http://thebillfold.com/2012/03/what-you-need-to-know-about-traditional-and-roth-iras/ Everything About Money You Were Too Polite To Ask Sat, 25 May 2013 12:19:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://thebillfold.com/2012/03/what-you-need-to-know-about-traditional-and-roth-iras/#comment-7746 Ruby Fri, 22 Jun 2012 20:10:52 +0000 http://thebillfold.com/?p=25#comment-7746 Mike Dang: What do you think about starting an IRA through a local bank or credit union? Mike Dang: What do you think about starting an IRA through a local bank or credit union?

]]> http://thebillfold.com/2012/03/what-you-need-to-know-about-traditional-and-roth-iras/#comment-101 one cow. Wed, 04 Apr 2012 22:37:35 +0000 http://thebillfold.com/?p=25#comment-101 This is super relevant to me! I am leaving my job & may end up needing some of the cash I have in my meager retirement fund while I adjust to my new job situation. If I roll over my 401(k) into a Roth IRA, I'd be able to withdraw some $$ if I needed it, right? Without having to take the huge 30% hit if I just cashed out my 401(k)? This is super relevant to me! I am leaving my job & may end up needing some of the cash I have in my meager retirement fund while I adjust to my new job situation. If I roll over my 401(k) into a Roth IRA, I’d be able to withdraw some $$ if I needed it, right? Without having to take the huge 30% hit if I just cashed out my 401(k)?

]]> http://thebillfold.com/2012/03/what-you-need-to-know-about-traditional-and-roth-iras/#comment-77 Mike Dang Wed, 04 Apr 2012 20:27:58 +0000 http://thebillfold.com/?p=25#comment-77 @jenfizz An IRA is for individuals (hence: "Individual Retirement Account"). So you're doing it as an individual. But if you file joint taxes, note that the <a href="http://www.irs.gov/retirement/article/0,,id=111413,00.html">IRS prohibits you from contributing to a Roth</a> if your modified adjusted gross income is more than $173,000 for 2012. @jenfizz An IRA is for individuals (hence: “Individual Retirement Account”). So you’re doing it as an individual. But if you file joint taxes, note that the IRS prohibits you from contributing to a Roth if your modified adjusted gross income is more than $173,000 for 2012.

]]> http://thebillfold.com/2012/03/what-you-need-to-know-about-traditional-and-roth-iras/#comment-73 jenfizz Wed, 04 Apr 2012 20:05:42 +0000 http://thebillfold.com/?p=25#comment-73 A question though: If you're married should you start an IRA together or as individuals? A question though: If you’re married should you start an IRA together or as individuals?

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