Finding The Best Solutions And Ideas For Planning For Your Retirement.
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What is the max? Does it vary on bank to bank? What is the best way to make a lump sum grow savings wise? How often does Roth IRA interest change? What are my risks or losing my funds over a 25+ year commitment?
I have a judgement against me for a significant amount of money. Can I contribute to a Roth IRA and not get the money taken by the people I owe with the judgement.
If so, is there a limited amount of money you can take out, can you do this only once? Do you know the rules behind Roth IRAs? What your allowed to spend ROTH IRA money on? Does that affect your credit score in any way?
This goes out to all the idiots who answered me before saying take your personal problems elsewhere, or i was dooped for having a 5th grade education. But actually i have 0,000 term life insurance, max out my Roth IRA everymonth, and have my own Primerica business. So for all you EMPLOYEES, or corporate slaves, i ask you, how much are you putting into your Roth? And lets not lie now, ok. Oh yea can you tell me what the rule of 72 is? Have fun at your 9-5.
This is yet another post I am making about one of my favorite topics, investing. We know that a traditional IRA is tax deferred yet will have taxes paid on it during retirement. A Roth IRA grows tax free and has tax free withdrawals pending certain conditions met. But why a traditional? There are some that argue that taxes are going up, which is probably true. Personally, I like both types of IRAs. With a Roth, you pay current income tax on contributions that have not even made any earnings yet. That alone will tend me to favor tax deferred traditional. A traditional IRA will earn more over time with the power of compounding without the hassles of annual taxes hitting it. Like I said before, why not get a low low paying job after you leave your main job so that you are now in a lower tax bracket? Instead of maybe 25% tax on withdrawals, now you will only pay 10-15%. See the difference? All that money has grown without annual taxes. Now pay as little as possible on earnings.
See what I mean? Why pay 25%(more or a little less) now on contributions that haven’t made any earnings instead of say, 10-15% later on while you are in a lower tax bracket? Makes sense to me. Don’t be so quick to run a Roth. If possible, contribute to a 401 k, 403b and so on and possibly a Roth IRA to be diversified. Like I said, I like both. I just tend to be biased towards tax deferred. I would rather pay taxes on what I’ve made. You wouldn’t pay income tax at your job before you’ve earned any money, would you? This is basically for those who don’t have an employer sponsored retirement program.
I have a Keogh which I’m rolling into an SEP, because I’m self-employed, and the amounts I can contribute to these types of plans is very high.
Can I also contribute to a Roth IRA?
I know I can’t contribute if my AGI gets too high, so for this question I’m assuming I squeak in under the limit. If it’s lower than the Roth cutoff, can I contribute to a Roth and a SEP or Keogh?
I’m a student who worked in California’s June primary election as a poll worker. Because I received a paycheck for my work, I’m wondering if I can place my earnings into my Roth IRA, even though this was just a one-time job.
Thanks!
My husband and I purchased a Variable Life Insurance annuity policy, and now we’re wondering if it was a smart investment. We are in our late twenties and make very good money. We bought the policy for retirement purposes. We no longer contribute to employer 401k plans are they are not matched by the employer, and we make too much money for a Roth IRA acct. So all the money we are saving for retirement goes into this annuity. There’s a minimum premium is 00 quarterly, but we try to pay 00 quarterly to fund it faster. After 7yrs it will be fully funded and then we can borrow against it at a lowe interest rate (which we don’t plan on doing) or keeping it until we are ready to withdraw from it when we retire. Is this a smart thing to do for us, considering our situation in our current tax bracket? We feel that we ware now in a higher tax bracket than we would be when we retire, so contributing after-tax dollars right now seemed like a good idea. Please help. I think we should have gotten a second opinion before we bought this policy.
I converted my existing traditional IRS into a Roth Ira in 2010 as I don’t qualify for direct Roth contributions.
I have both but don’t really see the point of an IRA. I don’t receive a higher interest rate, both accounts don’t have any fees, and I am limited to what I can put into my Roth IRA but not my savings. What’s the point of having one and not just using a standard savings account to save for retirement?
I have a Roth IRA, which I max out every year including this year. I also have an old 401K with a previous employer. I read that I can’t roll over the 401K into my Roth, but can I roll it over into a new Traditional IRA when I already have an existing Roth IRA?
I’m a 21 year college student. I have a savings account, and debit account. However, I’ve heard that starting a roth ira is good to start young, because of the snowball effect in which money can be accumulated. My question is how do I go about investing in a roth ira fund? Also is there a minimum to put in the fund? I can only currently invest about 0, is that too little?
There seem to tax benefits in 2010 for putting money into a traditional IRA that I can later roll into a roth IRA. So, can I take the 401K that I have with a former employer and roll it into both a 401K with my new employer, and deduct 4,000 of that to put into a traditional IRA? Thanks so much for your help!!
Sorry, to clarify….can I roll over into both of them? Like most of the money into a 401K and some of the money into the traditional IRA?
I didn’t make any 2008 contributions. I now have some money that I have been putting into my Roth IRA. I am being asked what year I want it to reflect. I know that you can make 2008 contributions up until a certain point but what are the pros and cons of doing 2008 deposits in the year 2009?
I heard 401K’s & Roth IRA’s are the only 2 things the government does NOT consider when determining how much money i get for financial aide.
How would i go about getting one? Is there a minimum balance? Do i need to be employed through a company to open one? Is there penalties? Please be as specific as possible. Thanks
I am 20 years old, looking to start an emergency savings
Or a retirement savings, whichever
whats a money market account?