Valuable Tidbits About Roth IRA Contribution Eligibility

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roth ira tidbitI want to go into a bit more detail on the income restrictions associated with Roth IRA contributions.

In the previous post I gave a very generalized view, here’s a bit more…

The amount a single taxpayer can contribute is phased out if your AGI is between $99,000- $114,000 for 2007. Which means if you earn less than $99,000 in 2007 you are welcome to make a full Roth contribution. If your AGI exceeds $114,000 for 2007 then you can not make any Roth contributions.

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What is a Roth IRA? and Why You Need To Own One

mighty roth iraI have made a lot of references so far to the mighty Roth IRA. I’ve stated before that the advent of the Roth IRA is one of the most beneficial pieces of legislation to ever come out of Washington D.C.

In my mind, Uncle Sam has given the American public a gift here, its time to take that ball and run with it, especially those of you in your 30’s and 40’s.

Because of the importance of the Roth IRA I plan on covering it thoroughly here… probably over the course of many many many posts. Lets start with the basics…

What is a Roth IRA?

Continue Reading “What is a Roth IRA? and Why You Need To Own One”