How to get money ?
Answers: Fast money? Get a job as a male STRIPPER! Faster money? male prostitute! HAHAHAHA!
try to find a job around your area, or offer things to neighbors such as raking leaves, or shovling snow, theres aliot of ways to do it!
babysit kids, or tutor kids in certain subjects.
get a J O B
work for it.
Drugs. or pimpin. or both
The quickest way to make money fast, get a great body, AND a guaranteed job with a lot of respect all in one: Join the military!!
National Guard $20,000 enlistment bonus and a lot of time spent at home unlike the main Army branch.
work is usually the best way....join the army(sign on bonus)
become a fortune teller(you knew I would say that)
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Hope I helped =]
Good Luck!
Job,or lottery!
What is a roth ira and where do i buy one?
Answers: One of the smartest money moves a young person can make is to invest in a Roth IRA. Follow the rules and any money you put into one of these retirement-savings accounts grows absolutely tax free -- you won't owe Uncle Sam a dime as you let your savings accumulate, or when you cash it out in retirement. Plus, an IRA is more flexible than a 401(k) and other retirement plans because you can invest it in almost whatever you want, from stocks and mutual funds to bonds and real estate.
If you haven't yet opened this gift from Uncle Sam, do it now. You have until your tax return deadline to set up and make contributions for the previous tax year. The government sets a limit on how much you can contribute to a Roth. That limit was $4,000 in 2007, and it rose to $5,000 in 2008. That means if you act before April 15, you can invest $4,000 right now to count for last year, giving you a solid start to your savings. And you have until next year's tax deadline to kick in your $5,000 for 2008.
The idea of saving on your taxes may seem a tad obscure, but it really can pay off big. If a 25-year-old contributes $5,000 each year until she retires and makes an average annual return of 8% on her investment, she'll have $1.4 million saved by the time she retires at age 65. And the money is all hers -- she won't have to give the IRS a cent of it if she waits until retirement to cash out. (Use this calculator to see how far your savings can take you. Enter "0" in the tax rate boxes to simulate the tax-exempt status of a Roth IRA.)
If that same 25-year-old invested that same $5,000 a year in a regular taxable account earning the same 8% return, she'd only have about $1 million after 40 years if her earnings were taxed at 15% federal. That's more than one-fourth less money than if she'd gone with the Roth. If she owed state taxes on the money too, she'd be down even more.
Roth rules
As with any government gift, the Roth IRA comes with a few strings attached. First, you can contribute to a Roth only if you have earned income from a job. Say you're in school, you're not working and you have a little extra money left over from your student loan or your parents gave you money. You cannot put it in a Roth. Also, you cannot save more than you made. So if you worked a summer job and made only $3,000, the most you can contribute to a Roth is $3,000.
It's also possible to make too much. You can contribute the full $5,000 in 2008 as long as your income falls below $101,000 if you're single, and $159,000 if you're married filing a joint tax return. The contribution limit is then phased out incrementally if you make between $101,000 and $116,000 (single) or $159,000 and $169,000 (married-joint). Make more than those upper limits, and you don't have to cash out the account -- you simply cannot contribute any more money to a Roth IRA.
If you expect to exceed the Roth income limits at some point during your career, you should open a Roth now while you're young and your salary is low enough to get in. If a 25-year-old saved $5,000 a year for only five years, then didn't contribute another dime for the next 35 years because his income was too high, that money would continue to grow -- to nearly $481,000 by the time he turned 65. That alone certainly won't be enough to retire on, but it'll be a nice tax-free bonus to his other retirement savings.
Bonus!
If the savings power, flexibility and tax-free status aren't enough to convince you of the Roth's virtues, Uncle Sam throws in a few extra perks, making the Roth an indispensable tool in a young adult's financial life.
You can take money out in a pinch. Although the purpose of a Roth is to save for retirement, and your money can grow only if you leave it in the account, you can withdraw your contributions at any time, tax free and without penalty -- and you don't have to pay it back, like you do with a 401(k). Of course, it's best to leave your money in the account so you can earn more money, and you really should have a separate emergency savings account on standby, but it's nice to know the Roth is there for you if you need it.
Notice we said you can take out your contributions at any time -- not your earnings. If you withdraw any of your earnings before age 59½, you'll trigger a tax bill on the money, plus you'll have to pay a 10% penalty. Ouch.
You can tap your Roth to buy your first home. The IRS lets you cash out up to $10,000 from your Roth IRA tax- and penalty-free -- which can include earnings -- to help you achieve the American dream. However, the account must have been opened for five years. You could use tax-free money from your IRA to buy a house starting in January 2011. That $10,000 limit is per person, so couples could withdraw up to $20,000.
If you don't meet the five-year test, you still can take out the money for your home purchase, but you'll have to pay taxes on it. You won't have to pay the 10% early-withdrawal penalty, though.
You can use it to save for Junior's education. Many new parents don't know whether to save for retirement or the baby's college tuition. Hands down, retirement wins. There are loans to pay for college, but none to help fund your retirement. But starting a Roth is a great way to cover both bases, just in case. Focus on your retirement now, saving as much into a Roth as you can. And as your finances allow, consider opening a specific college-savings account for the new baby -- say, a Coverdell or 529 plan. Then, when the day comes for Junior to head off to school, you can assess whether you can afford to -- or need to -- sacrifice some of your retirement dollars to make it happen.
You can, of course, take out your contributions at any time to help pay the bill. If you dip into earnings, you'll owe taxes -- but you don't have to pay the 10% early-withdrawal penalty if you use the money for college. The Roth shouldn't be used as the sole savings vehicle for higher education, but it's nice to know you can use it if you need it.
How to open a Roth IRA
When you're just getting started investing, the Roth should be your first stop -- even before you open a regular, taxable account, or contribute to a workplace retirement-savings plan. The only exception is if your employer offers a match on your 401(k) contributions. That's free money you don't want to pass up. In that case, contribute enough to win the match, then send any extra money into a Roth IRA. (Yes, you can invest in both a Roth and a workplace retirement plan.)
You can invest your Roth IRA in almost anything -- stocks, bonds, mutual funds, CDs, or even real estate. It's easy to open an account. If you want to invest in stocks, go with a discount broker (see how different companies compare). For mutual funds, go with a fund company. For CDs or money market accounts, you can go through your bank.
Because you're young and have a long way to retirement, you'll want to invest in the stock market to get the highest returns over time. Rookie investors should stick to mutual funds that invest in stocks. They're easy to understand, you leave the stock-picking to the pros and they make it easy to spread your risk around several stocks or bonds without putting all your eggs in one basket.
Most mutual fund companies even lower their minimum investment requirements when you open an IRA. T. Rowe Price, for example, requires $2,500 to invest in a taxable account, but IRA investors need only $1,000 to get started -- or as little as $50 a month if you sign up with its automatic investing program.
Use Fund Finder to search for funds with low investment minimums and that meet your other criteria. Stick to no-load funds with low expense ratios (the average expense ratio for stock funds is about 1.5%). And check out How to Invest With $500 or Less for some specific low-cost fund recommendations, and for more information on diversifying and evaluating your investment options.
Many fund companies will let you open an account and make contributions online. Make sure you designate what year the contributions are for.
Not sure where to find the money to fund your account? Consider investing your tax refund. About 70% of us will get a refund this year, and last year the average check totaled more than $2,000. That cash would make a great start to your Roth.
Another way to fund your account is to put it on autopilot. Most banks and brokers will allow you to set up an automatic investment plan taking the money directly out of your bank account and putting it into your Roth. It's much easier to find the cash when it's considered already gone than if you have to make a physical effort to write the check each month.
Wow, Jack writes a lot.
A roth is a retirement plan that you can contribute after tax money. The benefit is when you withdraw, you pay no tax. It grows w/o tax liability. Nice deal
A conventional IRA contributions that can be deducted from your taxes. However there are several restrictions and you have to pay tax when you w/d.
www.americancentury.com
The previous reply is correct...a bit lengthly, but correct.
You cant buy a Roth IRA. You open it (like a bank account). It allows you to put away after taxes dollars (i.e you net salary or take home pay) towards your retirement. If you keep it there for at least 5 years, you can withdraw any or all the funds you've deposited penalty free. The only time you pay a penalty is if you withdraw the earnings/capital appreciation earned while your money was invested in the Roth IRA.
You dont really buy a Roth IRA. You can find various banks or financial institutions that offer them. Kinda like a special account that you can put money in and will grow tax free.
Some places like Bank of America, Citibank, Chase will offer them as will investment firms like fidelity. Fidelity happens to be good because it offeres you (in my opinion) more investment options to choose from.
You have to have income (a job and salary) to open one. You investment (what you put into it) could be couple hundred dollars or $4000 dollars (max in 2007), depending on how much cash you have.
I would suggest going to fidelity online (easy), opening an account, send them a check before April 15th (tax day) and make a 2007 roth IRA deposit. Then once the money is in the Roth IRA account, you can invest it in a low cost mutual fund or exchange traded fund that will grow over time. Every year make a contribution to this account. No I dont work for Fidelity but I do have both Citibank and Fidelity Roth IRA accounts and prefer the investment options you get with Fidelity.
Hope this helps.
Should I get rid of PMI on my home, or invest the funds in a Roth IRA?
Answers: Get rid of the PMI -- get as much equity in your home as you can and then save the same amount each month that you would have been paying in PMI -- invest that money in whatever retirement program would work the best for you at your age. Here's a tip no mortgage lender will tell you -- if you pay off your mortgage and own the roof over your head, everything else you need to do financially in your life becomes so much easier and less stressful. Even high property taxes can usually be handled IF you own your home. It is the single smartest thing you can do for yourself and your family...
i like bananas, mangos are sweet, i like pu-piuh, but nothing can beat the sweet love of GOD!
-wanda joubert
Classic question---- if you have money on hand--- should you use it to lower bills or save for yourself...
personally my answer---- why not do both. split the money 50-50. Both are very important for your financial goals.
If you use some money to start your ROTH, maybe it will motivate you to do it regularly (i always urge friends and fam to try to use auto invest options right from your bank)
also- by putting some of the money to pay off principal on your mortgage, you will be that much closer to eliminating PMI-- which hopefully will motivate you to work towards this as well.
Alot of little changes will add up big over the long run, hopefully for the size of your IRA and benefit of your mortgage.
As an aside---- what a great time to invest, market is way off its highs-- last year was volatile, but indices are still positive. This year starting off rough means a great time to buy in.
Good luck!
Well, I don't pay PMI because I have two separate loans instead of one loan on my home, so you can achieve the goal of eliminating PMI without having the 20% (is it?) equity in your home.
I think it would depend on how much interest you pay on your mortgage insurance, and how much interest you would receive in a Roth IRA. Also, what are the tax implications of each choice-how much money would you save on taxes.
Also, if you later want to/need to access these funds, which choice will let you do so with the least penalty.