Annuities: Don’t Put Your Ira In A Variable Annuity – Part 2

In today’s tough economy, it is hard to make the right financial choices. There doesn’t seem to be a formula for insuring that your money will be safe. Nor, can you tell for sure that if you invest it today, the company that you invest in will still be around tomorrow. Think about all the big names that have fallen under the weight of today’s financial crisis. A few years ago, investing in companies like Washington Mutual and AIG were safe bets. Today, Washington Mutual no longer exists and AIG had to be bailed out twice by the federal government just to stay afloat. So how should you invest your hard earned money today to insure that when you need it tomorrow it will still be there?

The occurrence of depreciation is not likely in gold investment. Because the value of gold increases early. Enhancing your income can be done from buying and selling gold coins and other kinds of gold. Therefore, gold investment is profitable. Your future can be more comfortable by having gold coins in your investments.

No. 4: Those “certain situations” when you can use the money from earnings include $10,000 for the purchase of a first home. You can use this money for yourself, your child, your grandchild or your spouse’s child or grandchild. You can also use your Roth IRA for qualified tuition and college expenses for yourself.

Banks and stock brokers immediately saw the potential in this and even today they will set up the Top Saving IRA Accounts of 2019 for you. The problem with this is that most of the banks and stock brokers have their own interests in mind, and you the customer are barely earning enough money to keep up with inflation. This is not achieving your goal of a comfortable retirement is it?

It could cause you lots of problems in the future. So, don’t even try to think of ways to get around the law. Just abide by them. Other transactions that are prohibited in a real estate IRA include those that include yourself, your children, your parents, grandparents, grandchildren and other “lineal descendants”.

Telephone penalties. If you make a payment over the telephone, you’ll often encounter a “pay to pay” fee. They’re commonly assessed by utilities and cable and Internet providers and can go as high as $15. Many are waived if you pay online.

Try reducing non-essential monthly spending, rather than totally eliminating it. If you just cut eating out from your budget, you are very likely to miss it and not keep up the change. Just taking out one meal a month that you eat out can save you a great deal of money in the long run.

Through this two step process, high income earners can effectively fund a Roth IRA without tripping the means test restrictions. Congress is aware of the loophole and may decide to either close it or simply abolish the means test. It remains a viable strategy as of this writing.

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