this didnt take long, senate to investigate Bush

[Miller101]

Originally Posted by firstdown

First off you do not buy a Roth you set one up using a financial product. You have a limit of how much you can put into one but having two does not make one bit of sense so please explain this.

Dude, I filled out a form and sent a check. I call that buying. I do not remember setting up a financial product. I just remember throwing the darts then sending a check with the paper work, but it was a while ago.........................................I'm a little confused. Explain what exactly? Having two roths that were kicking butt ruled dude! You do realize that you can take money out and use it for college right? And if you leave the principle alone you can roll over your profit and buy another stock without any taxes or anything else! I believe there are some more advantages too. I just can't think of them right now, but those two things alone made it worth it.

[firstdown]

Originally Posted by Miller101

Dude, I filled out a form and sent a check. I call that buying. I do not remember setting up a financial product. I just remember throwing the darts then sending a check with the paper work, but it was a while ago.........................................I'm a little confused. Explain what exactly? Having two roths that were kicking butt ruled dude! You do realize that you can take money out and use it for college right? And if you leave the principle alone you can roll over your profit and buy another stock without any taxes or anything else! I believe there are some more advantages too. I just can't think of them right now, but those two things alone made it worth it.

The point about having two Roths using stock as the investment tool to fund the Roth is what does not make any sense. A Roth is just a plan that you can put a maximum of $5,000 (for the average single person) in this investment which is taxable but it builds tax free and at age 591/2 you can take withdraws without paying any taxes. I guess you could by 2 Roths but you could still only put $5,000 combined into the accounts (I'm still not sure if thats even true). You can use the money for college but there are restrictions to how much you can use without getting hit with paying taxes on that money.