 2000 at 07:05:13:
a company pension plan, more specifically the defined benefit contribution plan, here you can shelter up to 25% of your income per year, (I believe with a max of up to $30,000 per year).This is a powerhouse plan because the cap far exceeds the $2,000, not tax-exempt though, just deferred. Picture putting $30,000 per year in some of these quadrupling tech stocks with tax deferred gains and you can see the infinite potential here. If you want more info let me know.