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Roth IRA
Old 07-07-2005, 09:21 AM   #1
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Roth IRA

Is there any point in putting more than $4000 into my IRA account this year?
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Re: Roth IRA
Old 07-07-2005, 09:56 AM   #2
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Re: Roth IRA

I thought the limit was 4000 bucks? at your age?
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Re: Roth IRA
Old 07-07-2005, 10:00 AM   #3
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Re: Roth IRA

Yeah, but can you put more than $4000 into an IRA?
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Re: Roth IRA
Old 07-07-2005, 10:10 AM   #4
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Re: Roth IRA

Go to the IRS web site and read the document that entails all the rules and whatfor's
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Re: Roth IRA
Old 07-07-2005, 10:17 AM   #5
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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.
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Re: Roth IRA
Old 07-07-2005, 12:21 PM   #6
 
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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...
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Re: Roth IRA
Old 07-07-2005, 12:28 PM   #7
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Re: Roth IRA

So how do people roll their 401k's into their IRA's if it is more than $4000?
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Re: Roth IRA
Old 07-07-2005, 12:30 PM   #8
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Re: Roth IRA

I sure would love it. My FIRE PLANNING WOULD GO A LOT FASTER IF I COULD THROW THAT MUCH IN, LOL.
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Re: Roth IRA
Old 07-07-2005, 12:31 PM   #9
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Re: Roth IRA

A rollover is seperate than your 4000 contribution rate.
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Re: Roth IRA
Old 07-07-2005, 12:32 PM   #10
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Re: Roth IRA

Quote:
Originally Posted by maddythebeagle
A rollover is seperate than your 4000 contribution rate.
Oh, ok
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Re: Roth IRA
Old 07-11-2005, 12:21 AM   #11
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Re: Roth IRA

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.
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Re: Roth IRA
Old 07-11-2005, 08:08 AM   #12
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Re: Roth IRA

for under 50 4k is your max period. rollover is entirely different period.
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Re: Roth IRA
Old 07-11-2005, 03:39 PM   #13
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Re: Roth IRA

For those 50 and above, this years catch up is an additional $500.
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Re: Roth IRA
Old 07-11-2005, 04:48 PM   #14
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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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