Macho Money Definitions - What Is An IRA?

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Macho Money Definitions - What Is An IRA?

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vid_whatisira.jpgWhen talking investments, IRA is the abbreviation for “Individual Retirement Account,” not “Irish Republican Army.” According to About.com, IRAs are basically savings plans with lots of restrictions. The main advantage of an IRA is that you defer paying taxes on the earnings and growth of your savings until you actually withdraw the money. The main disadvantage is the tax law imposes stiff penalties if you withdraw the funds before you turn age 59.5 years old. There are different types of IRAs, each with their own tax implications and eligibility requirements. And here is a little fun fact, IRA's stem from the early 1970s when NBC broadcasted a television special called “The Broken Promise,” which showed Americans the consequences of poorly funded pension plans. In this short video, USAA Certified Financial Planner Scott Halliwell explains IRAs in further detail.


See also...

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Video - MOAA Spouse

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The Military Officers Association of America is the nation's largest and most influential association of military officers.  It is an independent, nonprofit, politically nonpartisan organization.  They are the leading voice on compensation and benefit matters for all members of the military community, and are a powerful force speaking for a strong national defense and representing the interests of military officers at every stage of their careers.  Learn why male military spouses should pay attention and get involved with what MOAA is doing.

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When She Comes Home

The following article was written for us by Ann Rayne, we found it very informative and full of solid advice.

When your loved one is away, it can be hard getting used to taking care of everything at home on your own. However, in some cases, their homecoming can be just as stressful as their absence.

Of course you want to help them enjoy their time off as much as possible, but sometimes, especially if you have little ones that require a lot of attention, there's no avoiding the stress of responsibilities that come with being home. You can get overwhelmed trying to find the balance between making their return home relaxing and incorporating them back into the daily routine. Also, they can get overwhelmed trying to take on their share while transitioning back into home life.

HuffingtonPost.com interviewed Sgt. First Class Kent Phyfe and his family to talk about the stress of homecoming. He said that while coming home is great, his wife doesn't deny that reintegrating him back into family life "is one of the hardest parts about being a military couple." He explained that the spouse at home has to be the mother and the father, taking over all the roles in the house. It can be difficult to release the duties at the drop of a hat to another person. While it's an issue that sounds trivial to those that don't experience it, it is actually quite straining on a couple.

 



 

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