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Path: utzoo!watmath!clyde!burl!ulysses!mhuxl!houxm!hou2b!kane
From: kane@hou2b.UUCP (J.KANE)
Newsgroups: net.taxes
Subject: IRA for everyone?
Message-ID: <225@hou2b.UUCP>
Date: Wed, 29-Feb-84 15:48:52 EST
Article-I.D.: hou2b.225
Posted: Wed Feb 29 15:48:52 1984
Date-Received: Fri, 2-Mar-84 08:38:23 EST
Organization: AT&T Bell Labs, Holmdel NJ
Lines: 14


  An IRA is a clear winner if you can put 2K away for retirement each
year.  I am 25 years old and would like to take advantage of the tax
savings an IRA offers, but realize I will probably need the money
for a house in a few years.

My question is -- How many years must the money stay in an IRA to
show a decent profit? Presumably the 10% penalty for early withdrawal
will not hurt you too much if you participated in an IRA for several
years.  Does anyone have a program that inputs the expected 
annual IRA return, and the number of years you participated and spits
out what your net return is after deducting taxes and penalties?

--hou2b!kane
--John Kane