Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10 5/3/83 based; site hou2b.UUCP 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