What are your financial resolutions for 2017? Do you want to start a side gig, create a solid budget or save more money?
Maybe you woke up on January 1 determined to accomplish all of these in the next 12 months. But nearly three weeks later, you can’t imagine why you ever thought that was a good idea…
If you’re already prepared to to give up on your New Year’s resolutions, let me offer you a lifeline.
I’ve got a super-simple way to start saving for retirement — and earn up to $3,000 while you’re at it.
Why Open an IRA
First, if you don’t know, an IRA is an “individual retirement arrangement” and lets you save for retirement with a tax break on up to $5,500 a year in contributions.
Generally, advisors recommend contributing to a 401(k) first if your employer offers it, especially if they match your contribution.
After that, an IRA can be a smart way to save beyond a 401(k)’s contribution limits, or a way to save for retirement if you don’t have a 401(k) option.
You may consider opening an IRA for several reasons:
- You’re moving jobs, and your new employer doesn’t offer a retirement savings plan.
- You’re moving jobs, and your new employer’s 401(k) plan sucks.
- You’re leaving your job to work for yourself or stay at home.
- You’re already self-employed or don’t work, but you want to start saving for your future.
How to Earn Up to $3K for Opening an IRA
Right now, Lending Club is offering a huge bonus for new and existing accounts. Open a new IRA account, and you could earn up to $3,000!
Lending Club is unique because it uses a peer-to-peer lending model.
Instead of investing in stocks, when you open an IRA with the company, you invest your money in quality borrowers looking for low-interest loans. And lenders still see returns between 5% and 7%.
Plus, if you’re leaving a job with an existing 401(k) or 403(b), you can roll it over into a Lending Club IRA.
Here’s how it works…
1. Deposit between $5,000 and $100,000 in new funds (can include a 401(k) rollover) before April 30. Remember: You can transfer funds from an existing retirement account — these funds don’t have to come straight out of your pocket.
2. Invest the funds into Lending Club Notes before June 30.
3. You’ll receive a bonus between $150 and $3,000 (depending on the amount you invested) to your Lending Club account by August 31. You can’t withdraw the bonus funds as cash, but you can also use them to invest — and continue to grow your retirement savings!
Your Turn: How are you saving for retirement?
Disclosure: Here’s a toast to the affiliate links in this post. May we all be just a little richer today.
The post This Company Will Give You Up to $3K for Opening a Retirement Account appeared first on The Penny Hoarder.
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