Comments on: Money Management: Which IRA Is Right For You? http://www.mint.com/blog/finance-core/money-mangement-traditional-vs-roth-ira-which-ira-is-right-for-you/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Fri, 20 Nov 2009 20:48:42 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Scott http://www.mint.com/blog/finance-core/money-mangement-traditional-vs-roth-ira-which-ira-is-right-for-you/comment-page-1/#comment-19091 Scott Wed, 26 Mar 2008 00:05:56 +0000 http://blog.mint.com/blog/finance-core/traditional-vs-roth-ira-which-ira-is-right-for-you/#comment-19091 Another option for the self employed and business owners is the Self Employed (aka Solo aka Individual) 401(k). For slightly more administration, you get a savings vehicle which allows you to sock away more than a SEP IRA at lower levels of income. Several companies offer them -- I like Fidelity because they don't charge you any admin fees. See http://personal.fidelity.com/products/retirement/getstart/newacc/keogh.shtml.cvsr Another option for the self employed and business owners is the Self Employed (aka Solo aka Individual) 401(k). For slightly more administration, you get a savings vehicle which allows you to sock away more than a SEP IRA at lower levels of income. Several companies offer them — I like Fidelity because they don’t charge you any admin fees. See http://personal.fidelity.com/products/retirement/getstart/newacc/keogh.shtml.cvsr ]]> By: Dave Dash http://www.mint.com/blog/finance-core/money-mangement-traditional-vs-roth-ira-which-ira-is-right-for-you/comment-page-1/#comment-19068 Dave Dash Tue, 25 Mar 2008 15:16:43 +0000 http://blog.mint.com/blog/finance-core/traditional-vs-roth-ira-which-ira-is-right-for-you/#comment-19068 We've been funding our IRA's to the max for a few years. This year the limit is 5K, and we're $1000 short of doing it. We uh, don't spend a lot of money, and any extra money I had lying around, etc went straight to the ROTH IRA... it was the primary goal so far. I may increase my contributions to my work's 401K now, before I was just avoiding it until the ROTH was filled. We’ve been funding our IRA’s to the max for a few years. This year the limit is 5K, and we’re $1000 short of doing it.

We uh, don’t spend a lot of money, and any extra money I had lying around, etc went straight to the ROTH IRA… it was the primary goal so far.

I may increase my contributions to my work’s 401K now, before I was just avoiding it until the ROTH was filled.

]]> By: Liz http://www.mint.com/blog/finance-core/money-mangement-traditional-vs-roth-ira-which-ira-is-right-for-you/comment-page-1/#comment-19067 Liz Tue, 25 Mar 2008 15:12:44 +0000 http://blog.mint.com/blog/finance-core/traditional-vs-roth-ira-which-ira-is-right-for-you/#comment-19067 Another option for independent contractors, self employed or business owners is a SEP IRA. You can invest a tax deductible amount of up to 25% of your income or $45,000, whichever is lessor for 2007. The money grows tax deferred until withdrawn and there are not annual contributions required. Here is the IRS site for more info on eligibility: http://www.irs.gov/retirement/article/0,,id=137864,00.html Another option for independent contractors, self employed or business owners is a SEP IRA. You can invest a tax deductible amount of up to 25% of your income or $45,000, whichever is lessor for 2007. The money grows tax deferred until withdrawn and there are not annual contributions required. Here is the IRS site for more info on eligibility: http://www.irs.gov/retirement/article/0,,id=137864,00.html ]]>