It’s time for another edition of Dollar and Cents. This is where I answer one of your questions.
This week question brings up something I’m semi-obsessed with – the Roth IRA!
If you rollover a 401k into an IRA is this amount subtracted from what you are able to contribute that year? So if I rollover my 401k next year if I leave my current employer, will I still be able to contribute to my IRA as usual up to the limit or will the rollover affect this?
With each Dollars and Cents video we want to provide some follow up links where you can get some additional information on the topic. If you are interested in learning about doing a 401k rollover into a Roth IRA, check out these reads:
- 7 Things You MUST Know About the Roth IRA for 2013 – There is a ton of great info in here for you. Before you open your Roth IRA you need to know if you even qualify. (Most people do, but still check!) Not sure how to rollover your 401k? Don’t worry, that’s in here, too. A must read on Roth IRAs.
- Best Places to Open a Roth IRA - With so many brokerage firms to choose from, how do you find the one that is right for you? This handy post breaks down costs for the major brokerages out there.
- Best Online Stock Broker Sign Up Bonuses – If you’re going to open up a Roth IRA with one of the brokerage firms you might as well get the biggest bonus that you can for opening the account!
- Can You Rollover Your 401k to a Roth IRA? – A complete breakdown of how to rollover your 401k into a Roth IRA.
- Start Saving For Retirement Today: Best IRA Online Brokers – Did you know you can open an IRA to do peer-to-peer lending?