I want to start an IRA the will have 0,000 in it when I retire in 27 years. How much do I need to invest semiannually in the IRA to do this if the interest is 13% compounded semiannually?

 

  • ribbonzzzz 3:10 am on October 3, 2009

    Are you referring to a traditional or a roth IRA?
    For a roth, you would have to put around $3,300 a year…
    but for a traditional it would be around $3,900 a year… depending on the retirement tax and the amount you plan on making in retirement.

    Check out these sites:

    http://www.dinkytown.net/java/RegularIRA.html
    http://www.dinkytown.net/java/RothIRA.html

  • Avatar A 3:10 am on October 3, 2009

    yes

  • A Landers 3:10 am on October 3, 2009

    Check with Vanguard, Fidelity or a similar web site. I know I have seen a website that will give you this information.

    I would love to know where you can get 13% interest.

  • newjerseyguy 3:10 am on October 3, 2009

    13% is a pretty optimistic return, perhaps not too realistic for planning purposes.