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mike
Guest
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 Posted:
Fri Nov 04, 2005 1:02 am Post subject:
retirement investing? |
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could someone please help me with retirement investing. Im only 30 and
havent put a dime towards retirement yet. But my accountant who does my
taxes keeps yelling at me that i should put money in a retirement plan or
kyoui. (probably spelled that wrong) This way i can deduct that amount off
of my taxes.
I dont understand what he means by that. So if i go to the bank tommorow
and put $20,000 in a kyoui, i get to deduct that off of my income when i do
my taxes next year? I am self employed by the way.
any info would be much appreciated.
thanks
mike
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Arthur
Guest
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Fri Nov 04, 2005 3:17 pm Post subject:
Re: retirement investing? |
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Are you slumming or trolling? Who in PA told you that IRS experts
hang out here?
arthur |
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axlq
Guest
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Fri Nov 04, 2005 11:57 pm Post subject:
Re: retirement investing? |
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I think you mean KEOGH. That's a tax deferred retirement plan for
someone who is self-employed. If you are employed by someone else,
you need a 401-K.
See http://invest-faq.com/articles/ret-plan-keogh.html
| Quote: | I dont understand what he means by that. So if i go to the bank tommorow
and put $20,000 in a kyoui, i get to deduct that off of my income when i do
my taxes next year? I am self employed by the way.
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If you have your own accountant, you shouldn't be bashful about
admitting your ignorance and demanding answers for things you don't
know. You should be asking your accountant, not this newsgroup.
-Alex
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Dr Tormento
Guest
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| Posted:
Sat Nov 05, 2005 1:02 am Post subject:
Re: retirement investing? |
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| Quote: | are you some kind of paranoid idiot?
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You're catching on quick to arthur..... |
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mike
Guest
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| Posted:
Sat Nov 05, 2005 1:02 am Post subject:
Re: retirement investing? |
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| Quote: | Are you slumming or trolling? Who in PA told you that IRS experts
hang out here?
arthur
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are you some kind of paranoid idiot? im asking for assistance here. |
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Arthur
Guest
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| Posted:
Sat Nov 05, 2005 1:02 am Post subject:
Re: retirement investing? |
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Yes but I was smart enough to get cured and now use Google to find out
who's trying to cheat me. I was warned to never trust MS Outlook too.
a |
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arbitrade3
Joined: 01 Nov 2005
Posts: 3
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Mon Mar 20, 2006 1:43 am Post subject:
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| I would also put money in a Roth IRA if you can. They are tax-exempt and always a good bet. You are also young enough to do some regular investing. I would talk to a financial planner as well as your accountant to see what you can do with the time you have. |
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Jenita
Joined: 02 Mar 2007
Posts: 2
Location: 23, Gokule road Chinna chokkikulam
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Fri Mar 02, 2007 9:54 am Post subject:
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Harness the power of stocks
Your first step in turning your retirement vision into reality is to invest more aggressively. The accepted wisdom of subtracting your age from 100 and investing that percentage of your portfolio in stocks may have cut it for the "Leave It to Beaver" crowd. But in a "Desperate Housewives" world -- where you could easily spend 30 years or more in retirement -- you need the growth power of stocks to bulk up your savings and make sure your money lasts a lifetime. |
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