ROTH IRA Answers

if I convert my IRA to a ROTH can I start withdrawing immediately.?

Roth IRA Answer Gal — Thu, 11 Mar 2010 00:01:41 +0000

I’m retired and over the age 60, and want to schedule a monthly withdrawal

What is the best option with 401k after quitting job?

Roth IRA Answer Gal — Wed, 10 Mar 2010 06:10:52 +0000

I will be quitting my job in a couple of weeks to stay at home with my child. As far as what I have read up on I should put it into an IRA I think. I only started my job 5 years ago so I do not have much at all in it. Should I rollover into a traditional IRA or a Roth IRA or do I even have an option? Also since I will not have an income and we will only have my husband’s we do not plan on contributing anything to the IRA until I go back to work in several years. Do I HAVE to contribute anything to an IRA? Online articles talk about maximums you can contribute but nothing about minimums.

how shall invest my 15k + u.s. dollars (minus 10% penalty..?

Roth IRA Answer Gal — Mon, 08 Mar 2010 06:12:26 +0000

and minus state and fed taxes) from my old job? 1. don’t want to rollover to an ira as i rather take the bullet now from penalties and taxes. 2. thinkintg about doing the maximum on the roth ira for 2007. 3. and have long term investment in mind (3-5 years).
as far as the roth ira part, i would leave it there until retirement; but it’s the rest of the money that’s left over that i am concerned about….

What happens if you withdrawal early from a Roth IRA?

Roth IRA Answer Gal — Mon, 08 Mar 2010 00:08:07 +0000

A traditional IRA or 401k seems easy to understand. If you take out money early, you pay a hefty tax.

But what about a Roth IRA? If I pay taxes at the time of contribution for a Roth IRA, then decide to take out money early, do I get hit wit the same big tax?

In other words, is it worse to withdrawal early from a Traditional or Roth IRA?

Does opening a new Roth IRA, and making contributions for the previous tax year require me to amend my taxes?

Roth IRA Answer Gal — Sat, 06 Mar 2010 19:23:11 +0000

Here is my situation: I have already filed my 2009 taxes. I would like to open a new Roth IRA and make a large contribution under the 2009 tax year. If I do this, would I need to file an amendment to my 2009 taxes?

What do you think of my 401k investments?

Roth IRA Answer Gal — Sat, 06 Mar 2010 06:12:24 +0000

For those investment savy people.
I am doing 5% per paycheck to invest in my 401k starting April.

This is my breakdown. Keep in mind, I am 24, so I am trying to be very agressive.

Templeton Growth(A) 10%
William Blair Intl Growth (N) 5%
Munder Large-Cap Value (Y) 15%
Comerica 500 Stock Index 25%
William Blair Growth(N) 15%
Franklin Rising Dividends(A) 10%
Munder S&P Mid-Cap Index Equity (Y) 5%
Munder Mid-Cap Core Growth (Y) 5%
Neuberger Berman Genesis Trust 5%
Heritage Small Cap Stock(A) 5%

This is 100% stocks. Would you change any percentages around? if so, why?

Also what happens if my company goes under? Do I lose everything? or can i rollover it to a roth ira?

pgcpaul i need a litle help?

Roth IRA Answer Gal — Fri, 05 Mar 2010 00:01:56 +0000

You wrote
Open a Roth IRA.(where and how?)
Put your money into VFINX (S&P 500 Index Fund)(how much?)
Sign up for automatic checking account small withdrawals(how)

Once you have done the above, then you will have plenty of opportunity to figure out what to do next. YOU DO NOT need further research at this time.(explain)

DO IT NOW! The key is to start saving NOW!

P.S. NO one will disagree with this recommendation