Q&A
Asked by an anonymous user
Answered by Lars Larsen ChFC®
Financial Planner in Burlingame, CA
Financial Planner in Burlingame, CA
First, let me congratulate you on asking this
question in your early 20s. The earlier in
life you start investing the better. The
compounded rate of return over a long...
Q&A
Asked by Joel
Answered by Stephen Hartel
MBA, AIF in Denver, CO
MBA, AIF in Denver, CO
Joel,
Yes, the IRS allows you to take the
RMD from whichever account(s) you wish, as
long as the total is correct.
Best
regards,
Steve
Q&A
Asked by Derrell
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Derrell
IRS rules prohibit putting your
RMD into another tax-advantaged retirement
account. Have you considered converting the
remaining portion of your traditiona...
Q&A
Asked by an anonymous user
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Upvote 15
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This country has made a revolutionary shift
from pensions to a self-service retirement
model (401Ks, IRAs, etc). The average baby
boomer has not yet fully adjusted to...
Q&A
Asked by victor piediscalzo
Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA
CFP®, ChFC® in Harrisburg, PA
Victor,
Thanks for your question. Some
type of a tax-deferred retirement account
would likely be best in your situation in lieu
of bank savings. If you have acces...
Q&A
Asked by Katie
Katie,
Conversion from a traditional IRA to
a Roth IRA is beneficial when the amount you
are converting allows you to stay in the same
tax bracket and you have time...
Q&A
Asked by John
I like rolling old 401(k)'s into one IRA,
because it's easier to manage and keep track
of. There are other reasons you may, may not
want to do this, and it's best to b...
Q&A
Asked by Kathleen
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Upvote 23
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The simple answer is yes, you do. You need to
take maximum advantage of all of your
retirement savings opportunities: 401(k) (pre-
and post-tax) and IRAs (preferably ...
Q&A
Asked by Kathleen
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Upvote 36
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Answered by Dan Crimmins
Financial Adviser in Woodcliff Lake, NJ
Financial Adviser in Woodcliff Lake, NJ
Kathleen - It is great that you are saving for
your retirement. The difference between a
Roth IRA and a traditional IRA is when the tax
is due. When you contributed...
Q&A
Asked by Michael
Answered by Linda A. Stortz
CPA, EA in Largo, FL
CPA, EA in Largo, FL
You must be asking if you can "make" an IRA
contribution, rather than "take" an IRA
contribution. No, either one of you must have
earned compensation from wages, salar...
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