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1. I am still working and 72 years young. May I create a Roth IRA?

Yes. Unlike a normal IRA, which does not allow benefits past age 70 1/2, Roth IRAs have no age limitations. You can carry on to donate to your Roth provided that you've compensation.

2. I'm married, age 57, file a joint tax reunite and make $65,000. I am an individual in a 401( k) plan at work and set $5,0...

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1. I am still working and 72 years young. Can I create a Roth IRA?

Yes. Unlike a normal IRA, which doesn't allow benefits past age 70 1/2, Roth IRAs have no age limits. You may carry on to contribute to your Roth as long as you've compensation.

2. I am married, age 57, file a joint tax get back and make $65,000. I'm an individual in a 401( k) plan at the office and put $5,000 into my own personal traditional IRA. Can I create a Roth IRA?

Not in the tax year involved. You already set your regular contribution limit ($4,000) in-to your traditional IRA in addition to because you are over age 50 yet another $1,000 catch-up contribution that is allowed. In your case, you've made the maximum IRA contribution. If you put less into your conventional IRA, you might put the difference, as much as $5,000, into a Roth IRA.

3. Navigating To quality ira silver seemingly provides suggestions you can give to your aunt. I'm single and my modified adjusted gross income for 2006 was $115,000. I've a preexisting Roth IRA. I found out about physical gold ira by browsing Google Books. Can I make a contribution for 2006?

No, you made too-much money. For 2006, if your modified adjusted revenues was significantly less than $95,000, you may produce a full contribution to your Roth IRA. If it had been over $110,000 the rules say, you cannot make any contribution. If it had been between $95,000 and $110,000, there is a formula to determine a partial contribution limit.

If you were married and filed a joint reunite, you may have made a full Roth IRA contribution and made around $150,000. If you were married and your modified adjusted gross income was over $160,000, no contribution would have been possible. For incomes falling between these f