The Magical Roth IRA

The Magical Roth IRA

By The Banker | Blog Posts, Investing, Personal Finance, Taxes

Less than two weeks left to fund your 2012 IRA, so I’m continuing my series on these maddeningly humble, but potentially interesting, retirement accounts. But, to get caught up, please see earlier posts on The Humble IRA, IRAs don’t matter to high income people and A rebuttal: The curious case of Mitt Romney   The

The Curious Case of Mitt Romney and the (up to) $100 Million IRA

The Curious Case of Mitt Romney and the (up to) $100 Million IRA

By The Banker | Blog Posts, Investing

Contradicting what I wrote in my previous post about IRAs being irrelevant to upper-middle class and wealthy people, we have the curious case of Mitt Romney, who reported in his 2010 tax returns an IRA worth between $20 million and $100 million.  At that level of assets, I must acknowledge he’s the exception to my

Upper Income People Can't Be Bothered With The IRA

Upper Income People Can’t Be Bothered With The IRA

By The Banker | Blog Posts, Personal Finance, Taxes

Please see my earlier post on The Humble IRA.   Does the humble and homely Individual Retirement Arrangement (IRA) matter to well-paid people? I remember being shocked in the late 1990s when my mentor Jim on the bond trading floor at Goldman declared “I don’t bother with IRAs because nobody’s getting rich investing through an

The Humble IRA

The Humble IRA

By The Banker | Blog Posts, Investing, Personal Finance

Hey everybody exposed to some form of media of the Financial Infotainment Industrial Complex: there’s just a short time left until the April 15 deadline to contribute to your tax advantaged IRA for the previous tax year.  Which would be impossible not to know, at this point. Oh, the humble, the homely IRA – is