Re: help with personal investment
Many people are of the belief that a Roth IRA is a type of investment. It's not. It's a type of account. With a standard IRA, you are allowed to right-off the contribution as "deffered income." In other words, you never really had the money, it just went straight to a retirement account, so you don't have to pay taxes on it until you draw it when you're retired. With a Roth IRA, you pay taxes on the contribution as income, and then never again. This year, $4K is the max contribution (it going to $5K in a few years). If you put that $4K into a Roth IRA, all it means it that whatever growth that money experiences goes untaxed. To make the money grow YOU can choose mutual funds, stocks, bonds, CD's, etc...
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