Up-and-Coming Sensation
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Have you begun investing in IRAs? Individual Retirement Accounts as they're called here in the US are crucial for retirement planning. It's said that you want to have 1 million dollars saved up in order to retire today! That's a huge amount of money but if you learn to put aside some of your earnings each month into investments, over the course of 40 years you should be able to achieve that goal.

IRAs are tax-deferred normally but in the US we go by what each state has for it's laws and in my state we pay the tax going into the investment whereas in other states you don't pay the tax until you pull the money out (which is how it's set up in the first place!).


Madly Diligent
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Valued Contributor
Yes, my previous boss suggested I invest into an IRA, as that money can be used to lower taxes if you have to pay in. I haven't saved to one just yet, but I am planning to do so soon, as I need to build up my retirement fund fast.

As for needing a million or so to survive on retirement, I hope that's not true. I definitely don't have that amount saved up. But, maybe one of these days.


Addicted Member
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Over here, most of the government employees get pension funds. Also, we have an account where some of our amount would usually get stored for the retirement benefit alone.
If I am not wrong, I believe it's called provident fund. Our employers would also give some money for these accounts. I am no good, when it comes to these common things, as I don't follow news much. I will have to rectify that sometime.


Graphic Designer
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I think that the fact that government pays pension and gratuity had made people to avoid been bordered with saving money for retirement


Paragon Member
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I don't think i need IRAs at the crucial stage of my life, but if i reach some certain stage i will go for IRAs due to the benefits attached to it, i am a forex trader so currently am buying and selling of currency, i must confess its a great platform, moreover when its time for me to go for IRAs i will.


Ledgendary Member
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We don't have any feature like IRA in my country. What we have is just pension and probably gratuity that comes along with it. pension and gratuity is our money that is taken from employee's salaries and are kept until when they retire so that they will be given the money at their retirement age.


Ledgendary Member
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My 3 siblings are lucky that they can have the IRA because they are US citizens. But in our country there is not company that you can trust with a pension or retirement plan. Paying the monthly share for your build up and then the company would go bankrupt. There are such cases already so people cannot trust those insurance companies that are offering the pension or retirement plan. We can only depend on the government's pension once we retire. The maximum monthly pension now is $200.


Paragon Member
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Another important thing to remember is, if you are are rolling over assets received from another IRA, you are allowed one roll-over everyday 365day period. If you are doing a roll-over into IRA from an employer's qualified plan, you are allowed more than one roll-over per year.


Seasoned Veteran
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The IRA you just mentioned in the thread seems very good to the USA citizens especially because l my country l have heard of similar organizations but not that one exactly. But as you in the beginning, saving such amount of money will do us great if we manage and invest our monthly salary we receive in programs like such.


Ledgendary Member
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This is one investment that I'm seriously looking into this year as I don't want to plan for my kids to be my retirement as is usually done in my part of the world.
It would also give me the power to grow wealth slowly and steadily as well.
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