Q: I am retiring and want to roll over my deferred account to an IRA. Which is the best IRA account? And how old do I have to be to withdraw without getting penalized? And what will the tax rate ...
Q: My husband and I each took $10,000 early IRA distributions to help pay for a construction loan on a new house. The amount is exempt from the 10% penalty but I do not understand, when it comes to taxes, ...
Amid the tough economy, lots of people tapped into their 401(k) retirement plans or Individual Retirement Accounts (IRAs) as a way to get cash to pay the bills. That money probably gave you a short-term cushion, but it also has ...
Q: I am 26 and behind in the investing game. My bank offers a Roth IRA and i'm going with that. I was thinking about going with Edward Jones for a 401(k). Is this a good idea? A: Congratulations on getting ...
You are correct in your assumptions. Yes, you can open two IRAs (one for 2009 and one for 2010), and safely convert them into a Roth this year because of the removal of the income limits on Roth conversions. I ...
Q: Should I roll over $30,000 in my traditional IRA account into a ROTH IRA? I am 50 years old. A: Although the earnings in both types of retirement accounts grow tax-deferred, for longer-term financial planning, I like the benefits of the ...
