Confusion over IRA's

Steve & Ted
Tuesday, February 20th

Moneytracker Don Grant with survey results about saving in an IRA.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

I think the economy is good because unemployment is down. Seven and thirteen thirty KMS and into the morning now. 647. With. Three big things. And icy blast in south central Kansas City and swat team called out after shooting himself Wichita. Why. Authorities still searching for missing five year old Wichita boy. Three big things Steven tip on tape in advance and. Roadways this morning we've got iced and elevated him. Roads and bridges ferry IC very slippery. Be Sedgwick county dispatchers actually telling motorists to stay off of the highways in which topped off of the elevated roadways. Stick to the surface streets are your best bet those surface streets. Sleet covered and starting to get. Ice pack because the traffic on them so just be very very cautious out there this morning traffic update let's take an SS radio on jet chambers. Winter weather advisory until noon today cloudy and cool freezing drizzle this morning a high of 35 degrees today. Partly cloudy and cold tonight the overnight lows sixteen. Wednesday partly sunny and cool tomorrow's high 34. And the National Weather Service is saying we have freezing rain fog and a thunderstorm going on tend to look under out there. 25 degrees now in the north wind gusting to 26. Miles per hour. Janus as weather brought you by the monarch. Voted one of the best urban bar is in America by the Durban review located at 579 mr. Douglas in historic delay you know the monarch. Big full of lightning this morning at four minutes after finding him. Patrick has started thinking. I don't remember the last time I heard thunder. The dog. It's been awhile but it area are on February out of this morning. Lot of folks heading back to work this morning and a lot of the slide and often damaged or Ayman trapped in a while ago. We did about I don't know what was it about 233 and started a started going off roadways some of them overturned a U slightly down ramps it just got real slick all of a sudden. And it's been that way and if you're out there in traffic right now they easy. And crazy you'll get there soda a little bit. Or says the schools as we've been telling you this morning which to public schools already getting service states so those kids we're gonna sale now the Catholic schools have also. Citing a ticket they often most of the schools in this area the from Cedric county east. And decided it. Checked it today were a talkative and and we'll wait till tomorrow after taken at three days off for the President's Day. Stocks resumed trading today after taking Monday off. Friday the S&P 500 gained a point the Dow rose from nineteen in the NASDAQ lost seventeen points down was last Friday I was warning that you can't. Minnesota officials will soon try to convince a jury that. Manufacturer 3M company. Should pay the state five billion dollars to help clean up environmental damage that the state alleges. Was caused by pollutants the company dump for decades it and long awaited trial begins today in Minneapolis any of free am. By the end his Minnesota they have Masset that's their main company I guess in Minnesota. And now that state saying hey Heath if we know your very valuable to us but you can't just do that but he allies states have on the pick up the bill for. Lot of Molina. A federal judge has approved a 300 million honorable for Puerto Rico's power company. The officials say will help keep it operating until March that's a month or two weeks. Monday's ruling comes just days after the judge had rejected an initial one billion dollar loan request. Made by a federal control board overseeing the US territories. Finances the judge had set officials did not provide sufficient evidence. Proving Puerto Rico's electric power authority needed the money. And nearly two months after recreational marijuana became legal in California. Less than 1% of the State's known growers have been licensed. According to a report released Monday. By a pot industry groom. Though line I'm not setup which means and the states missing out on all at revenue yeah. On they'll get on Afghanistan dug in around 651 now Stephen dead and Doug grant the money trackers supposed to be with a right now I'm but you know I'm sure he's having his ballot scrape off his windshield that takes a while it takes a while British overseas that the chauffeur to get out there and you know get things up to snuff but I think he is with us now to talk about IRAs. Good morning John. Well good morning Steve you know. That teachers insurance and annuity organization commonly called CI AA crap. Does a lot of research on retirement savings and while many Americans know lot about the different retirement savings plans available to members 82017. TIAA survey. Uncovered some pushing reasons why many Americans don't contribute to an Ira or or one K. Now one major reason. We're not saving is confusion. 46% of Americans who don't maintain and direct link they don't have enough money to save more than they currently do. 28% of Americans without an iris say they just don't know enough about them. 17%. Think that. They are just too complicated. Younger workers in the gen Y or millennial generation are less like likely in your baby boomer parents to have our raised. And they cite a lack of knowledge about him as the primary reason more women 51%. Of men 41%. Say they don't have any additional money to save for retirement. Younger workers have the most to gain by understanding and interpret for contributing to an Arab. Time can't be their best brand it could assuming an 8% straight line rate of return with just 200 dollars invested each month. A 25 year old could grow their account to 622000. Dollars by age 65. 35 year old invest in the same amount per month. Would have just 272000. Dollars at age 65. And 45 year old would have just 1101000. Two thirds of Americans say that they understand that there can be taxed that happens to funding and Ira but more than half of them of the respondents say that they actually understand. How the tax benefits work. Now one of those at now of those who. Don't hold and Ira 43% that say that they would more likely consider opening and Ira after learning about the benefits and the potential tax deductions. Iris and other retirement plans are not really that complicated. The longer the time horizon of the investor the greater the opportunity to grow assets. And defer or eliminate taxes on the growth. Of their investments and of course if you have any questions about Irish anti age you give me call the number 6342222. Yeah I do and understand it and I I agree I know you don't talk about I don't understand what that that complicated to. The pretty really pretty simple straightforward but. Yeah well first somebody who has been who has had never invested in their life yet again getting into the work force and plus they may have heard. Horror stories about you know 20082009. Or the stock crashed bubble and no Juan I mean they they may be used afraid. To invest and so they they they stay away from. Bryant. Listened this is national love your pets today. The data and your pets and focus on the relationship you have your pets and the you know that most households in the United States have at least one pet. And while there are more cats than dogs in the United States more households have dogs and cats but not by much. So the answer other than most. Or audio yeah the cats don't have holes so I guess that's what it says about it. Don your pet you want to dogs. We've got to Cavalier King Charles Spaniel also one is. I guess you would equate to a toddler right now really he's about six months old and it's just a great great great guy and he needed to doggy in the we've got an older female and she's she's she put up with him. Which it daughters again. Did they look like a small cocker spaniel but they're called Cavalier King Charles Spaniel. Interest into the apartment training wind becoming a that the younger one becoming a therapy to. That's good because I'm pretty fancy name for a dog it probably brings down the toilet. Yeah well. These are. I don't think it re enact all of that goodness that is exactly. Or actually they did 655 nasty. The dead coming up at 7 o'clock McKay and his his morning news was even dead we'll update you on the weather and tell you about it might roll which boy who is still missing. Seated in the morning on K and SS.