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silverbirch Feb 24th 2009 7:35 pm

Retirment Pension
 
Which is the best sort of retirment pension to take out in these troubled times.
I wouldn't bother at all but I need the tax relief. :)

fatbrit Feb 24th 2009 7:37 pm

Re: Retirment Pension
 

Originally Posted by silverbirch (Post 7319117)
Which is the best sort of retirment pension to take out in these troubled times.
I wouldn't bother at all but I need the tax relief. :)

How old are you?
Are you employed?

Bill_S Feb 24th 2009 7:51 pm

Re: Retirment Pension
 

Originally Posted by silverbirch (Post 7319117)
Which is the best sort of retirment pension to take out in these troubled times.
I wouldn't bother at all but I need the tax relief. :)

Start a cash-based business. Then buy a king-size mattress.

silverbirch Feb 24th 2009 8:03 pm

Re: Retirment Pension
 

Originally Posted by fatbrit (Post 7319126)
How old are you?
Are you employed?

FT, I'm employed full time and age 36.

robin1234 Feb 24th 2009 8:10 pm

Re: Retirment Pension
 

Originally Posted by silverbirch (Post 7319206)
FT, I'm employed full time and age 36.

In 2009, you can contribute up to $16,500 to your employer's 403b or similar (401k, etc.) This money is tax-deferred so saves you a lot of income tax now.

silverbirch Feb 24th 2009 8:12 pm

Re: Retirment Pension
 

Originally Posted by robin1234 (Post 7319219)
In 2009, you can contribute up to $16,500 to your employer's 403b or similar (401k, etc.) This money is tax-deferred so saves you a lot of income tax now.

Interesting.... thanks Robin.

Pharrya Feb 24th 2009 8:47 pm

Re: Retirment Pension
 
You can also contribute a maximum of $5000 to a traditional or Roth IRA. Note you have until April 15th to contribute for the 2008 Tax year.

fatbrit Feb 24th 2009 9:32 pm

Re: Retirment Pension
 

Originally Posted by silverbirch (Post 7319206)
FT, I'm employed full time and age 36.

Call the HR department and ask them what the match for their plan is.

robin1234 Feb 25th 2009 1:12 am

Re: Retirment Pension
 

Originally Posted by Pharrya (Post 7319348)
You can also contribute a maximum of $5000 to a traditional or Roth IRA. Note you have until April 15th to contribute for the 2008 Tax year.

$6,000, isn't it?

Pharrya Feb 25th 2009 5:33 pm

Re: Retirment Pension
 

$6,000, isn't it?
Only if you're 50 or over. He says he's 36 so it's only $5k

Bob Feb 25th 2009 9:02 pm

Re: Retirment Pension
 
Got kids? Could dump some cash into those those student plans, bit rubbish but it'll lower your taxable.


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