taxes---Grrrr!

[mooleycow]

if you open a traditional ira of $3000.00 you get back $800.00 extra on your personal fed. tax(Grrrr!) refund.  if  you need the money before 591/2 you can cash in and lose only about $200.00 bucks on interest and penalties.  every penny counts

[gunman63]

ah u have to also pay tax on that $3000, since u didnt when u first put it in the IRA, depends on which  IRA u use.

[terry f]

    I'ts always good to put as much as you can away, whether its pretax (traditional) or after tax (roth).