How to open retirement account
I am a childcare provider. In this profession there is no 401 k or retirement savings for this profession what can I do for retirement savings?
Terry Says
You should immediately contact Fidelity (800=FIDELITY) and ask them to open an Individual Retirement Account (IRA)for you. Set up an automatic monthly deduction from your checking account to add to this account. You’ll get a tax deduction for your contribution. Or if you’re in a low tax bracket — ask them to open a ROTH IRA — where all the money grows tax free.
If you’re over 60 and this sounds too complicated for you, just go to your bank and ask them to open a ROTH IRA account for you and put it in a money market deposit account. It won’t earn much now, but the rate is likely to rise soon. And the important thing is that you’re saving tax-free for retirement.
