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IRAs are great for retirement accounts, but that’s that all!
There are many little-known uses for an IRA to shelter money from taxes.
Normally when you pull money out before retirement, you are penalized with an additional 10% tax, but here are some ways to avoid that extra fee…
First off, an IRA (Individual Retirement Account) is NOT an investment.
An IRA is a shelter for investments. A tax shelter.
In an IRA, you have the options to buy stocks, bonds, mutual funds, money market accounts, CDs and, in some cases, real estate.
The purpose of using an IRA as an investment account to hold all of these securities is simple…