Roth IRA eligibility

Prior to 2010, individuals were permitted to convert a traditional IRA to a Roth IRA under the tax law for Roth IRA conversion.  There were only two stipulations that governs the conversion: (1) you have to pay taxes on the converted money and (2) you must be within the income limit which determined your eligibility [...]

The contribution limit for IRA did not change for 2010. Like 2009, the maximum you may contribute to your Traditional and Roth IRAs combined is $5,000. If you are 50 years and older, your contribution limit is $6,000 (due to $1,000 catch-up contribution allowance). Note this is a per individual limit and as a married [...]

“When should I take Social Security?” is the first question everyone faces when contemplating retirement. More than 50% of all men and women start taking benefits at 62. By age 66, well over 90% of all men and women are taking benefits according to the Center for Retirement Research at Boston College.

The Break Even Approach
The [...]

Before January 2009 is over, I just want to go over some of the contribution limits for retirement plans.  In particular, the ones that most people interested in are 401k and individual retirement account (IRA).  This year, there’s no change to IRA contribution limit, but 401(k) contribution limit increased from $15,500 to $16,500.
IRA Contribution Limits [...]