Would you like to win $5,000 for to invest in a Roth IRA (or for any other reason)? Yeah, me too! Fortunately for you, we are participating in a $5,000 giveaway. Unfortunately for me, I’m ineligible to win. But you can, so let’s get to the good stuff!
Win $5k for Your IRA
OK, it’s actually win $5k for your IRA if you are under age 50, or win $6k if you are over age 50, but that just doesn’t have the same ring, does it? These amounts were chosen because they represent the IRA contribution limits by age. And as alluded to above, the intent is to have the winners invest this money in an IRA, but you can actually use the money however you wish. But wouldn’t it be super sweet to have a portion of your retirement paid for by winning a giveaway?
Why give away $5,000 for a Roth IRA?
There is a #RothIRAMovement happening right now, in which over 125 financial bloggers and columnists, media companies, and financial companies are spreading the word about Roth IRAs and why they are such a great retirement investment opportunity.
Companies around the US are freezing their pension plans, leaving most employees with the prospect of facing retirement with Social Security, and what money they have saved in their 401k plans or IRAs. Unfortunately, most Americans aren’t saving enough. The idea behind the #RothIRAMovement is to make people more aware of the long term benefits of investing in an IRA.
About the sponsor. This giveaway is sponsored by IRAmarket, a new service that helps you compare banks’ and brokers’ IRA programs. Their goal is twofold:
- To increase the number of US households who contribute to IRAs each year from 15% in 2010 to 20% by 2016.
- To make it easier for everyone to compare IRA providers in a quick and easy manner so they can make informed decisions about their retirement investments.
IRAmarket uses a variety of comparison tools to help investors find the best bank or brokerage firm for their investments. They can also help you analyze your 401k plan to determine if you would be better off rolling your 401k into an IRA (hint: in many cases, you can find lower expense ratios and other overhead if you roll your 401k into an IRA).
How to enter the giveaway
Entry is free and easy – all you have to do is click the “Go to Contest” button and “Like” the IRAmarket FaceBook page. Then you will have a chance to enter the giveaway. You can also click the “Like” and “Follow” buttons for each of the giveaway partners, including Special thank you to everyone involved: IRAMarket, GoodFinancialCents, Christian Personal Finance, PT Money, GenX Finance, & Budgets Are Sexy.
This contest is open from now through April 8, 2012. You can enter one time for a chance to win the maximum IRA contribution of $5,000 or $6,000 if you’re age 50 or older. After you enter, you can share the contest with friends and family for additional chances to win a matching prize.
Here are the official rules.
Best of luck, and don’t forget to contribute to your IRA even if you aren’t the lucky winner!