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Too Frat To Care 
New Orleans Saints Fan
PMAC
Member since Mar 2011
5171 posts
 Online
| Roth IRA (Posted on 2/28/13 at 3:30 pm)
I am looking to invest in a Roth through a local company here in Baton Rouge. Is it truly in your opinion the right time to get one started now?
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Teddy Ruxpin 
LSU Fan
New Orleans, LA
Member since Oct 2006
12377 posts
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quote:
I am looking to invest in a Roth through a local company here in Baton Rouge. Is it truly in your opinion the right time to get one started now?
Money board. And there is no wrong time to start an IRA.
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Too Frat To Care
New Orleans Saints Fan
PMAC
Member since Mar 2011
5171 posts
Online
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Just realized I posted it on the wrong board. 
-Thanks for he help. Trying to invest at a early age but a rookie when it comes to investing.
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TupeloTiger
LSU Fan
Tupelo,Ms.[via Bastrop,La.]
Member since Jul 2004
2195 posts
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It's always the right time to start an IRA. Roth is for after tax income, can not write it off up front off the top. Roth is usually for older people nearing retirement that don't want to pay taxes again on it when you use it or withdraw any funds. Try the Money Board for more responses. I have both types of IRA's due to tax planning.
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TigerDeacon 
Wake Forest Fan
West Monroe, LA
Member since Sep 2003
23050 posts
| re: Roth IRA (Posted on 2/28/13 at 5:40 pm to TupeloTiger)
quote:
Roth is usually for older people nearing retirement that don't want to pay taxes again on it when you use it or withdraw any funds.
Not necessarily.
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lsu13lsu
LSU Fan
Member since Jan 2008
1135 posts
| re: Roth IRA (Posted on 2/28/13 at 5:43 pm to TupeloTiger)
quote:
Roth is usually for older people nearing retirement that don't want to pay taxes again on it when you use it or withdraw any funds.
I disagree here. Roth is for anyone with money to save now that has an already low effective tax rate. Although I am willing to bet any rate we currently have will be considered low in the not so distant future.
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TupeloTiger
LSU Fan
Tupelo,Ms.[via Bastrop,La.]
Member since Jul 2004
2195 posts
| re: Roth IRA (Posted on 2/28/13 at 6:22 pm to lsu13lsu)
Yes, the above guy is probably right,so do your research and study before you do it, there's a lot of pros and cons. My decisions were based on age 57 and low interest CD's,like the lus13lsu said. Good luck.
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