http://www.thesunsfinancialdiary.com/about-me/2006-year-end-review-iii-net-worth/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.thesunsfinancialdiary.com/about-me/2006-year-end-review-iii-net-worth/#comment-6438 The Sun Wed, 11 Apr 2007 21:20:29 +0000 http://www.thesunsfinancialdiary.com/2007/01/03/2006-year-end-review-iii-net-worth/#comment-6438 Renee: I am not very familiar with SIMPLE IRA, but from what I read and my understanding, you may not be able to contribute the maximum to both Roth and SIMPLE. Since SIMPLE is one type of traditional IRA, and the maximum you can contribute in one year is $5000 for 2007. If you already maxed out your Simple, then I don't think you can put another $5K in Roth. Check IRS publication 590 for more details. Renee: I am not very familiar with SIMPLE IRA, but from what I read and my understanding, you may not be able to contribute the maximum to both Roth and SIMPLE. Since SIMPLE is one type of traditional IRA, and the maximum you can contribute in one year is $5000 for 2007. If you already maxed out your Simple, then I don’t think you can put another $5K in Roth. Check IRS publication 590 for more details.

]]> http://www.thesunsfinancialdiary.com/about-me/2006-year-end-review-iii-net-worth/#comment-5880 Renee Sat, 07 Apr 2007 17:19:50 +0000 http://www.thesunsfinancialdiary.com/2007/01/03/2006-year-end-review-iii-net-worth/#comment-5880 If we already put $6K each (spouse & I) in a Simple; then can we still buy a Roth IRA each for $5K. We are both over 50. Thanks If we already put $6K each (spouse & I) in a Simple; then can we still buy a Roth IRA each for $5K. We are both over 50. Thanks

]]> http://www.thesunsfinancialdiary.com/about-me/2006-year-end-review-iii-net-worth/#comment-1689 jersey jen Tue, 23 Jan 2007 05:03:43 +0000 http://www.thesunsfinancialdiary.com/2007/01/03/2006-year-end-review-iii-net-worth/#comment-1689 simply amazing. simply amazing.

]]> http://www.thesunsfinancialdiary.com/about-me/2006-year-end-review-iii-net-worth/#comment-1593 The Sun Fri, 19 Jan 2007 03:41:55 +0000 http://www.thesunsfinancialdiary.com/2007/01/03/2006-year-end-review-iii-net-worth/#comment-1593 Ming: Probably I wasn't very clear about the contribution. It is actually we both contribute $4000, the maximum amount allowed, to our IRA accounts. The $8000 is a total number, not for each of us. Ming: Probably I wasn’t very clear about the contribution. It is actually we both contribute $4000, the maximum amount allowed, to our IRA accounts. The $8000 is a total number, not for each of us.

]]> http://www.thesunsfinancialdiary.com/about-me/2006-year-end-review-iii-net-worth/#comment-1569 Ming Thu, 18 Jan 2007 06:57:49 +0000 http://www.thesunsfinancialdiary.com/2007/01/03/2006-year-end-review-iii-net-worth/#comment-1569 Hi, Sun, "We currently make between $160K to $190K per year before taxes". I remember you said you both contribute $8000 in 2006 for Roth IRA. The IRA is limit from full to zero when AGI (Adjusted Gross Income) is from 15k to 16k. I bet you AGI is over 15k, you might need to pay attention to IRA threshold. Hi, Sun,
“We currently make between $160K to $190K per year before taxes”.
I remember you said you both contribute $8000 in 2006 for Roth IRA. The IRA is limit from full to zero when AGI (Adjusted Gross Income) is from 15k to 16k. I bet you AGI is over 15k, you might need to pay attention to IRA threshold.

]]>