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Retirment Pension

Retirment Pension

Old Feb 24th 2009, 7:35 pm
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Default 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.
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Old Feb 24th 2009, 7:37 pm
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Default Re: Retirment Pension

Originally Posted by silverbirch View Post
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?
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Old Feb 24th 2009, 7:51 pm
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Default Re: Retirment Pension

Originally Posted by silverbirch View Post
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.
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Old Feb 24th 2009, 8:03 pm
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Default Re: Retirment Pension

Originally Posted by fatbrit View Post
How old are you?
Are you employed?
FT, I'm employed full time and age 36.
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Old Feb 24th 2009, 8:10 pm
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Default Re: Retirment Pension

Originally Posted by silverbirch View Post
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.
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Old Feb 24th 2009, 8:12 pm
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Default Re: Retirment Pension

Originally Posted by robin1234 View Post
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.
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Old Feb 24th 2009, 8:47 pm
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Default 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.
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Old Feb 24th 2009, 9:32 pm
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Default Re: Retirment Pension

Originally Posted by silverbirch View Post
FT, I'm employed full time and age 36.
Call the HR department and ask them what the match for their plan is.
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Old Feb 25th 2009, 1:12 am
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Default Re: Retirment Pension

Originally Posted by Pharrya View Post
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?
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Old Feb 25th 2009, 5:33 pm
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Default 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
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Old Feb 25th 2009, 9:02 pm
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Default 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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