Buy custom Individual Retirement Accounts: Why Bother?
Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1787 |
Essay's paper body
Thus, regular
savings accounts are not a practical method to save for retirement; however,
IRA's offer deferred taxes on the interest earned until the money is withdrawn
from the account. Therefore for a given amount of money, there is a
considerable advantage when saving in an IRA. For example, according to Heady:
if you were to save $2000 dollars a year at 6% for 30 years under the terms of a
regular savings account, the total earnings would be approximately $120,900
after paying taxes; however, if you were to shelter $2000 a year at 6% in an
Individual Retirement Account that amount would increase by $48,000 dollars to a
total of $168,000 because of the tax-deferred feature (60)...
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For example, according to Heady:
if you were to save $2000 dollars a year at 6% for 30 years under the terms of a
regular savings account, the total earnings would be approximately $120,900
after paying taxes; however, if you were to shelter $2000 a year at 6% in an
Individual Retirement Account that amount would increase by $48,000 dollars to a
total of $168,000 because of the tax-deferred feature (60)...
Essay fragment
General points of the essay
Individual Retirement Accounts: Why Bother?
Medical Savings Accounts
Social Security Reform: Increasing Taxes and the Retirement Age
Baby Boomer Health, Money, and Retirement Concerns
Deferred Taxes
retirement
Retirement Planning
retirement decision
Planning Retirement
Retirement Revamping
Retirement Speech
Retirement Paper
Wotking Into Retirement
Traumatic Effects Of Retirement
Benefits Of Early Retirement
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