Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

June 30, 2024 No Comments

A: Yes, you can contribute to both a Roth IRA and a traditional IRA in the same year. The total contribution into both cannot exceed $5,500 for individuals under 50, or $6,500 for those 50 and over. For example, a person 49 or younger can

Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

July 7, 2024 No Comments

Can dividends be paid out monthly?

June 30, 2024 No Comments

A: Although it is more common for dividends to be paid quarterly or annually, some stocks do pay monthly dividends. Dividends: The Basics Public companies pay dividends to their shareholders, typically in cash, as a means of expressing thanks for their continued support. Dividends are

Can dividends be paid out monthly?

July 7, 2024 No Comments

Can I borrow from an IRA without penalty?

June 30, 2024 No Comments

Technically speaking – yes. The 60-day rollover rule applies to all types of IRAs. This 60-day rollover rule allows you to withdraw assets from your IRA and roll over the amount within 60 days. If the amount is rolled over within 60-days, the distribution (withdrawn

Can I borrow from an IRA without penalty?

July 7, 2024 No Comments

Can I borrow from my annuity to put a down payment on a house?

June 30, 2024 No Comments

A: You can borrow from your annuity to put a down payment on a house, but be prepared to pay an assortment of fees and penalties. In fact, when figuring a way to fund your down payment, borrowing from an annuity should be a method

Can I borrow from my annuity to put a down payment on a house?

July 7, 2024 No Comments

Can I close my existing Roth IRA and invest in a new Roth IRA at a different financial institution without a tax penalty?

June 30, 2024 No Comments

A: If you withdraw your Roth IRA contribution, the amount will be tax and penalty free. If your initial contribution accrued earnings while in the Roth IRA and you also withdraw the earnings, the earnings will be subject to income tax. Furthermore, if you are under

Can I close my existing Roth IRA and invest in a new Roth IRA at a different financial institution without a tax penalty?

July 7, 2024 No Comments

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