AboutWillard R. Brumbaugh, LUTCF Expertise I have answered many questions regarding 401ks, IRAs and annuities as well as life insurance.
I have been counselling against most Qualified Plans since 1994.
Experience Ranked in the top 5 in retirement catagories at Askme.com most of its last 2 1/2 years. Organizations I belong to:
National Association of Insurance and Financial Advisors-California
Inland Empire Estate Planning Council
Education/Credentials Life Underwriters Training Council Fellow
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
