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Brenda King Realtor in Wilmington NC

Blog by Brenda King
Wilmington, North Carolina

Exciting events and local news in Cape Fear Area

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Economy Strength

Nov. 7, 2008
Tagged with: real estate

 Let's think positve that the stock market will regain strength and your investments will grow over time. Getting caught up in short-term fluctuations will only cause distress. 

 A 401(k) account is the best  for saving and growing money for retirement—offering far more benefits than an IRA.

Not only are annual deposit limits higher in a 401(k), but if you're 50 years old or older, you can put extra money into your account annually.

A 401(k) has flexibility to borrow money from the account without taking a tax hit.A IRA  don’t allow you to borrow, only withdraw. And when you take money out, you’ll have to pay taxes and penalties.

 If you already have an IRA and  need some extra cash right now roll over your IRA to a 401(k)

However, borrowed money does have to be paid back within five years or you face a penalty. But at a reasonable interest rate (about 6 percent currently),.
 

 Socking money away in a tax-exempt "529" college savings plan, You can borrow money against that account, the majority of it tax free, by temporarily making yourself the designated recipient. 

If you must take money from the account, you should pay it back and redesignate your
child as the recipient.

Visit anytime www.brendakingrealtor.com


 Let's think positve that the stock market will regain strength and your investments will grow over time. Getting caught up in short-term fluctuations will only cause distress. 

 A 401(k) account is the best  for saving and growing money for retirement—offering far more benefits than an IRA.

Not only are annual deposit limits higher in a 401(k), but if you're 50 years old or older, you can put extra money into your account annually.

A 401(k) has flexibility to borrow money from the account without taking a tax hit.A IRA  don’t allow you to borrow, only withdraw. And when you take money out, you’ll have to pay taxes and penalties.

 If you already have an IRA and  need some extra cash right now roll over your IRA to a 401(k)

However, borrowed money does have to be paid back within five years or you face a penalty. But at a reasonable interest rate (about 6 percent currently),.
 Socking money away in a tax-exempt "529" college savings plan, You can borrow money against that account, the majority of it tax free, by temporarily making yourself the designated recipient. 

If you must take money from the account, you should pay it back and redesignate your
child as the recipient.

Visit anytime www.brendakingrealtor.com


 

 Let's think positve that the stock market will regain strength and your investments will grow over time. Getting caught up in short-term fluctuations will only cause distress. 

 A 401(k) account is the best  for saving and growing money for retirement—offering far more benefits than an IRA.

Not only are annual deposit limits higher in a 401(k), but if you're 50 years old or older, you can put extra money into your account annually.

A 401(k) has flexibility to borrow money from the account without taking a tax hit.A IRA  don’t allow you to borrow, only withdraw. And when you take money out, you’ll have to pay taxes and penalties.

 If you already have an IRA and  need some extra cash right now roll over your IRA to a 401(k)

However, borrowed money does have to be paid back within five years or you face a penalty. But at a reasonable interest rate (about 6 percent currently),.
 

 Socking money away in a tax-exempt "529" college savings plan, You can borrow money against that account, the majority of it tax free, by temporarily making yourself the designated recipient. 

If you must take money from the account, you should pay it back and redesignate your
child as the recipient.

Visit anytime www.brendakingrealtor.com


 

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