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IRA's offer deferred taxes on the interest earned until the money is withdrawn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
Deferred Taxes
Individual Retirement Accounts: Why Bother?
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Wotking Into Retirement
Baby Boomer Health, Money, and Retirement Concerns
Benefits Of Early Retirement
Planning Retirement
Retirement Planning
Retirement Revamping
Traumatic Effects Of Retirement
retirement decision
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