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Roth IRA or CD?
Posted on 5/22/17 at 1:40 pm
Posted on 5/22/17 at 1:40 pm
Which of these does the TD guru's prefer?
What are the advantages and disadvantages of both.
What are the advantages and disadvantages of both.
5
Posted on 5/22/17 at 1:42 pm to Badman
Off the top of my head a cd will return you next to nothing right now. I'll let more informed people give you the specifics.
Posted on 5/22/17 at 2:00 pm to Badman
quote:
What are the advantages and disadvantages of both.
Well a Roth IRA is a retirement investment account and a CD is slightly better than just leaving cash parked in a savings account. The advantage of a Roth IRA is tax free growth on investments. The disadvantage is being unable to withdraw earnings until 59 and 1/2 without paying taxes and a 10% penalty. The advantage to a CD is you get a small amount of earnings on money that you may have just been parking in a bank account anyway. The disadvantage is that you can't access the money for the term of the CD without paying a penalty.
Posted on 5/22/17 at 2:11 pm to Badman
One is an account and the other is an investment so you're not really comparing apples here.
Posted on 5/22/17 at 2:55 pm to Badman
if you do not have a roth then start one. forget a CD. waste of time. read sticky at top to educate yourself.
Posted on 5/22/17 at 2:59 pm to Fat Bastard
Roth IRA in most cases. Unless you really make a lot of money let's say over 200,000 a year.
Posted on 5/22/17 at 5:23 pm to Badman
A Roth IRA is a type of account. A CD is an investment holding you can have in an account.
For example, you can contribute to a Roth and invest that money in a CD if you like.
Roths are great btw, better than savings accounts b/c gains are not taxed and you can pull out your contributions whenever you like without a penalty.
For example, you can contribute to a Roth and invest that money in a CD if you like.
Roths are great btw, better than savings accounts b/c gains are not taxed and you can pull out your contributions whenever you like without a penalty.
This post was edited on 5/22/17 at 5:25 pm
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