Word: iras
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Dates: during 2000-2009
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...bill isn't all bad. Beginning in 2002, it introduces a generous college-tuition deduction that increases up to $4,000 a year. But that lasts only through 2005. The bill expands the education ira to an annual contribution limit of $2,000, up from just $500, and for the first time permits that money to be put toward private elementary, middle and high school costs. Some see that as a stealth move toward a voucher system because it helps more families afford private school and thus undermines public education...
...retirement accounts. The coin market has gone into orbit the last 20 years with some rare currencies commanding million-dollar price tags. Numismatists have a powerful lobby on Capitol Hill, and coin dealers have been fighting hard to repeal a 1981 law barring rare coins from being included in IRAs. No, you couldn't turn that penny jar you've got stored in the closet into an IRA. But if you've got a coin broker making money for you in a nationally recognized coin-trading network, Breaux's measure would let you sock those profits away...
...York-based financial planner Melissa Levine says an IRA also gives you more flexibility. Instead of picking from a handful of mutual funds, an IRA offers infinite choices: stocks, bonds and funds. There are drawbacks: you can't borrow against your savings, as you can with a 401(k). But if you lose your job, you'll have to pay back any loans against your 401(k) anyway. If you don't, the loan amount is usually treated as an early distribution--that 10% penalty again...
Other benefits of IRAs: you can withdraw funds from an IRA for a first home or higher education expenses without paying an early-withdrawal penalty. And in some cases, you may be able to convert the IRA into a Roth IRA, which allows your assets to grow tax-free...
...certainly seems seductive at the moment," says producer Ira Pittelman, who hopes to have a musical based on the Oscar-winning Moonstruck in workshop this fall. "People are looking to classic films and, in a way, Moonstruck is an aria with big, wide emotions." And if you can't wait for these shows to make the long trip to the stage, the first post-Producers movie-inspired musical is already here: The It Girl, about the life of silent-screen-star Clara Bow, which New York City's York Theater Company has just opened off-Broadway...