Roth IRA

geeman · 07-07-2005, 09:21 AM

Is there any point in putting more than $4000 into my IRA account this year?

maddythebeagle · 07-07-2005, 09:56 AM

I thought the limit was 4000 bucks? at your age?

geeman · 07-07-2005, 10:00 AM

Yeah, but can you put more than $4000 into an IRA?

cute fuzzy bunny · 07-07-2005, 10:10 AM

Go to the IRS web site and read the document that entails all the rules and whatfor's

maddythebeagle · 07-07-2005, 10:17 AM

If you find out how, let us know. If you are age 50, you can contribute a little more (I think 4500 for 2005). Otherwise it is 4000 that you can contribute.

I think if you have a spouse working at home, you can do a little more there too.

07-07-2005, 12:21 PM

don't think so. $4k/year that;s it. otherwise, rich people will be even richer....

suppose i can put $100k/year tax free. life is good...

geeman · 07-07-2005, 12:28 PM

So how do people roll their 401k's into their IRA's if it is more than $4000?

maddythebeagle · 07-07-2005, 12:30 PM

I sure would love it. My FIRE PLANNING WOULD GO A LOT FASTER IF I COULD THROW THAT MUCH IN, LOL.

maddythebeagle · 07-07-2005, 12:31 PM

A rollover is seperate than your 4000 contribution rate.

geeman · 07-07-2005, 12:32 PM

Quote:

Originally Posted by maddythebeagle

A rollover is seperate than your 4000 contribution rate.

Oh, ok

azanon · 07-11-2005, 12:21 AM

Quote:

don't think so. $4k/year that;s it. otherwise, rich people will be even richer....

suppose i can put $100k/year tax free. life is good...

Maddy was right, actually.* By all means, get richer.* Its called catch up contributions, and you can do that past 50 years old.

I dont recall the actual amount as to how much more. I dont really care at age 33.

wildcat · 07-11-2005, 08:08 AM

for under 50 4k is your max period. rollover is entirely different period.

ronin · 07-11-2005, 03:39 PM

For those 50 and above, this years catch up is an additional $500.

KB · 07-11-2005, 04:48 PM

For future years, here are the limits:

2006 - 2007 4000 + 1000 catch up
2008 - 2010 5000 + 1000 catch up

07-07-2005, 09:21 AM	#1
geeman Recycles dryer sheets Join Date: Jun 2005 Posts: 97	Roth IRA Is there any point in putting more than $4000 into my IRA account this year?

07-07-2005, 09:56 AM	#2
maddythebeagle Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,440	Re: Roth IRA I thought the limit was 4000 bucks? at your age? __________________ - Hurry! to the cliffs of insanity!

07-07-2005, 10:00 AM	#3
geeman Recycles dryer sheets Join Date: Jun 2005 Posts: 97	Re: Roth IRA Yeah, but can you put more than $4000 into an IRA?

07-07-2005, 10:10 AM	#4
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Losing my whump Posts: 22,527	Re: Roth IRA Go to the IRS web site and read the document that entails all the rules and whatfor's __________________ Many an optimist has become rich by buying out a pessimist

07-07-2005, 10:17 AM	#5
maddythebeagle Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,440	Re: Roth IRA If you find out how, let us know. If you are age 50, you can contribute a little more (I think 4500 for 2005). Otherwise it is 4000 that you can contribute. I think if you have a spouse working at home, you can do a little more there too. __________________ - Hurry! to the cliffs of insanity!

07-07-2005, 12:21 PM	#6
EricMD Guest Posts: n/a	Re: Roth IRA don't think so. $4k/year that;s it. otherwise, rich people will be even richer.... suppose i can put $100k/year tax free. life is good...

07-07-2005, 12:28 PM	#7
geeman Recycles dryer sheets Join Date: Jun 2005 Posts: 97	Re: Roth IRA So how do people roll their 401k's into their IRA's if it is more than $4000?

07-07-2005, 12:30 PM	#8
maddythebeagle Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,440	Re: Roth IRA I sure would love it. My FIRE PLANNING WOULD GO A LOT FASTER IF I COULD THROW THAT MUCH IN, LOL. __________________ - Hurry! to the cliffs of insanity!

07-07-2005, 12:31 PM	#9
maddythebeagle Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,440	Re: Roth IRA A rollover is seperate than your 4000 contribution rate. __________________ - Hurry! to the cliffs of insanity!

07-11-2005, 08:08 AM	#12
wildcat Thinks s/he gets paid by the post Join Date: Feb 2005 Posts: 1,896	Re: Roth IRA for under 50 4k is your max period. rollover is entirely different period. __________________ "These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"

07-11-2005, 03:39 PM	#13
ronin Recycles dryer sheets Join Date: Oct 2003 Posts: 442	Re: Roth IRA For those 50 and above, this years catch up is an additional $500. __________________ a surfer who hasn't wised up to the importance of hard shoes....

07-11-2005, 04:48 PM	#14
KB Full time employment: Posting here. Join Date: Jun 2004 Posts: 988	Re: Roth IRA For future years, here are the limits: 2006 - 2007 4000 + 1000 catch up 2008 - 2010 5000 + 1000 catch up

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