|
West Tennessee | I always encourage people to use them and everyone in my family has them (or something similar). There have been lots of good comments here about diversification of assets that I think truly apply. There seems to be a common thread on here that land is everyone's best investment and that may be so for some but isn't an option for everyone. Where can you buy land for $5,000 per year and take that off of your taxes? I also encourage people to start when they are really young and get in the habit before kids and school expenses come along and make it harder to do. If you start the habit early you are more likely to continue it. My kids have had IRAs since they were young teenagers. They don't understand much about them right now but they will eventually. One other important point is that they are NOT short term emergency fund savings plans. They are expensive if used in that way and I also see too much of that. | |
|
Thoughts on IRA's
