Kids, it's that time of year again. It is always a good time to save for retirement, but the beginning of the year is especially tasty, so get to it. Unless you make simply buckets of money, your 2006 Roth IRA contribution should be $4000.00 -- it's a pain in the ass, but you can save now OR learn to like Select Kitty salmon puree. The choice, of course, is yours.
What's this about the
IRA? I'm not even Irish...
Some folks think that maybe the government will change the rules for Roth IRAs when they see all that money sitting around and the boomers aging and costing more and more. It's a possibility... but the government already skims from the non-Roth investments I have. They're already taking their cut every year of my non-Roth growth. I'm hoping that I'll come out at least slightly ahead on the Roth... but since my Roth contribution is limited, I have other savings-for-retirement that are eggs in a different basket. If your budget allows, I'd advise you to diversify -- don't be stuck depending on any one thing for your old age, particularly not if that one thing is
social security. Also, if you are misguided enough to think that your work will support you in your old age for having been a faithful and loyal employee, take a look at the situations over at GM and Ford.
Save for yourself. The government will not save you.
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