Book Excerpt

Welcome to ItsYourIRA.com

It’s Your IRA!

Roth IRA, Traditional IRA, 2007 Contribution Withdrawal Rules
Text Box: Introduction Welcome to It’s Your IRA and the exciting world of retirement planning. Whether you are an experienced investor or brand new to retirement planning, this book will help you better understand IRAs and how you might want to establish one for yourself. Technically an IRA is an Individual Retirement Arrangement but it is usually referred to as an Individual Retirement Account. As the financial world becomes more complex, and as the burden of retirement planning shifts from government agencies and employers to individuals, the need to better understand IRAs has become more important than ever before. Unfortunately many people do not learn about IRAs in school or from their parents and are therefore at a great disadvantage. I hope to change that. This book is written as a beginners guide to investing in an IRA. In the following pages I intend to help clarify common confusion and to give you the information you need in order to make wise decisions about your IRA. You will see very clearly how a little knowledge can make a big difference, especially when talking about retirement planning and IRAs. We will begin our quest for knowledge about IRAs by first looking at your role as an investor. We will then explore five very important principles of financial planning followed by an explanation of IRA fundamentals. We will delve into the various types and categories of IRAs. Then we will identify and discuss the critical factors that you should consider before opening an IRA. We will attempt to alleviate any remaining concerns or anxieties you might have by walking you through the process of opening an account so that you will know exactly how to do it and what to expect. Your confidence will increase as you read and see how easy it actually is to set up your IRA. Finally we will examine the success and failures of those who have gone before us on this quest. I will introduce you to four individuals, Angie, Suzan Tom and Lisa. Angie and Suzan are similar in many ways, both the same age; both make the same mount of money, etc. However they make different decisions when it comes to putting their money into IRAs and the results are drastically different. Tom and Lisa do not have much in common other than they both decided to open a Roth IRA. You will see how a few different decisions created very different results. Angie contributed $72,200 to her IRA and ended up with $124,122. On the other hand Lisa only contributed $49,200 to her IRA but ended up with a whopping $484,050! By the end of the book you will completely understand what made the difference. Hopefully you will be able to relate the lessons from these scenarios to your own life and be able to learn from their mistakes rather than from your own. This book is intended to cover the basic principles of financial planning and to act as a beginners guide to investing in an IRA. You will learn all kinds of interesting things about IRAs. You will find answers to your important questions such as: What is a Traditional IRA? What is a Roth IRA? What other types of IRAs are there? How do I know which is best for me? What are the rules? What factors should be considered before opening an account? What I should know before asking an advisor for help? You will also become familiar with how to open an account and exactly what to expect. I hope to replace any fears or uncertainties with knowledge, confidence and excitement. That is what I want you to gain from this book. I have no hidden agenda; I am not trying to “sell” you on IRAs. I do not “push” or even recommend a particular type of IRA. Nor do I recommend exactly where you should open your IRA. My goal is to help you through the process of deciding what is best for you, given your individual situation. As you will see, I believe it is best that you make that determination for yourself. After all… It’s Your IRA.

Copyright 2007.  Its your IRA!  All Rights Reserved.
Text Box: Available From Lulu Press as: Text Box: Paperback $10.95 Text Box: E-book $4.95 Text Box: Or... Buy Online at: Text Box: Amazon Text Box: Books A Million Text Box: Barnes & Noble Text Box: A1 Books Text Box: Lulu Text Box: Powells