Comments on: Roth IRA Basics (Updated for 2012)

By: TVZ

TVZ — Thu, 03 May 2012 13:37:58 +0000

Oops, sorry, GE. I meant to address this to you!

By: TVZ

TVZ — Thu, 03 May 2012 13:33:46 +0000

Thanks Robby.

I’m basically retired, but my wife & I both earn part-time income. We will earn about $15,000 this year.
-Does that mean we can each contribute the max $5000 to our IRA’s?
-And since we didn’t contribute last year, can we each contribute $1000 as catch-up contributions?
-Then we can leave it there to earn tax-free dividends, etc., as long as we want?
-Any reason not to do this?

Again, thanks very much for this helpful website.

-TVZ

By: Robby

Robby — Tue, 17 Apr 2012 00:30:49 +0000

Just want to make sure of a few things before meeting with HR before the new job. Annual salary projected to be 43,000. I’d like to make maximum contributions to: 1) Trad 401k through the company, and 2) Roth IRA already opened, but hungry for input. Is it correct to say 17,000 to the former and 5000 to the latter as maximums for the year? Or is there a maximum *percentage* I can make per year based on salary/income? Could always go with after tax contributions to some index funds or some such arrangement if there ARE percentage limits right? Anyone in-the-know on this matter? Thank you!!!

By: John

John — Fri, 30 Mar 2012 16:57:54 +0000

Thank you for the very informative article on Roth IRAs. The income limits were especially helpful, as I know people who are making way too much money to invest in a Roth. Gives me something to warn them about!

Thanks!

By: Robert

Robert — Sat, 17 Mar 2012 17:16:40 +0000

Best suggestion for $25,000 a year income in this acconomy.

By: Ron Ablang

Ron Ablang — Sat, 17 Mar 2012 17:05:06 +0000

It’s a good thing this article was updated since the numbers can change every year.

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.