Expert: Willard R. Brumbaugh, LUTCF - 6/9/2009

Question
Hi. I am 27 years old and am self employed. I want to start planning for retirement, is now a good time to start a roth ira or not because of the economy? Would it be more safe to put my money in a high yeild savings for now? Thank you.

Answer
Dear Charity,

If you were to look at what banks are calling "high yield" these days, you would be shocked. For safety as well as long term growth, I would recommend Fixed and Fixed Index Annuities. Neither of these are subject to stock market risk, and historically these have done better than bank CDs.

Now is an excellent time to start a Roth IRA. The ups and downs of the stock market have no bearing on when is a good time to contribute to Roth IRAs.

Willard R. Brumbaugh, LUTCF
CA License 0374776
www.willardbrumbaugh.com
(888) 792-2379