SEP IRA

Posts Tagged ‘SIMPLE IRA’

Remarks by Governor Elizabeth A. Duke

Question: are Credit Unions really better than Banks?

i’m just a simple checking acct kinda gal. not looking for loans or ira’s, just tired of Wamu and thinking it’s time to change, is it worth it for me? what do you look for when comparing credit unions if rates don’t apply?

Answer: The trade off is that for car or home loanes you will get a slightly better rate. The down side is that you will only have a few locations to go to unlike the larger bank.

Real Estate Financing – Seller paid Closing Costs with Low Down – RealEstateMarketingThisWeek.com

Question: May I desolve my standard IRA’s into simple Interest bearing accts w/o losing tax deferral status?

I have 3 IRA accounts, and I’m tired of their cyclical ups & downs. I’m nearly 50 yrs old, and would like to – simply put – place them into a simple interest bearing account NO LONGER tied to the stock market, money markets or such.

Answer: It has to be in an IRA in order to get the tax status, IE avoid taxes and penalties. You can open an IRA at any bank, credit union, brokerage, or mutual fund. Any bank or credit union can open an IRA in which your money is invested in a simple money market. All you have to do is roll your money from your current IRA to a new IRA.

Where are your IRA’s invested with now? There should be an option for a money market fund, GNMA fund, or money managed fund that is not tied to the stock market.

By the way… The stock market (not including Nasdaq) is sitting at a virtual all time high. Your account should be larger than ever. What are you currently invested in?

Roger Waters – Ça Ira – Acto I. Escena 2 “Honest Bird, Simple Bird…” / “I want to be king”