## Remedial Maths for IRA Calculation

How do you mathematically calculate the value of an IRA -- sub question, how often does interest on an IRA accrue?
posted by alan on Jan 9, 2017 - 7 answers

## How to begin contributing to an IRA with foreign earned income?

I am a US citizen living abroad the last few years and plan on returning home eventually. I have taken advantage of the Foreign Earned Income Exclusion each year I filed my taxes. Since I haven't been able to contribute excluded income to my IRA, I was wondering if there's a way for me to do so upon my return.
posted by AngryTypingGuy on Jul 14, 2016 - 4 answers

## 403(b) rollover - to traditional or Roth IRA?

I have about \$8K languishing in a 403(b) (similar to a 401(k) but for nonprofits). My current company doesn't have a 401(k). I just opened a Roth IRA, and I was going to rollover the 403(b) to the Roth, but then I realized I'll have to pay taxes on it, so now I'm not sure. Should I open a Traditional IRA in addition to the Roth, and rollover into that instead?

## US tax Roth IRA ladder conversion/recharacterization questions

I'm looking into using a "Roth conversion ladder" to periodically convert some of my money from a traditional IRA to a Roth IRA, which I can then withdraw five years later in a tax-advantaged manner, despite being younger than the typical age to withdraw funds from IRAs. I have several questions about this.
posted by Sock McPuppet, Jr. on May 28, 2016 - 10 answers

## The Case of the Missing 401(k) Contribution

The lovely Ms. Quizicalcoatl recently changed jobs and rolled over her 401(k) into an IRA with a different firm. Awesome! Then, she got a final vacation payout check from her former employer...but her pre-tax contribution was withheld from that payout. The money never showed up in her 401(k). Where did that money go and how do we get it back?
posted by Quizicalcoatl on Apr 27, 2016 - 7 answers

## Saving to buy a house strategies

Soon we will be completely out of debt and are considering buying a place in the mid-distant future. What is the best strategy investment and tax-wise to save up for a down payment? Any tips or tricks? Low hanging fruit?
posted by srboisvert on Mar 3, 2016 - 9 answers

## Can you help me sort out this complicated 401(k) rollover situation?

I have an undeposited 401(k) rollover check from when I changed jobs a year ago. I've since changed jobs again, and now I need to use a portion of that money for a down payment on a house. Is rolling it over to an IRA the right move?
posted by cabingirl on Feb 17, 2016 - 7 answers

## five years of taxes to do?

I am one of the thousands of Americans who live overseas and because of ludicrously low incomes have never gotten it together to file taxes in the USA. Zero of my USA friends here are filing taxes in America. I suddenly co-own a business but their accountant does not do expat taxes. How to go about this smoothly would be a delight. I am currently being quoted £500 for each tax year preparation.
posted by anonymous on Feb 7, 2016 - 17 answers

## How do taxes work on a Roth conversion that was recharacterized?

If I prepaid taxes on a Roth conversion then recharacterized back to a traditional IRA, how do the taxes I paid work?
posted by lpcxa0 on Jan 29, 2016 - 2 answers

## Grow, little IRA

This seems like a dumb question but it's earnest. I have an IRA in PNC Bank with about \$4,000 in it. It never shows any interest income. It's been the same for years. Not even the tiny amounts of interest my regular savings account gets. This seems wrong, doesn't it?
posted by bleep on Jan 23, 2016 - 8 answers

## Things Might Be Looking Up. Is this Deductible?

For reasons I won't get into, I stopped making my house payment in May, 2013. I never resumed. In June, 2015, I was finally able to sell my home, as the market had suddenly improved, and rapidly. This was a month ahead of the foreclosure auction. I don't know why the lender took so long, because I wasn't working with them at all.
posted by flowergate on Sep 7, 2015 - 5 answers

## Timing for an IRA Distribution for First Time Homebuyer Purchase

"Consult your tax advisor about your particular situation. " Hmpf. As if everyone has a tax advisor at their fingertips. So... I thought MeFi would be just as helpful. :-) After lots of thought, we would like to take an early distribution from an IRA for the downpayment on a house. Anyone here on MeFi have any experience with or specific knowledge of this type of distribution? Not looking for advice on whether we should or shouldn't do this; we have a pretty good nest-egg and believe this distribution is for the right reason, at the right time.
posted by funfunfun on Aug 1, 2015 - 5 answers

## Millenial student loan debt, amirite?

Best strategy for paying down student loan debt for my *snowflake* situation. I don't want to bankrupt my future, but I also am not looking for taking risks like getting my hopes set on loan forgiveness. Specific details inside.
posted by Zeratul on Jun 28, 2015 - 11 answers

## Opening an IRA for my husband

I'd like to open a spousal Roth IRA for my husband, but I'm unsure of the basics. Please help!
posted by skycrashesdown on Mar 19, 2015 - 7 answers

## New job, new budget, yay!/halp?

I'm about to make more money than I ever have before. Help me figuring out saving and investing.
posted by sockity sock on Feb 14, 2015 - 8 answers

## Best SEP IRA strategy for my family?

I am looking for quick, non-professional advice or ideas about my annual SEP IRA contribution. Details below, but the upshot is that I'm already committed to the vehicle (SEP IRA), the vendor (Vanguard) and the amount (max).
posted by Ignatius J. Reilly on Jan 5, 2015 - 9 answers

## Advice for cashing out an IRA

I have about \$3,000 dollars in an IRA from before I went back to school and was working full time. Half of that is money I had contributed, and half is from my former employer. Due to a teaching assistantship falling through this semester I could use a little bit more cash to feel financially secure. I'm considering cashing out the IRA, but would appreciate advice.
posted by codacorolla on Dec 18, 2014 - 8 answers

## Names for various 401(k) contributions ?

At my company, I have a Roth 401(k) (post-tax dollars). The plan also allows "after-tax" contributions as well. (ie beyond the 401(k) limits). What's the name for those after-tax contributions, or what are they classified as, especially when rolling over or taking disbursements ?
posted by k5.user on Nov 14, 2014 - 7 answers

## How to prudently withdraw invested money?

I am looking for guidance on how to go about withdrawing from investment accounts well before retirement. I know the generic advice is that you should be steadily socking away your retirement savings, not spending it, but I need access to cash at the moment. If you can direct me to resources (web articles, books, etc.) on the wisest course to follow when cashing out investments, I would love to hear about them.
posted by anonymous on Sep 14, 2014 - 6 answers

## IRA in withdrawal phase - should I stay or should I go?

I'm about to reach age 59 1/2 and poised to begin making monthly withdrawals from my IRA. What questions do I need to ask the broker about the fee structure for doing this? If the fees seem unreasonable, now do I shop around for a new home? Would anyone like to recommend a plan they have experience with in this phase of an IRA?
posted by ackptui on Aug 6, 2014 - 4 answers

## No beneficiary on traditional IRA. Now what?

My mom's IRAs went to my dad. My dad put me down as beneficiary on all accounts yet bank is saying that there are no beneficiaries listed. I was there when all paperwork was signed.
posted by stormpooper on Jul 31, 2014 - 10 answers

## Retirement savings for the self-employed

It's April and time for yet another retirement account question. I am self-employed and want to open a new retirement account. Does anyone have experience with an individual 401(k) or SEP-IRA?
posted by natasha_k on Apr 1, 2014 - 5 answers

## How should I make a large (to me) fund purchase for my IRA?

I have about US\$20000 to invest in a total stock index fund in my Roth IRA. What is the best strategy for this purchase? Should I just purchase it all at once now or over some set schedule?
posted by sevenless on Mar 5, 2014 - 7 answers

## Why should I put money in an IRA?

Why should I put money in an IRA, as opposed to just investing it normally?
posted by Two Stranger on Mar 4, 2014 - 13 answers

## MFAaaaaay 401Kaaaay PHDeeeeee IRAaaaay

What is the best way to move money between retirement accounts while I am currently employed so that I can access it and minimize penalties when I go back to school? (Many, many details inside)
posted by rock'em sock'em puppets on Feb 27, 2014 - 7 answers

## In search of some intermediate financial advice.

MeFites have always been pretty good at giving basic financial advice, like how to start saving, building a budget, getting out of debt, etc. I'm there already. I find myself in the surprising situation of being comfortable these days, and I'd like to know: what's next?
posted by anonymous on Feb 20, 2014 - 13 answers

## Help me start saving for retirement (U.S.)

I would like to finally start saving for retirement! I'm thinking a Roth IRA is the way to go (unless you think otherwise and can tell me why), but I am a little confused/overwhelmed with how to proceed. A few snowflakes inside.
posted by likeatoaster on Feb 20, 2014 - 14 answers

## Any reason to keep track of lots, or even transactions, in an IRA?

Am I understanding the USA's IRA laws correctly that all I really have to keep track of, in order to eventually (years from now) take money out without penalty or double taxation or such, is the amount of after-tax money I put into it over the years?
posted by Flunkie on Jan 4, 2014 - 5 answers

## Wanted: Savvy retirement advice for a struggling youth

If I live until retirement age, I don't want to be broke. I am 24 and I want to start saving for retirement now, but I’m unsure how to go about it. I’ve heard good things about Vanguard, but I’m looking for some personal anecdotes and solid advice on how to go about this.
posted by Driven on Dec 2, 2013 - 17 answers

## Do I really need both stocks AND bonds in my long-term investments?

I am planning to invest for retirement (35+ years away) in a Roth IRA. I've always been told to have a mix of stocks and bonds in any portfolio, starting at about a 90/10 split for someone my age. Considering that I'm not going to touch this money for a very long time, wouldn't I be better off just putting my money into some low expense ratio index funds and skipping the bonds altogether? This seems to fly in the face of every investment advice I've ever seen, but I don't understand why.
posted by wondercow on Nov 23, 2013 - 19 answers

## Teaching My Money To Sit Up And Beg Comes Next

I had two orphan 401(k) plans from old jobs that I rolled over into my (traditional) IRA this year. When I do my 2013 taxes, do I count those as part of my IRA contribution for the year?
posted by EmpressCallipygos on Oct 14, 2013 - 8 answers

## Questions in preparation for early retirement

I am thinking of retiring early, relatively soon. Probably within five years, maybe much sooner. I want to make sure that I correctly understand various things, so I have several questions related to taxation, Obamacare, health savings accounts, IRAs, and SEPP.
posted by Sock McPuppet, Jr. on Jul 1, 2013 - 5 answers

## What are my options with this pension plan check?

I was issued a check from my old company's pension plan. Apparently it needs to go into a retirement account. Can you help me understand my investment options?
posted by karizma on Jun 5, 2013 - 4 answers

## Help me understand the traditional IRA

Currently I max out my Roth IRA, and I have a 401(k) with a small employer match. I contribute enough to be able to take advantage of the maximum match they offer. However, I still have money leftover I would like to invest.
posted by nanook on May 9, 2013 - 9 answers

## Retiring Early and Yes I am Lazy!

I am 28, have a \$60,000 a year job in Accounting and expect to be making close to \$100,000 in seven years (after that, raises more uncertain). I want to retire some time in my early to mid 40s. I have a wife who is 34 and works as a retail manager (making about \$40,000 a year). I am planning on living off of 20% of our after tax income (excluding mortgage payments). We currently do not have a mortgage but are planning on a house soon. We would like to travel at will and have the (option) of not working ever again. We also do not mind retiring in a cheaper location (Costa Rica, etc) to save on costs. What investment vehicles should I be considering given that I am retiring early? What kind of jobs that are part time could a retiree easily perform? How much money should be going in employee 401k type programs vs. individual investment options and IRA contributions.
posted by locussst on May 4, 2013 - 12 answers

## Any advantage to IRA if I can't deduct contributions?

I'm taking a new job with a very small company that doesn't offer a 401k. My spouse's job does offer a 401k. Based on what I see on this page, with our income, we would not be able to deduct any contributions I make to an IRA, and we're not eligible for a Roth IRA. So what is my best retirement investment strategy?
posted by primethyme on Apr 25, 2013 - 10 answers

I have been getting started with Vanguard, but spoke with an investment adviser today, and it all just seemed so much easier. I've spent hours trying to figure out what kinds of accounts to open, which offer tax deductions, what kind of investments to make, etc. It seems really tempting to just let someone handle this all for me, but I feel like I've never heard from people who are satisfied doing it that way. Countless articles I have read on the subject always make it sounds like someone is a sucker for paying higher management fees.
posted by imabanana on Apr 5, 2013 - 11 answers

## With the Dow so high, is now a good time to start a Roth IRA?

Hello! I'm in my early 30s and am finally financially stable enough to start socking away some cash in a Roth IRA (my employer does not offer any retirement plans). However, I'm a little worried that, with the market being at such a high, that something will happen due to all the current BS going on with Congress and the market will crash again, and I will lose a good chunk of money. Is this fear totally unfounded? Should I just start my Roth and hope for the best?
posted by emily37 on Apr 2, 2013 - 20 answers

## Investing while in the US on a fixed term contract

I know I should be talking to an financial planner/adviser about this, and I will do, but... I am British. I'm going to be living and working in the U.S. for somewhere between one and three years. I will probably return to the UK afterwards, but there is a chance I will stay in the U.S. forever. I would rate that chance at about 50/50. I would like to save a fraction of my income while in the U.S., and I would like those savings to grow. I would like to retain at least the possibility of suddenly withdrawing them if and when I leave the U.S. I understand there will be fees and taxes involved in such a withdrawal, but I would of course like to minimize them. And I would like to balance this possibility against the possibility that I will be staying forever, and should make a start on saving for retirement.
posted by caek on Mar 25, 2013 - 4 answers

## How to open an IRA from overseas, for expats

I am an expat and currently overseas (Dubai), and I want to open an IRA, how do I go about doing that? Is it even possible or do I have to actually be present there?
posted by convex on Mar 24, 2013 - 5 answers

## Saving for retirement with no employer retirement program

How to save for retirement when my employer offers no retirement savings program and I cannot contribute to an IRA tax-free? Details inside.
posted by Conrad Cornelius o'Donald o'Dell on Mar 23, 2013 - 12 answers

## 401k/Roth undisclosed "Forfeiture Fee" halves retirement rollover. Help!

I recently rolled over my old 401K and Roth accounts through an old employer and held by ADP. Throughout the process, I was told the only fee would be the \$50 "account transfer fee". But when the checks arrived half of my money was missing!
posted by iheijoushin on Mar 11, 2013 - 8 answers

## I'm good with money, but when it comes to retirement, I'm an idiot.

posted by floweredfish on Mar 7, 2013 - 14 answers

## Filing Taxes for the First Time: Roth IRA Question

Hi HiveMind, I'm filing my own taxes for the first time as a recent college graduate (using TurboTax -- so easy!) and I have a question with regards to my Roth IRA account. In 2012, I graduated college and started a business. We didn't open for business until late November and I only paid myself \$1,250 for all my work in 2012. I also opened a Roth IRA account and contributed \$5,000 for the year. However, according to TurboTax, contributions to an IRA account cannot exceed earned income. My question: can I simply report a \$1,250 contribution to the IRA on my taxes and leave the \$5,000 in the IRA? Will this get me in trouble? Should I merely take out the \$3,750 and invest it in a different account? If noticed, could I just plead ignorance as my first time filing? Thanks!
posted by masters2010 on Mar 3, 2013 - 5 answers

I have a chunk of money just sitting in an account that doesn't even earn interest. I'd like to park it into an IRA, but would like to avoid spending many hours researching them. I'd love to just pick a place, transfer the money over, and be done with it. What bank/financial institution currently offers the lowest fees for the best results? Do you have one that you adore, and offers a good deal?
posted by chowflap on Jan 28, 2013 - 18 answers

## Can someone explain how IRA early withdrawal penalties are calculated?

Everywhere mentions a 10% penalty, but nobody says whether this is pre or post tax, or whether it's added to your existing tax burden, or how these taxes actually get paid, etc.
posted by tylerkaraszewski on Jan 24, 2013 - 7 answers

## Want to contribute the \$5000 max for my Roth IRA, but not enough earned income?

I have \$5000 in my savings account, I already contributed the \$2000 I earned this year. I want to contribute \$3000 more from my savings at the end of this year but I am not sure if that is even allowed, since I didn't "earn" it. But then, how would the IRA or my roth IRA holder even know? I didn't even make enough income to require filing for taxes.
posted by kopi on Nov 7, 2012 - 9 answers

## The Strange Case of Mitt Romney's Massive IRA

How did Mitt Romney manage to amass \$102 million in his IRA?
posted by Despondent_Monkey on Oct 10, 2012 - 6 answers

## Tax on Early iRA Withdrawal

Looking at cashing in a post-tax IRA for purchase of a second home. Realizing there are tax and penalties to be applied, this still may make sense. Because the IRA funds are post-tax, however, what exactly will be our total tax liability be?
posted by flyingrock on Aug 26, 2012 - 2 answers

## stories for boys

All I know about Northern Ireland is from films from1990 to the present.
posted by asockpuppet on Jul 6, 2012 - 11 answers

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