Are there any tax-sheltered savings/investment options which don't penalize the owner for early withdrawal ...

I am a fan of CDs because they are FDIC-insured and I know what I'm going to get. I am too conservative for stocks and I don't like having my money off-limits until whenever the government says it's time for me to retire. I've reviewed some of the options for non-penalized withdrawal from IRAs but still don't like the idea.

Are there any tax-sheltered savings options which don't penalize the owner for withdrawal prior to a mandated retirement age? I don't mind putting my money away for a longer term (i.e. 5-10 years) but at the age of 28, as conservative as I am with my money, my personal circumstances and that of the economy in 31.5 years is just something I'm not willing to "bank on."

So I'm looking for something with some kind of tax benefit that isn't quite so intense a commitment as these IRAs I hear so much about. I'm open to other limitations on use, just not the specific ones presented by IRAs.

Roth IRA...check into it. The money you invest into a Roth has already been taxed so that when you take it out, you don't pay taxes on it.

How about U.S. Treasuries and Municipal Bonds? These markets are kind of volatile now. But generall interest income is tax exempt and you can invest for the long term.

The Roth IRA may come closest to what you are asking for.

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