Jul 7, 2005 #1 G geeman Recycles dryer sheets Joined Jun 21, 2005 Messages 97 Is there any point in putting more than $4000 into my IRA account this year?
Jul 7, 2005 #2 maddythebeagle Thinks s/he gets paid by the post Joined Jun 15, 2005 Messages 2,450 I thought the limit was 4000 bucks? at your age?
Jul 7, 2005 #3 OP OP G geeman Recycles dryer sheets Joined Jun 21, 2005 Messages 97 Yeah, but can you put more than $4000 into an IRA?
Jul 7, 2005 #4 cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Joined Dec 17, 2003 Messages 22,708 Location Losing my whump Go to the IRS web site and read the document that entails all the rules and whatfor's
Jul 7, 2005 #5 maddythebeagle Thinks s/he gets paid by the post Joined Jun 15, 2005 Messages 2,450 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.
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.
Jul 7, 2005 #6 E EricMD Guest 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...
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...
Jul 7, 2005 #7 OP OP G geeman Recycles dryer sheets Joined Jun 21, 2005 Messages 97 So how do people roll their 401k's into their IRA's if it is more than $4000?
Jul 7, 2005 #8 maddythebeagle Thinks s/he gets paid by the post Joined Jun 15, 2005 Messages 2,450 I sure would love it. My FIRE PLANNING WOULD GO A LOT FASTER IF I COULD THROW THAT MUCH IN, LOL.
Jul 7, 2005 #9 maddythebeagle Thinks s/he gets paid by the post Joined Jun 15, 2005 Messages 2,450 A rollover is seperate than your 4000 contribution rate.
Jul 7, 2005 #10 OP OP G geeman Recycles dryer sheets Joined Jun 21, 2005 Messages 97 maddythebeagle said: A rollover is seperate than your 4000 contribution rate. Click to expand... Oh, ok
maddythebeagle said: A rollover is seperate than your 4000 contribution rate. Click to expand... Oh, ok
Jul 11, 2005 #11 A azanon Thinks s/he gets paid by the post Joined Jul 10, 2004 Messages 1,505 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... Click to expand... 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.
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... Click to expand... 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.
Jul 11, 2005 #12 wildcat Thinks s/he gets paid by the post Joined Feb 11, 2005 Messages 2,025 Location Lou-evil for under 50 4k is your max period. rollover is entirely different period.
Jul 11, 2005 #13 ronin Thinks s/he gets paid by the post Joined Oct 21, 2003 Messages 1,325 For those 50 and above, this years catch up is an additional $500.
Jul 11, 2005 #14 K KB Thinks s/he gets paid by the post Joined Jun 21, 2004 Messages 1,859 Location No. California For future years, here are the limits: 2006 - 2007 4000 + 1000 catch up 2008 - 2010 5000 + 1000 catch up
For future years, here are the limits: 2006 - 2007 4000 + 1000 catch up 2008 - 2010 5000 + 1000 catch up