I now have my money in an IRA. Would it be a good idea to take iout and buy stock in a company like verizon?

Question

I now have my money in an IRA. Would it be a good idea to take iout and buy stock in a company like verizon?

Answer 1

no mutual funds are the way to go, not individual stocks

Answer 2

You will have tax penalties for early withdrawal of an IRA. I know because I had to close one and paid 10%. Keep it there if you can for at least 5 years, then you can take out a little without the huge tax penalty. Check the bank's policy.

Stock is not a sure thing. I wouldn't do it in today's economy.

If I wanted my money to grow, I would set aside some extra money and put it in a CD.

Answer 3

Invest in multiple companies.Don't invest all amount in one single company.

Answer 4

DO NOT TAKE OUT your money from your IRA.  I work as a CSR in a bank and that is the worst thing you can do

Answer 5

Any investments in the stock market, especially individual companys can be very risky. Just because a company is a large corporation doesn't make it a great investment.

The days of Buy and Hold are over.

Gold and Silver are always a safe option.

Answer 6

The Communications sector is loaded with companies in the "bottom 25" rankings right now for investing. I would not pull anything out of your IRA. 10% penalty + taxes will take away profits gained in the IRA. What you are wanting to do is incredibly risky and not a good move in my opinion.

Answer 7

What do you mean "take it out"?  Like take it out for personal use?  If that is what you mean then you will get hit with payroll taxes (If deducted pretax from your check) plus a 10% fine.  That is pretty hefty.  

If you are talking about buying stock with your retirement money then go for it and it is a good idea.  I have my IRA money in stocks right now and it is great.

If you don't have this setup, then do a rollover and move it to any major brokerage.

Answer 8

If you take money out of an IRA before you are 60, you will have to pay a 10% tax penalty

Answer 9

You don't have to take your money out of your IRA to invest it in Verizon stock. Doing so would trigger taxes and nasty penalties.

Answer 10

its a good time to buy stocks, but why verison? if you invested in something like a mutural gas company fund, think about how much money you would make in one year alone. i can't tell you how much i made

Answer 11

Investing in a big company is fine but they run on popularity so it's a larger risk. Find a smaller company or talk to a financial adviser,  for more help. Edward Jones is a great company and could really help with your questions.

Answer 12

Stock market is on its butt.  If you have time to hold on to it and hope the market improves then i might do it otherwise i would leave it alone.