Right now we each have 50 bucks a month put in to the Growth fund of america and the Capital World Growth and Income Fund…. wise allocation? or should we be doing something else

Hello. The above says it all. My wife and I are both over 50, and we file married/filing jointly. If we both put $5000 in our IRAs, do we get a $10,000 deduction, or do we max out at $5000?

thanks a bunch…

RVS

I have a fulltime job, and also am an independent contractor. I usually contribute 4k annual to my traditional IRA to get the tax write-off. I heard there are some limitations if you make more than a 100k annual.

I quit my job and had 401K and now I need to figure out how not to lose my money but do not know anything about investing/retirement plans.

Or can the trust combine them and either A) accept the distribution and pay the tax, or B) split them equally between 12 beneficiaries?

i only have 1K, wanna put it away in a roth IRA, since im very young now.

for vanguard and fidelity you need 3000 and 2500 to start an account….are there any known ROTH IRAs (with low broker fees like vanguard and fideltiy) with a low initial investment (talkin 500-1000)

Hello. I have read IRA distribution rules over and over and understand the many examples clearly, but none applies to MY situation.

I have had a Roth IRA since 1999, when I converted to it. Since then I have made the maximum after tax contributions allowable (into an aggressive stock fund), and my balance is now around $90K. I am considering withdrawing all of my contributions because I fear being wiped out by the economy, and I cannot sit back and watch that happen. I cannot move the money to a “safe” harbor because all the safe funds (such as money market) at Vanguard are closed to new investors. What would the penalty be if I pull my contributions, if there is one? Must I wait five years from the year of each contribution to withdraw penalty free (in other words, can I withdraw only my contributions through 2004) or am I free from withdrawal restrictions on my entire after tax contributions? Please clarify.

 

Or should I be putting more away? I’m currently 23 yrs. old and I’ve already put away 2,600 since I opened the account when I was 21 yrs. old.

so now my husband would like to withdraw all the funds, we will have our first child due in November and he said it would help with expenses and he thinks the IRA value will go down even more, we are 28 and 34 years old. What are the consequences of withdrawing the funds early. I know there be will be taxes, but how much should we expect to take home. 20,000 is the total original amount we put in.

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