A little while ago I opened an account with E-trade, but I’ve been hearing a lot about their potential bankruptcy. As far as I can remember my money are going to be insured since I am only investing $2,450, but I am weary of a company that might start to perform poorly. Does anybody have anything to say about any company that has low fees on their IRAs? Is there any way for me to transfer roth ira to another online brokerage firm?…Thanks a lot!
Hi. Just wanted to see if anybody could explain to me the difference between Roth and Traditional IRAs.Many thanks
With the way the economy currently is did you loose any money from your IRAs ? I’m wondering because I was going to start one, but I don’t want to lose any money!
Me and my wife have been making Roth IRAs contributions for a number of years. In December of last year my wife started to work again and we figured that her income this year will push our joint income above the $160K cutoff for a Roth contribution. Before I came to that conclusion, however, I made a $1000 contribution to my Roth IRA – which I now think I am not eligible to make. My institution says that they cannot cancel the transaction to make it look like no contribution was made. What will be the consequences of this mistake and is there anything I can do to fix it?
I am allowed a $5000 Roth contribution. I want to take $2000 from my traditional IRA and convert it into an existing Roth IRA. Can I put in $5000 PLUS the $2000 conversion, or does the conversion limit my contribution to only 3000 additional dollars this year?
I have Roth IRA CD’s at a bank earning an attractive 5 year rate with a one time no bank penalty withdrawal clause. I opened these accounts in ‘06 & ‘07 by transferring and rolling over Roth IRA accounts from other banks originally opened over 5 years.
My understanding is I will not have to pay tax on withdrawn Roth IRA gains provided the withdrawal is done 5 or more years after opening. My question is, if I withdraw now will my gains be taxable based on the date of the current Roth accounts or not based on the original date of the Roth accounts?
I am using the online form that asks if I made any IRA contributions.What are they talking about? Is it both traditional and ROTH IRAs. Do I need to fill out any other forms to prove that I already paid taxes on the money that got contributed to my ROTH? Thank you very much.
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.
How do taxes work when Canadians who may have worked in the US withdraw money from their 401k or ROTH IRAs at retirement? Someone told me that a 401k can be withdrawn (and taxed in the US), but when the money is taken to Canada it will not be additionally taxed. However, the ROTH IRA would be taxed as new income in Canada. Is this true? If so, this defeats the whole purpose of the tax free growth provided by the ROTH IRA.
I am currently working in the US but am a Canadian Citizen and hence dont really know where i will be come retirement (40 years away) so I am not sure as to where I should invest. I am trying to collect details so I can make an informed decision.
Thanks
Mathew, I know how the taxes work if you remain in the US. I need to find how they work if you plan to take the money to Canada. Of course I dont know how things will work in 40 years, but how do they work now?
What happens if you exceed the income limits of a roth IRA after years of contributing to it? Can you convert it to traditional? how does this work with taxes?
Roth ira, roth ira rules,what is roth,retirement plan roth ira 2010,roth ira qualification,what does a roth ira do,ira for minors,simple roth ira calculator