Comments on: 7 Things You Need to Know About the Roth IRA Rules for 2009

By: * 2010 Roth IRA Conversion Rules, What Is The Big Deal?

* 2010 Roth IRA Conversion Rules, What Is The Big Deal? — Thu, 17 Sep 2009 20:35:30 +0000

[...] one of the ones that doesn’t understand it, here’s a post I wrote that discusses the Roth IRA Rules that should help break down some of the basic concepts. After you’ve read that, here are some [...]

By: Traditional IRA or Roth IRA: Which is Best For You?

Traditional IRA or Roth IRA: Which is Best For You? — Thu, 27 Aug 2009 04:27:18 +0000

[...] to the plan, but the retiree is required to pay income taxes when he accesses the money. With a Roth IRA, the contributor gets no tax deduction at the time of the contribution but pays no taxes when [...]

By: How to Master your Finances | The Art of Manliness

How to Master your Finances | The Art of Manliness — Wed, 22 Jul 2009 20:25:22 +0000

[...] to bench press 415 for reps. Let’s say that by the age of 25 you are able to sock away the maximum Roth IRA limit of $5,000. If you continue to do so for 30 years, averaging 8% return, you’ll have a $600,000 [...]

By: Basics of Medicaid Eligibility

Basics of Medicaid Eligibility — Mon, 13 Jul 2009 13:51:19 +0000

[...] savings accounts, certificate of deposits, money market account, stocks, bonds, IRA (including Roth IRA’s), pensions, 401(k)s, 403b’s, second cars, and so on. Basically all money and property as well [...]

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Applying for an Internship — Tue, 09 Jun 2009 11:03:29 +0000

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By: 5 Ways to Save for College | Prime Time Money

5 Ways to Save for College | Prime Time Money — Mon, 08 Jun 2009 17:31:59 +0000

[...] for the kids’ college, and put their own retirement on the back burner. By utilizing the Roth IRA, you ensure that you are saving for retirement and if your kid does goes to school you can pull out [...]

By: Jeff Rose

Jeff Rose — Mon, 18 May 2009 20:59:56 +0000

Britt-

Thanks for stopping by and sharing your insight. It’s been my intention to have a follow up post sharing those same points. Looks like you did it for me….Thanks!

By: Britt (Your Roth IRA)

Britt (Your Roth IRA) — Mon, 18 May 2009 18:36:13 +0000

Point #3 is excellent. You’re wise to point out that contribution withdrawals are based on actual investment value and not just the amount of money you initially contributed. Failure to understand that point could end up being a costly error when penalties and taxes are thrown on top of the obvious investment loss.

But there’s at least two other ways I can think of in which you can withdraw both your Roth IRA contributions AND the earnings and accrued interest tax-free and penalty-free so that you can use your Roth IRA like a savings account…

1) Qualified Education Expenses – You can withdraw funds tax-free and penalty-free from your Roth IRA to pay for college tuition, books, and other directly-related education expenses for yourself, your spouse, your children, or your grandchildren. So a Roth IRA can be a great way to save for college!

2) The Purchase of a First Home – You can withdraw funds tax-free and penalty-free from your Roth IRA to pay for up to $10,000 of qualifying expenses related to the purchase of a first home. While you can only do this one time in your life, you can do it for yourself, a child, or a grandchild just like with the education expenses. So a Roth IRA can be a great way to save for the purchase of a first home as well…!

By: Carnival of Pecuniary Delights #4 - A Little Definition | Smart Financing Ideas On snopoker.com

Wed, 06 May 2009 10:02:19 +0000

[...] Jeff Rose from Good Financial Cents presents 7 Things To Know About Roth IRA for 2009. [...]

By: Ways To Save Money At Sporting Events | Frugal Dad

Ways To Save Money At Sporting Events | Frugal Dad — Wed, 29 Apr 2009 02:50:50 +0000

[...] that to be a pretty significant savings. Money that could be added to our emergency fund, Roth IRA, or 529 College Savings Plan. Nothing like boosting your nest egg and still rooting on your [...]