Everything You Need To Know About Your IRA


This MarketWatch article by Bill Bischoff is very informative and should be a must read for those that aren’t that familiar with rules regarding their own IRA!

The articles expands on the following topics:

  • Who is eligible for traditional IRAs 
  • Who is eligible for Roth IRAs
  • How much you can contribute
  • Taxes due after age 59 1/2
  • Early Withdrawal (before 59 1/2) for higher education expenses
  • Early Withdrawal (before 59 1/2) for first time home purchase
  • Early Withdrawal (before 59 1/2) for death or disability
  • Early Withdrawal (before 59 1/2) for other reasons
  • SEP & SIMPLE IRAs for self employed folks and small business owner
    • Eligibility
    • Contribution limits for 2015
    • Withdrawals after age 59 1/2
    • Withdrawals before age 59 1/2
    • What is AGI?
    • What is earned income?


To read the full article, click on the web link below.

Everything You Need To Know About Your IRA


Click below to read related articles: 
1. IRA accounts are tax-smart and better than ever

2. Benefits of IRA Accounts & Some of The Rules

3. Understanding the IRA mandatory withdrawal rules


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