Comments on: Roth IRA Basics (Updated for 2011 & 2012)

By: Scott @ RothIRA.org

Scott @ RothIRA.org — Fri, 27 Jan 2012 19:32:51 +0000

It’s great so many people are participating in their own retirement plan. More and more companies are forgoing retirement benefits and pension plans while putting more responsibility on the individual for saving their own money. Who knows if this trend will continue or it’ll change once the economy pick back up. It’ll be interesting to see?

By: Joseph gibson

Joseph gibson — Fri, 04 Mar 2011 05:19:21 +0000

so if im married and we make 85,000 together married i cant contribute?

By: G.E. Miller

G.E. Miller — Mon, 21 Feb 2011 16:22:44 +0000

No, as long as you don’t withdraw the money early.

By: Ann

Ann — Sun, 20 Feb 2011 19:14:07 +0000

if a stock in a roth ira makes a profit and is sold. does one pay taxes on the profit Thankyou.

By: Natalie

Natalie — Tue, 01 Feb 2011 03:51:11 +0000

I’d check with your account administrator, but from what I understand, yes. Roth contributions that are withdrawn before the end of the year count as if you didn’t contribute for tax purposes. You can then decide on another investment vehicle.

By: Natalie

Natalie — Tue, 01 Feb 2011 03:45:48 +0000

Oops, I missed that you had a ROTH. I assume you are concerned about yearly limits then? Yes you can, but you have to let your bank know that you want it to count as last years contribution at the time of deposit. They will make the accounting notation.

By: Natalie

Natalie — Tue, 01 Feb 2011 03:41:42 +0000

Yes you can. Do your taxes and put the amount you plan to contribute, but just make sure you get it deposited by Apr 15 or you’ll need to amend.

By: BobM

BobM — Sun, 30 Jan 2011 16:41:51 +0000

If I file my 2010 taxes on Feb 15 2011, can I can still make contributions towards my 2010 Roth until April 15 2011?

By: Ryan

Ryan — Tue, 25 Jan 2011 18:59:23 +0000

I think a lot of people don’t realize the benefits of the Roth IRA in terms of tax free growth. I’ve seen several of my friends invest in retirement funds without using the Roth IRA vehicle simply because they didn’t know it exists.

By: Joe

Joe — Tue, 25 Jan 2011 17:50:35 +0000

Are there any other Times Earnings are Tax and Penalty Free?
Yes, in the event of death, disability, or first time home purchase……..ISN’T IT THE CASE YOU CAN PULL MONEY OUT TAX AND PENALTY FREE FOR COLLEGE EDUCATION EXPENSES????? BIG MISS.