I have Citizens Banking, and they have this new rewards program. When you earn enough points for a $25 reward, you can either get it as cash, have it go into a savings, an IRA or a Money Market Account. I was thinking it's free money to start an IRA or MMA with, but I don't know much about them.
Is this a good idea, or should I wait til I have a bigger amount?
$25 to a Money Market Account or IRA?
January 11th, 2008 at 03:40 pm
January 11th, 2008 at 03:57 pm 1200067042
What is the interest rate that the MM fund is offering?
Not knowing those answers and t'were me, I might put it toward the Emergency Fund or Tax Fund.
Do you have an ING account? They have a nice little IRA program that you can start for about 250.00.
January 11th, 2008 at 04:09 pm 1200067776
January 11th, 2008 at 04:20 pm 1200068415
January 11th, 2008 at 04:31 pm 1200069090
January 11th, 2008 at 04:58 pm 1200070704
If we had a magic ball that would tell us what tax bracket we would be in after we retire, then the decision on which to choose would be easy. Since we don't, most people keep some money in both Roths and traditional IRAs or 401Ks.
January 11th, 2008 at 05:03 pm 1200071039
January 11th, 2008 at 05:09 pm 1200071392
Nothing wrong with starting small. Just keep it going!
January 11th, 2008 at 05:24 pm 1200072271
Nice job getting the extra money though in any case.
January 12th, 2008 at 03:55 am 1200110122