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Getting Personal: Saving for retirement, recovering from a bankruptcy
Getting Personal
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This week, we find out how a college student can start saving for retirement, whether or not a couple should save for retirement or save for a down payment on a home and how to recover from a bankruptcy.
He was confused as I was confused because he thought there was a minimum amount required to open an account. You said there wasn't and indeed, there are no laws about that. http://basenji-dog.net/
Just a couple of refinements to the comments made to the college student who was thinking about opening an ROTH IRA. He was confused because he thought there was a minimum amount required to open an account. You said there wasn't and indeed, there are no laws about that. But, he may well have been looking at investing in mutual funds, many of which have minimum investment requirements. Also, you said that you can pull the money out at any time. Really, you can only pull out the principal at any time; there is a penalty for pulling out the earnings early.
Thanks for the fun show!
