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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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27840824 No.27840824 [Reply] [Original]

Convince me to fund a retirement account.
The tax implications sound great, but I can't withdraw until I'm 60 and have to remain a US citizen.
I have no idea where I'll be when I'm 60, one of my grandparents had full blown alzheimers by then. And who knows if they'll raise the age.

>> No.27841075

>>27840824
You can withdraw whenever you want. You just pay a 10% penalty on whatever you withdraw.

If you got a $1,000,000 in it, and withdraw $10,000, you pay $1,000 in penalties for early withdrawal. That's it.

IRA's are insane speculative vehicles.

>> No.27841112

>>27840824
No, fuck you

>> No.27841117

>>27840824
you think you'll get to retire? china's going to declare war on us soon. we will all be dead by 2040.

>> No.27841386

>>27840824
Don't bother. All whitoid retirement accounts will be seized and given to blacks as reparations.

>> No.27841445
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27841445

>>27841386
You okay?

>> No.27841561
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27841561

>> No.27841759

>>27840824
You can withdraw whenever, and you can take low interest loans against it that make it nearly as good as having the money in the bank.
I've been using my IRA to speculate in the market and made 92% returns this year off of SunRun and NIO, among others.

>> No.27841974

>>27840824
You should open a Roth and max out the contribution every year. It’s a financial safety net. Try to get rich before 60 but if you end up not making it you will still be okay.

>> No.27841981

I'm guessing you didn't know where you'd be at age 14, but you still gave a shit in high school because you knew you'd need to get into college. And then you gave a shit in college because you knew you wanted to get a job. Thinking about where you'll be when you're 60 is called long-term planning and is foreign to most 4channers but is a good way to ensure that at that age you're not bagging groceries at Smart and Final

>> No.27842503

>>27840824
Bro...
You can play options in your an IRA and Warrants AND just SPACs in general.

>> No.27842601

>>27841561
>>27842503
I meant this for you.