Oh, also P-C:
Distributions that you take before you are 59 1/2 years of age are taxable and may be subject to early withdrawal penalties. After age 59 1/2, the withdrawals are tax and penalty free.
Right. Sir. Honey.
Zoe ,'The Train Job'
Spike's Bitches 35: We Got a History
[NAFDA] Spike-centric discussion. Lusty, lewd (only occasionally crude), risque (and frisque), bawdy (Oh, lawdy!), flirty ('cuz we're purty), raunchy talk inside. Caveat lector.
Miracleman - Apr 03, 2007 2:29:50 pm PDT #3581 of 10003
No, I don't think I will - me, quoting Captain Steve Rogers, to all of 2020
Polter-Cow - Apr 03, 2007 2:34:26 pm PDT #3582 of 10003
What else besides ramen can you scoop? YOU CAN SCOOP THIS WORLD FROM DARKNESS!
Thanks, MM! So it...does sound like a good idea. I think the catch is that, say, if I need to take out money, it's out. I can't replace it later and add the maximum contribution on top of that. But that's not really a catch so much because, again, it would have made more money for me in its time than it would have sitting in a savings account.
Pix - Apr 03, 2007 2:35:16 pm PDT #3583 of 10003
The status is NOT quo.
I ate. Just so everyone stops worrying. Smooches!
Topic!Cindy - Apr 03, 2007 2:37:05 pm PDT #3584 of 10003
What is even happening?
MM, is there a limit on what you can make if you're setting up a Roth?
Polter-Cow - Apr 03, 2007 2:40:50 pm PDT #3585 of 10003
What else besides ramen can you scoop? YOU CAN SCOOP THIS WORLD FROM DARKNESS!
Yes. The maximum contribution goes down incrementally once you hit $95,000 and goes away entirely once you hit $110,000 (it's a little bigger when you're married and file jointly).
juliana - Apr 03, 2007 2:45:18 pm PDT #3586 of 10003
I’d be lying if I didn’t say that I miss them all tonight…
(Going out with juliana always gives me wardrobe insecurity.)
No! That's not supposed to happen! I'm sorry! (I have a skirt for you, by the way. Not with me, but something you might like.)
vw bug - Apr 03, 2007 2:53:31 pm PDT #3587 of 10003
Mostly lurking...
juliana, Emily's going to be late, and it's all my fault :).
Miracleman - Apr 03, 2007 2:56:01 pm PDT #3588 of 10003
No, I don't think I will - me, quoting Captain Steve Rogers, to all of 2020
What P-C said.
javachik - Apr 03, 2007 3:04:53 pm PDT #3589 of 10003
Our wings are not tired.
So wait, if one makes over 110K, one can't have a Roth IRA??!
Okay, I looked it up. Partial contributions to 114k ok.
I hate money stuff.
Polter-Cow - Apr 03, 2007 3:13:04 pm PDT #3590 of 10003
What else besides ramen can you scoop? YOU CAN SCOOP THIS WORLD FROM DARKNESS!
One can't start one. You can't contribute to it anymore, but you can let your money sit there and turn itself into more money.