How to Get the Federal Government to Fund Your Retirement Account

So you're getting a stimulus package check for $300 to $1,200, but instead of blowing it on useless possessions, let the government pay for your retirement! Here's how.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Your stimulus package check ($300 to $1,200)
• An IRA account (traditional or Roth)
• A telephone or computer with Internet access
• 10 minutes or fewer

1. Obtain your stimulus package check when it arrives sometime in mid-2008, and deposit this into your personal banking account.
2. Call your IRA brokerage firm or log into your account online.
3. Deposit the amount of funds you received from the government into your IRA account.
4. Depending upon your IRA investment strategies, invest into whatever type of investment vehicle(s) you have chosen. This could be basic mutual funds, real estate or individual stocks.
   
   If you are less than 50, you are much better served investing in a growth related stock fund.
5. Review your performance every 6 months to gauge your Return on Investment (ROI), and make adequate changes when necessary. Consider losses, high expense ratios, or stagnant returns as a major negative, and consider moving your investments into a different location.

Tips & Warnings

• If you have excess credit card debt, it would be wise to consider paying this down instead of the IRA investment. Consult a financial planner if you have detailed questions.