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bronco2078
Posts: 10,088 ✭✭✭✭✭
A group of 314 people between them have 81 billion in IRA's
Aren't these maxed out at $2000 contribution a year ?
0
bronco2078
Posts: 10,088 ✭✭✭✭✭
A group of 314 people between them have 81 billion in IRA's
Aren't these maxed out at $2000 contribution a year ?
Comments
<< <i>Aren't these maxed out at $2000 contribution a year ? >>
It used to be 2K a year but now I think 5.5K and 6.5K if you're over 50.
There are probably other ways that they got so much into their accounts but they could have rolled it over from 401K or SERP accounts or maybe invested well and grew it in the accounts
<< <i>Sorry, but I find that hard to believe...actually unbelievable. >>
Not hard to believe when one realizes that with access to the right information small amounts can be turned into fortunes. Wealthy people do not let IRA funds sit idle, they aggressively invest. They see it as a tax haven hedge fund. Remember, regular IRA funds and all of their investment gains grow untaxed until withdrawn. The law of compounding makes them ideal for great gains.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Bain Capital , and Mitt Romney are mentioned.
I can see how it might be easy to suggest the partners all load up on shares of a beat down company and then puff it up . Lather rinse and repeat works pretty well in a tax free IRA.
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<< <i>Sorry, but I find that hard to believe...actually unbelievable. >>
Not hard to believe when one realizes that with access to the right information small amounts can be turned into fortunes. Wealthy people do not let IRA funds sit idle, they aggressively invest. They see it as a tax haven hedge fund. Remember, regular IRA funds and all of their investment gains grow untaxed until withdrawn. The law of compounding makes them ideal for great gains. >>
I feel shunned. My IRA's weren't included in their windfall.
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<< <i>
<< <i>Sorry, but I find that hard to believe...actually unbelievable. >>
Not hard to believe when one realizes that with access to the right information small amounts can be turned into fortunes. Wealthy people do not let IRA funds sit idle, they aggressively invest. They see it as a tax haven hedge fund. Remember, regular IRA funds and all of their investment gains grow untaxed until withdrawn. The law of compounding makes them ideal for great gains. >>
I feel shunned. My IRA's weren't included in their windfall.
You must not be getting the right information. You need to get on cohodk's mailing list.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
No, they are not limited to $2000. SEP IRA's are based on self employment income.