kane@hou2b.UUCP (J.KANE) (02/29/84)
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