Jan 16

Question:

I have a nightmare situation.
I bought $4,000 of calls inside my Roth IRA.  The day it was expired, it was way out of the money.  Unfortunately for me, it closed in the money by 12 cents the last 10 minutes of trading.  I tried to close the position, but wasn’t able to do so before the market closed.  The following day, I owned the underlying security, and it moved almost 6 points on me.  The bottom line is I lost over $45,000.  I need to pay this to the broker-dealer, even though my entire account was only worth $8,000.  SO….I need to pay this amount.  Can I write if off at least?  I’m not sure this is possible because it’s in a Roth IRA.  Help please.


Jan 16

Question:

Back in 2007 or 2008 I set up a roth IRA.  i was living with my grandparents at the time, and as embarrassing as this is I have no idea how to find my roth IRA and what’s going on with my money.  Any help or guidance would be greatly appreciated.


Dec 16

I am 58 years old and have some money in a savings account. I am considering opening a Roth IRA for myself and my husband with the maximum contribution. I also am contributing to a 401K through my employment (NOT employer matched). Can I contribute to my 401K at work and also contribute to a Roth IRA?


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