how old must one be to cash in some IRA's?
137912
Ages always mean from date of birth.\n\nWith a traditional IRA, once you reach age 59½, the threat of the 10% penalty disappears. You can withdraw as much from your regular IRAs as you want, penalty-free. Cash coming out of the account is taxable in your top tax bracket, except to the extent that it represents a return of nondeductible contributions
599874
Any place that manages IRAs will help you do the rollover -- after all, they want your money!\n\nIf you're young and don't have any other investments, just put it all in stocks, preferably a stock index fund.  You want to look for a fund with the lowest costs.
103673
She's right if that is as much as you can invest.  Your best bet is to max out both if you can afford to.\n\nHere's the order:\n\n401K to match:\nROTH IRA max\n401K max
355783
Yes, they have to be over 18 and also they have to be of sound mind.\n\nYou know, no dementia.\n\nYou can however, set up a trust and name someone as one of the beneficiaries of the trust who is of any age.  For ex. I request that John (15yrs) gets $3,000 at 16 yrs old then $6,000 at 18 and $10,000 when John graduates from college.
31570
Yes you can. Check with a financial planner and or an accountant though. Depending on your income you may not qualify for a deductible ira or a roth ira.
440773
There are different types of IRAs.\n\nThe maximum limits are: (figures for year 2005)\nSEP IRA - 100% of earned income or $40,000 whichever is lower\nROTH IRA - 4,000 or 4,500 if over 50\nTraditional IRA - 4,000 or 4,500 if over 50\nSimple IRA - 10,000\n\nHowever, there are limitations on the contribution if your income is too high or if you're qualified to contribute to an employer retirement plan.\n\nTry these links:\nhttp://www.fool.com/money/allaboutiras/allaboutiras09.htm\nhttp://www.irs.gov/publications/p590/index.html
12817
It depends on how old you are.  Most retirement plans depend on the economic conditions at the time of retirement.  One person can take their 401k out this year and might get more money then the person taking it out the year after.  See, its all economics.  On top of the economics, its what you invest in.  When you put money in a 401k, you have experts putting it into mutual funds for you.  They take alot from you.  So, theoretically, you can buy your own stocks and make a heck of a lot more.  And instead of investing in them for 45 years, you can invest for 8 years and make the same amount or more.  This is true, however, you dont know what to invest in.  So, I suggest you start small and on something a bit more safe.  I will show you 2 or 3 of the best ways to do this.  I am a rare coin expert.  These ways are not fool proof because the economy goes up and down in a cycle of booms and busts.  But, they do cut out the risk because you only have 10 years left.  \nThe first method is through gold.  I suggest you buy the physical form and not stocks or anything of that nature.  You can buy the physical form and allow the sellers to store it for you.  Do not allow them to store it for you if they are just a small company.  I would rather take the physical gold with me.  There is a fee to take this gold with you though.  But, its better then not having it.  With gold, its always hovering at about $278 to about $315.  I would say that anything less then $290 is a good buy.  When you buy, they always tack on an additional couple of dollars because the gold was assayed into a gold bar for you.  When gold is high, they add like $4.  When it is low, they might add $7 dollars.  Dont worry about this.  Just pay for it.  I would rather buy bullion coins then the gold bars in the packages.  They cost $10 dollars above the gold value in the bar form.  Now, there are certain gold bullion coins that you should and shouldnt buy.  Its always best to go for the pure gold ones.  The reason being is, sometimes a jewelry store will take it in, but they will only pay for its content because they were going to melt it anyways.  And if it wasnt pure 24k, then they might have to take a couple dollars off to turn it into 18k or 14k, etc etc.  So, the purest ones are the Canadian gold coins, and the Chinese gold coins.  When gold goes down, you buy, when they go up, you sell.  Its that simple.  You cant lose because gold goes up and down all the time.  So, dont sell if you lose.  Just keep it there.  Whats the point of saving if you are going to dip into it?  So, over the course of 10 years, I know you can make a sizeable profit.  The question is large or small because you will not know when to buy and sell.  All you see is a profit when you sell, and you see a cheap price when you buy.  What you do is buy when its around $290 or less.  Sell, when it goes up.  And with the excess, you can buy more gold.  Just continue doing this.  I know for a fact that you can start off with $3000 dollars today and make at least 20 trades in the next 10 years and make no less then 100% of your investment back.  Gold is currently at $500 plus.  What if you bought it when it was $290 or less, which is what is preferred.  Thats over 200 per ounce.  So, in a year or two, do you see that you would have had over 5k?  You just have to wait till it goes down to around the 300 mark.  I mean, even if you buy for 290, and it goes up to 310 in 2 weeks, you can still sell and make 300 dollars.  That would add almost another ounce to your portfolio.  Continue to do this until you are about to retire.  During the last year, you will be waiting for the highest price you can find to sell.  Another thing to look into is instead of gold coins, you can buy grain gold.  They are just little balls of pure gold.  They are usually a couple dollars cheaper, but they are hard to obtain sometimes.  \nSecond way of investing is buying coins from the US mint.  They will be the cheapest price you pa
826571
Individual Retirement Account, if your money is before taxes you can contribute to a traditional IRA, this means you earn interest on the untaxed money. You are taxed when you make take the money out at retirement. Roth IRA, you take money that has already been taxed and are able to draw from it at retirement, without taxes. This is rumored to have been named for Ira Cohen, an IRS actuary who was working with them back in 1974. You can go to just about any bank, credit union, or find a financial advisor to explain in detail all aspects, what is allowed, what is not allowes (such as drawing out your money before age 59.5).
621112
You can only contribute to an IRA from "earned income" up to certain limits depending on your age.  Capital gains and interest does not count toward earned income.  If all you earn in 2006 is $500 then you can put that $500 into an IRA but no more then that.
133917
At a younger age, the Roth is the best way to go. All your earnings and withdraw will be tax free. Also, in certain "situations" such as buying a home for the first time or medical bills you can have access to the funds, but generally you will have to wait a while to get your money. This savings vehicle should probably be combined with something like a 401k-especially if you can get an employer to match. Finally, you can get a credit for your retirement contribution on your taxes if you meet certain AGI restrictions. It is called the Retirement Contribution Credit, and, as I understand it, can be applied for Roth contributions. You have until 3/15 to contribute for last years' Roth-if you so choose. Good Luck!
1098775
You can't. The minimum age to sign a legally binding contract is 18 minimum, and in many cases 21. You would have to have a parent do it for you. Decide on a short list of options on exactly what you want to do with the money, maybe look at a few of the ads for discount brokers after entering a stock symbol on Yahoo Finance so you can tell the parent what you think it will cost on top of the actual cost of the shares, and ask them to help you acheive your goal of investing in --SHARES of corporate stock.
485173
0% forever if the money is in a Roth IRA.\n\n0% if the money is in a Traditional IRA - until you are required to withdraw the money at age 70 or so and claim the gain as regular income (not capital gains)\n\n15% if held for a year or more.\n\n35% (approximately, depending on tax bracket) if held for less than a year.
926705
You must be 18 years old to open a Saving's account...however, your parent or grandparents may open a savings account listing you as a minor.  Then you can deposit your money, but you may have to have 2 signatures to draw it out.  There is usually a minimum balance required on Savings accounts, usually $50.00 to $100.00.  The only other alternative to a double signature to with draw would be if a Debit card were ordered with the account, and then money can be drawn on the card thru an ATM  Hope this helps........Banks differ, but minors cannot be held liable. that is why an older adult is most  of the time required on the account with the monor.
151205
You can always rollover to your personal IRA account rather than taking the distribution.  Taking out the money from 401K not a good thing if you are not of retirement age because you have to give a lot to taxes and penalties.
4569
30 years of contributing the max to a Roth IRA each year should create a million.  If you have a 401k at work that offers matching, contribute enough to get the max of the match.
219511
You should check with whoever is managing your plan, or your accountant should know, but this might be helpful:  \n\nDo I have to withdraw all of my 401(k) savings when I reach age 70½?\nWhen you reach age 70½, you're required to withdraw a minimum amount depending on your life expectancy. An actuarial table showing life expectancies is available from the Internal Revenue Service (IRS). You must begin receiving these payments by April 1 of the calendar year following the year you turn 70½. \n\nTo determine your required minimum distribution, divide your 401(k) account balance by the number of years remaining in your life or by the remaining joint life expectancy of you and your spouse. Try the calculation both ways. You may find it more advantageous to determine your mandatory withdrawal amount by using both life expectancies instead of yours alone. \n\nYou may have to recalculate this mandatory distribution amount each year because of your account balance and life expectancy. \n\nYou must pay income tax on each of these mandatory distributions. You cannot roll the distributions into an IRA.
1076510
As long as you have the savings bonds and they have your name on them, you only have to take them to a bank.  With you proper ID they will be able to cash them in for you and will be able to give you the proper interest.  They stop earning interest after a certain amount of time, so don't let them hang on for say 25 year thinking you'll earn lots of money, you do better investing them or putting them in a mutual fund.