In a message dated 12/18/2003 10:00:26 AM Central Standard Time,
bstanke@xxxxxxxxxxxxxxxxx writes:
Me thinks you may have been in the insurance game a little too long!
I once bought my wife a shiny new Roth IRA. I don't think it was a big hit,
since she had been hinting for diamond earrings...
You will get little argument from me on the first point. And the beat goes
on . . . at least for another 3 to 5 years. What did the market do yesterday?
The Roth IRA, if one is eligible, is a beautiful thing. Tax free growth and
withdrawal. Does not get much prettier than that.
Started a traditional IRA about 18 years ago. Put money in for a couple of
years. Stopped contributing as I started another qualified plan that would
include my employees. IRA just sat there. It took a few steps forward and then
a
step or two backwards and I just left it alone. The contributions going in
were tax deductible. When I retire the distributions will be taxed, however
the
distributions will equal the payments on my long term care policy, the
premiums for which are tax deductible. Sounds a great deal like a "wash" to me.
Bottom line, for about $4,000 in tax deductible dollars a few years ago, I've
paid for my long term care insurance in retirement, protected my retirement
assets and given myself and my family many more options in the future. I guess
I
done all right, Bubba. Blind luck goes a long way sometimes. This is a
beautiful deal.
Now, about those earrings. Sorry, I'm not going to try to convince your
bride that the Roth is as pretty as the earrings you should have bought her,
but
it is not too late for you. You are both are above ground, taking up space and
sucking air, so you still have time. Now go to your stash closet and see
what you can live without. And yes, we all have some of that. Post it FS to
the
list and then ebay. Generate some cash. Now go out and do what any good
self respecting husband would do. Give her what she wants! That will make her
happy and she will be nice to you. I know, she already is nice to you, but it
will take her mind off the nice shiny new Roth IRA. She may even forget about
it and then when you retire she will look at what the Roth has done and tell
you what a brilliant man you were for having given her the Roth so many years
ago. She will be nice to you again. You can always replace the stuff you
sold.
Yes, I've been at the game too long. {8^) Bill Barber
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