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Aug. 1, 2007

TOMORROW'S INSIGHTS TODAY

Not the same old Southwest


FILE/DMN
FILE/DMN
Southwest's big challenge is trying to raise revenues to compensate for higher costs, says Southwest chief executive officer Gary Kelly.
By TERRY MAXON / The Dallas Morning News

Let's say you're sitting in your assigned seat, surfing the Internet while flying to catch a connecting flight to Europe.

Today, you wouldn't be flying Southwest Airlines Co. when you do any of that. But in a few years - who knows?

In a major re-examination of what makes it tick, Southwest is considering a lot of steps that would have been unthinkable in years past.

Read more in tomorrow's Dallas Morning News or online at dallasnews.com/business
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TOMORROW'S INSIGHTS TODAY: Scott Burns

Roth IRA can add flexibiity to your retirement plans


Question: My wife and I are getting ready to retire in January 2010. We are maxing out our 401Ks for retirement (current value about $225,000). My wife will have a small pension, which may be enough to buy food. Is it too late to start investing in Roth IRAs? We could max out this year through retirement.

Also, I'm thinking about working just enough to max out Roths until age 70, which will be eight years from now. We own our home and have no debt.

J.K., Dallas

Answer: Starting and funding a Roth IRA is a great idea. Having an investment account that doesn't require minimum withdrawals after age 70½ or create a taxable event when you make a withdrawal will add significant flexibility to your retirement. It will give you more control over your tax bill. It may work to reduce the taxes on your Social Security benefits.

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