Question by HEWLETT: Can I rollover my roth ira to a different company but also roth ira?
My agent wants me to roll my Roth IRA to another company (company1)that has better interest rates. Can I roll my roth ira to another company (company2) without penalties?

Best answer:

Answer by Kaptain Krakatoa
Yes, you can do that. Make sure that you’re investing in diversified, no-load mutual funds with expense ratios less than 1%.

What do you think? Answer below!

Can I have an IRA and also a 401K plan at the sametime?

I am planning on getting a Traditional IRA plan so I can put away $4000 tax free for this year. However, my company may possibly introduce a 401K plan soon.

If I invest $4000 in an IRA account this year, and if my company introduces a 401K plan a little later this year, am I allowed to contribute to both IRA & 401K plans in the same year?

FYI, my filing status is married filing jointly and my wife has a 401K plan at her work place.

Would appreciate any guidance here. Thanks.

Is there a maximum contribution amount for employer-sponsored 401K plans? Does your total combined IRA contribution for ’08 (that’s Roth IRA plus 401K) have to be $5,000 or less?

My agent wants me to roll my Roth IRA to another company (company1)that has better interest rates. Can I roll my roth ira to another company (company2) without penalties?

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