For most people who want to build a nest egg for retirement, one of their best choices is to open an IRA account. The reason is simple, IRAs are tax-deferred personal retirement plans. That means you owe no taxes until you withdraw your IRA money. But no IRAs are the same. There are those IRAs that comes with annual maintenance fees for administering your IRA account.
But, what if you can find an IRA with no fee at all plus a cash bonus?
Sharebuilder by Capital One offers a no fee IRA with a $50 cash bonus. Here is how you can take advantage of this IRA promotional offer:
1. Open a new Sharebuilder Individual Retirement Account (IRA).
2. When you open the IRA account, you must use this promotion code 13IRA50FOR5K.
3. You must use the promotion code on or before January 10, 2014.
4. Deposit at least $5,000 in cash into your new IRA account by January 31, 2014.
If you meet all of the above requirements, Sharebuilder will add the $50 cash bonus to your new IRA account approximately 4 to 6 weeks after the qualifying deposit.
One thing that is not convincing to grab this IRA promotional offer is the restriction that money deposited into the account must remain in the account for at least 9 months. In addition, the cash bonus is not available for withdrawal for at least 180 days after it has been awarded.
Given the restrictions, this IRA promotion is better off on people with extra funds to stash away but for the ordinary person who is living pay check by check this may not be his take.