Okay. If I can only put 5000 into a traditional IRA a year. what if i want to invest more than 5000 dollars into the same fund. can i not just invest more than the 5000 and get no tax break for the additional funds? or do i really need to buy a separate identical mutual fund?

What is the interest rate for a Roth IRA? I realize who can contribute and what the limit is, but how do you make money with one? Does the bank that you go through help you invest, or are you completely on your own?

My wife and I have Roth IRA’s. We’re close to the income limits. I would like to setup a monthly contribution rate, but I don’t know if I will over contribute because of year end bonuses.

Should I contribute once, at the end of each year (I know I’ll miss out on the interest)?

I also read about being able to contribute some into a roth and some into a traditional IRA. If anyone can clear this up it would be helpful.

Either way, what would happen if I over contribute?

Thank you.

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