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From: jphalter@ihuxb.UUCP
Newsgroups: net.taxes
Subject: IRA
Message-ID: <534@ihuxb.UUCP>
Date: Fri, 2-Mar-84 19:08:22 EST
Article-I.D.: ihuxb.534
Posted: Fri Mar  2 19:08:22 1984
Date-Received: Sun, 4-Mar-84 00:24:00 EST
Organization: AT&T Bell Labs, Naperville, IL
Lines: 11

What I know about IRA's in 5 lines or less:
  1. Consumer Reports did an article last year about IRA's and came out
     sounding very positive. You need not tie up your money for 40+ years.
     Payback time for an IRA withdrawal is about 8-9 years, meaning you'll
     come out ahead by leaving the money in an IRA for 8-9 years AND then
     paying the 10% withdrawal penalty + taxes. (This assumes your tax
     bracket isn't outrageous in 8-9 years.)
  2. $2000 in MY bank account seems like a better deal to me than $700-800
     in the IRS's bank account. I, at least, retain control over the money
     and it is available for 60 day loans without penalty.
Well...10 lines or less....