Asked by an anonymous user
Answered by Lars Larsen ChFC®
Financial Planner in Burlingame, CA
First, let me congratulate you on asking this question in your early 20s. The earlier in life you start investing the better. The compounded rate of return over a long...
Asked by Joel
Answered by Stephen Hartel
MBA, AIF in Denver, CO
Joel, Yes, the IRS allows you to take the RMD from whichever account(s) you wish, as long as the total is correct. Best regards, Steve
Asked by Derrell
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Derrell IRS rules prohibit putting your RMD into another tax-advantaged retirement account. Have you considered converting the remaining portion of your traditiona...
Asked by an anonymous user
Answered by Alex Bentley PRO+
Financial Adviser in Pacific Palisades, CA
This country has made a revolutionary shift from pensions to a self-service retirement model (401Ks, IRAs, etc). The average baby boomer has not yet fully adjusted to...
Asked by victor piediscalzo
Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement account would likely be best in your situation in lieu of bank savings. If you have acces...
Asked by Katie
Answered by Michael Hoffman PRO+
RFC, CLU, ChFC in Grass Valley, CA
Katie, Conversion from a traditional IRA to a Roth IRA is beneficial when the amount you are converting allows you to stay in the same tax bracket and you have time...
Asked by John
Answered by Winnie Sun PRO+
Financial Adviser in Irvine, CA
I like rolling old 401(k)'s into one IRA, because it's easier to manage and keep track of. There are other reasons you may, may not want to do this, and it's best to b...
Asked by Kathleen
Answered by Kim Miller PRO+
CFP® in Redmond, WA
The simple answer is yes, you do. You need to take maximum advantage of all of your retirement savings opportunities: 401(k) (pre- and post-tax) and IRAs (preferably ...
Asked by Kathleen
Answered by Dan Crimmins
Financial Adviser in Woodcliff Lake, NJ
Kathleen - It is great that you are saving for your retirement. The difference between a Roth IRA and a traditional IRA is when the tax is due. When you contributed...
Asked by Michael
Answered by Linda A. Stortz
CPA, EA in Largo, FL
You must be asking if you can "make" an IRA contribution, rather than "take" an IRA contribution. No, either one of you must have earned compensation from wages, salar...
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