Topic profile page for Roth IRA.
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Topic "Roth ira" was discussed 13,177 times on 448 sites in last 3 months
Started 3 days, 3 hours ago (2009-12-07 21:04:00)
by trickywooo (trickywooo)
In 2007, I went to my credit union and opened a traditional IRA and before leaving the bank I read that I would be ineligible for the tax deduction (for that same year). I tried to void it then & there but I was told it was too late and to get advice on what to do next. I went back 2 months later and converted that IRA to a ROTH IRA and this is where the money has been ever since. It...
Started 3 days, 7 hours ago (2009-12-07 16:23:00)
by frayed
conversions. So now, people who couldn't open Roth's can do so by funding a regular IRA then converting it. Any reason not to do this? I can now put away 5k/year of post-tax money into a Roth (indirectly), let it grow tax free, and withdraw it tax free on retirement.
Started 3 days, 8 hours ago (2009-12-07 15:31:00)
by MagneticNorth
Having recently joined the MDP 2010, I have allocated $40k of my Roth IRA and acquired the suggested % of Hasbro and Markel I am still pending decision on TLK and HDK. My ROTH sits at Edward Jones and requires a phone call to make a trade. Not the most convenient in the event I want to make a sale and can't get through....! Two questions 1) Since my gains have no tax consequences is there ...
Started 3 days, 12 hours ago (2009-12-07 11:30:00)
by bap902
1. The problem statement, all variables and given/known data Carlos is 60 years old, is in the 32% marginal tax bracket, and has $544,000 in his Roth IRA. How much money will he have after taxes if he withdraws all the money from the account? 2. Relevant equations (1-tax bracket)x(amount)=earnings after income tax 3. The attempt at a solution...
Started 4 days, 12 hours ago (2009-12-06 11:58:00)
by oldiebutgoodie34
Those on Social Security who have a traditional IRA may be able to convert some of it to Roth and avoid taxes altogether. This is because Social Security is not directly taxed but only insofar as it adds to other income. In the meantime, you have acquired deductions that cannot be used because you do not have taxable income unless you can convert traditional IRA to Roth. I was in this happy ...
Started 5 days, 7 hours ago (2009-12-05 16:21:00)
by rdw522
I'm one of the hangers-on, rather than one of your members who are really into the research, so I'm embarrassed to ask as I suspect I'm supposed to know this. I have a stock portfolio account (Thank you Fools!!). I do not have an IRA, and I want to know if I can or should designate my account as a Roth IRA? I'm planning to invest in a mutual fund in a couple of weeks. Would it be better to ...
Started 1 week ago (2009-12-03 00:33:00)
by Terrible2
So from my understanding, Roth IRA is simply a retirement account where you put in money and your employer puts some money into it also to match your numbers or give you a certain percent. Also Roth IRA is taxed before putting it into Roth IRA while standard IRA is taxed when you take out the money when someone is nearing retirement. I know this isnt EVERYTHING about Roth IRA's but I think this...
Started 1 week, 1 day ago (2009-12-02 21:28:00)
by vivienne
I was recently terminated from my employer, and am moving my pension and 401k funds into a traditional IRA. IF I later want to move these funds into a Roth IRA, I realize that I will have to pay ordinary income tax on the conversion from a traditional IRA to a Roth IRA. However, my question is this: after I have converted to a Roth IRA (and paid the taxes), are ...
Started 5 days, 14 hours ago (2009-12-05 09:24:00)
by bb21992
Isn't there a going to be a law in 2010 that changes your taxes or being able to spread them out if you convert your traditional IRA to a Roth? Anybody have a good reference for this? Thank you.
Started 6 days, 15 hours ago (2009-12-04 08:14:00)
by willebanks
Greetings All, This may be redundant due to the last post but I need confirmation on the repercussion of withdrawing some of my money from my Roth IRA early. I tried to withdraw some funds from the account last week and I got a BIG warning about early withdrawal penalties and taxation. I was under the impression that one of the benefits of a Roth IRA was the ...
Started 1 day, 6 hours ago (2009-12-09 17:56:00)
by WoodvilleDale
I followed the advice to convert my IRA over to Roth resolved to pay the tax for the extra income those two years and be done with it. What I didn't expect was a surcharge on the cost of my Medicare part B drug coverage of about $40/month! The letter from SS specifically mentioned this case which uses your AGI (including the "distribution") and then adds things like tax-exempt income ...
