Thread: Why would I want to open an IRA?
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Old 12-03-2005, 05:57 PM
jasonHoldEm jasonHoldEm is offline
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Location: Easton, MD
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Default Re: Why would I want to open an IRA?
Sadly I'm not an expert, but I believe IRA cotributions are deductible (so you reduce yoru income and play less taxes) and it grows tax free (i.e. the "income" generated between depositing and w/ding when you're 60 or whatever cycles through tax free so more money is going back into the IRA so with compound interest you make more money).

So yeah...it's basically the way to go for long term investments. If your situation is unique (or hell, even if it isn't) you should talk to someone smarter than an internet message board.

J
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