What is the IRA Success Contribution Limits Scholarship for College Students?
IRA Success is pleased to announce our first $500.00 academic scholarship.
Did you know that 46% of Americans have less than $10,000 saved for retirement?
Americans are not saving enough for their retirement. It is estimated that Social Security, the primary retirement fund for most Americans, could run out of money by 2031. Only 40% of Americans have an Individual Retirement Account (IRA) and only 15% of Americans regularly contribute to that account.
America needs your help!
Retirement is typically considered a topic for longer-lived folks, 50 years or older. Given that the key to financial success in retirement is time, how would someone who has youth on their side plan ahead. We want to know how a young person sees retirement in writing.
As of 2014, IRA’s (Individualized Retirement Accounts) have a contribution limit of $5500 a year, what we want to see is how you can use the IRA contribution limit to your advantage as a tool to create a strategy for acquiring wealth.
Who is IRA Success:
IraSuccess.com is a news and information website dedicated to providing accurate and expert content on the subject of individual retirement accounts, planning, and tax rules. Only 40% of the American public have an IRA, we want to improve those numbers drastically so individuals can enjoy their financial golden years. IRA Success is a resource for all those seeking information on Retirement and planning for the future.
Scholarship Essay Requirements:
How would you use your IRA account to maximize savings for retirement?
Student must write a minimum of 1000 words, explaining how the IRA Contribution limit can be utilized advantageously, in a clear, well thought out plan for creating long-term success for a wealth filled retirement.
To be eligible your essay should only consider the use of your Individual Retirement Account (IRA). No essays should discuss any other types of retirement programs. You can use any type of IRA account you want, Roth, Traditional, SEP, Self-Directed and/or Simple. Your plan can use one or any combination of IRA accounts to achieve your objectives.
Your plan must conform to the rules that govern contributions to IRA accounts. No essay will be accepted if it does not present ideas that are legally correct according to tax laws. IraSuccess.com has created an Ultimate 2014 IRA Cheat Sheet that details many of the IRA rules. Another source is the Internal Revenue Service.
The best essay will give clear details, demonstrate creativity as well as weave in the applicant’s personal thoughts. Substantiating your plan with charts, statistics, numbers, etc. will definitely improve your chances for winning this scholarship.
Who is Eligible:
All students enrolled in any US college or University as of October 28th 2014.
Determination of Award:
The Scholarship will be awarded to the student that provides the most innovative, practical and doable ideas. All essays meeting eligibility requirements will be posted on the IraSuccess.com website for all visitors to see. Determination of award winner will be decided solely by the management of Ira Success and its parent company, Manhattan Capital Group Inc.
All essay scholarship submissions become the property of IraSuccess.com and Manhattan Capital Group Inc. All submissions will be posted online once the submission period has ended. The scholarship award will be paid directly to the winner’s school for credit to the student’s account.
How to Submit:
Deadline for submissions is October 28, 2014 at 12 midnight Eastern Time
Please email completed essays in a Word doc format only, with name, mailing address, phone number, email address, college or university enrolled in to include your current year, expected graduation date and major to email@example.com. All information submitted must be correct and accurate to be accepted for consideration.
Scholarship questions should be directed to us at Contact Us
We encourage anyone who has an interest in innovative solutions to submit an essay entry as long as they meet the eligibility requirements.