What exactly is an IRA?
466789
Individual Retirement Account.  Now has two forms - traditional and Roth.  Both are money saved for retirement and invested usually in mutual funds.  Traditional IRA contributions are tax-deductible, but the distributions are taxed.  Roth IRA contributions are made after-tax, but the distributions are tax-free.  Both have set rules as to how much can be contributed per year (based on whether you also have a 401k), the age at which distributions can be taken and when they must be taken, and whether money can be withdrawn early without penalty for various reasons.
947919
Your question is not clear.  If you are referring to a roll-over of a 401K or IRA, then the rules are the same regardless of the State, because these are Federal laws.
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
3149
No.  You can have a 401k and a Roth IRA, but the Roth and the Traditional reach a max whether you put it all in one or a combination of the two.
151555
The IRA CD grows tax-deferred or tax-free (if a ROTH) until the IRA is closed out (usually at retirement age 59 1/2 yrs+). The conventional CD is in a taxable account, so earnings/interest are taxable each year.  Both CD's are investments, however they are sitting in different kinds of accounts which dictate when taxes will be paid.
284469
You don't need to pay tax when you redraw from Roth IRA when retired. Traditional IRA only let you defer taxes.
474928
Real Estate IRA's?  Here you go: http://www.pensco.com/education/RealEstateOverview.asp
127277
An IndividualK plan allows a self employed individual to set up a retirement plan that has significantly higher contribution limits than a traditional IRA, and depending on your income level, higher limits than SEP and SIMPLE plans also.\n\nCosts of an Individual K are much lower than a full 401k. If you have the financial wherewithall to contribute more than the maximum traditional and/or roth IRA contribution, then it makes sense to set up the Individual K. Make sure to compare the plans of several companies before settling on one. Also, you can hire your children and , as long as they are being compensated at a reasonable level for doing actual work, they can participate in your plan.
362002
You need to choose a custodian for your IRA, and request the employer to have the lump sum transferred to that custodian.  This will take some planning, filling out forms, etc. Check with HR, and of course with other recent retirees.\n\nIf you plan to retire 2 years or so in the future, just file the info away for future reference.  But a layoff could hit sooner, so it's good to be prepared!
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.
928732
Can't imagine why you would want to do this.\nJust a can of worms.\nYou would then have to decide whether you were an Orangeman or in the IRA.\nForget it.
373263
Well, if you save for retirement, you should put your money in an IRA. This helps the economy, which is why you receive tax breaks for doing so. The money you put in the IRA gains interest for yourself, which is good, and can be used in the interim by banks to loan out to consumers, in which the banks make money by charging the interest back to the consumer who initiated the loan. If you are saving money by putting it into any type of bank account, whether it be a CD, saving account, whatever... you are helping the economy. Likewise, if you don't save and just spend, you are helping the economy. If you save your money in a mayo jar and bury it in the backyard, you are not helping the economy, or yourself.
1009135
You may be able to borrow some from your IRA account but I would not recommend it.  Typically it would be for a home purchase and not home improvements.  Honestly I am not certain so you may want to take a look at publication 590 from the IRA that details out the rules for the IRA in plain english (which helped me quite a bit!)
79634
Educational Roth IRA, or just a ROTH IRA depending on their age.  These are tax free, the educational one can be used for college or other types of school.  The other is used for retirement, if you start saving early; they will thank you in the end.\n\nAlbert Einstein once said the most powerful formula is compound intrest.
223875
no. what happens in the IRA stays in the IRA, to borrow from the Vegas commercial.... it will be taxed as ordinary income when you withdraw it at retirement, unless it is a Roth IRA.
1176821
I think...your question...is kinda confusing.  There is the Tradional IRA, Roth IRA and 401(k).  I am not sure there is anything such as Tradional 401(K).\n\nif you're talking about 401(k) - you can move your 401(k) from previous employer to your current employer's 401(k) , OR if you want more options, besides 10 or so mutual funds your current employer offers ( or similar number of funds offered by your previous employer ), you will be better off, rolling your 401(k), into a ROLLOVER IRA. Of course, everytime you trade you're going to pay commissions, which may not be the case in 401(K)\n\nif you're talking about Traditional IRA to ROTH IRA : if you meet certain IRS criteria ( such as be Single, or file jointly if you're married and above all have a Adjusted Gross Income of less than 100K. )  If you think you're going to be in the same Tax Bracket as you are today or above that, when you're 50s ( i think 57 or something like that ),  you will be better off, paying taxes on your earnings in your traditional IRA, TODAY,  at your current lower federal income tax  bracket, so you don't have to pay ANYTHING in your ROTH IRA - even if grows to be Billions of $$$$.  As usual, there are the inherent benefits of ROTH IRA - you will not be required to withdraw monies from it ( with Traditional IRA you will be forced to take out money in 50s and pay taxes on it - if you don't you pay penalty ). You can pass on the ROTH IRA to your kids, etc.\n\nAs usual, consult a financial advisor, as each case varies.  \n\nOne more thing....If your considering converting traditional IRA to ROTH, be prepared to shell out taxes on your earnings/income - from out of your own pocket - DON'T CONSIDER PAYING IT OFF WITH YOUR EARNINGS/INCOMES FROM TRADITIONAL IRA - YOU WILL PAY EARLY WITHDRAWL PENALTY AT 10%
610231
You roll your 401K into a traditional IRA, then roll the traditional IRA into a Roth.  You will have to pay taxes on the income, but for some the Roth is a better deal (especially if you want to leave non taxable money to your children).