You can't share an IRA

Jun 20, 2012
Can my wife and I share one Roth IRA and contribute as much as $10,000 a year to it, or must we each have separate IRAs with the normal $5,000-a-year contribution cap? Jake, Madison, WI
Posted In: IRA, Roth-IRA, retirement savings

No retirement savings plan for now

May 16, 2012
I just graduated from law school and found the perfect job for me. Unfortunately, it does not offer a 401(k). I have a number of old 401(k)s from previous jobs, including a few that have been rolled over into Roth IRAs. Because I was in school for 3 years, I haven't been adding to my retirement saving for that period, thinking I could "make it up." To top it all off, my husband and I now make in excess of the maximum for IRA contributions. How should I be saving for retirement at this point? Jane, Los Angeles, CA
Posted In: retirement savings, 401(k), Roth-IRA, traditional ira, taxable accounts

Setting up a rollover IRA

May 8, 2012
My wife will soon lose her job after several years working in non-profit. I am confident in her ability to find another job, but in the meantime, we have been told that she will have to take money out of her 403(b), totaling about $45,000. What should we do with it? Roth IRA? Something I don't know about? James, Louisville, KY
Posted In: rollover IRA, IRA, Roth-IRA

The complex universe of retirement savings plans

May 7, 2012
Why can I put more money each year into a 401(k) than I can an IRA? This is stupid. I'm currently a contract employee and can only put $6,000 a year into an IRA, since I'm 50 and can use the catch-up provision. Last year, as an employee of a company that offered a 401(k), I saved more than $12,000. Plus, my company matched very generously. Thanks, Ernie, Sunnyvale, CA
Posted In: retirement savings plans, retirement savings, 401(k), Roth-IRA, sel-employed

Retirement savings is gone. Now what?

Apr 27, 2012
Hi. I'm 53 years old and have had to go through the little bit of my retirement savings. Now, I have $5,000 to start something, as far as retirement goes. What should I do? I do not have anything through work. Actually, my workplace is on brink of closing right now. Lisa, Louisville, KY
Posted In: Roth-IRA, retirement savings, Work, Social Security

A Roth and student loans

Apr 2, 2012
I am graduating from medical school. I have debt of about $170,000 at 6.8 percent non-compounding interest and $12,000 at 4 percent. I also have a Roth IRA with about $4,000 in it. Should I invest in my Roth IRA while making payments next year? I make $45,000 next year then $52,000 the year after, then $60,000 the third year. Do I put everything I can into paying off debt, or do I try to put a little in the Roth while making my income-based repayments on the loan? (Expected payoff is in 10 years.) John, Wauwatosa, WI
Posted In: Roth-IRA, student loans

Is a CD a worthwhile investment?

Mar 21, 2012
Should I consider a CD as a worthwhile investment? I am 26, work for a neat nonprofit, paid off my car in 1 year and plan to be paying student loans for 20 years. I have about $5,200 invested in stocks and mutual funds (most of which is split between a Roth and a traditional IRA). I have another $1,000 I'd like to invest. Should I continue with IRA contributions and modest stock purchases or consider something like a CD? The thing is, my online savings account APY is higher than the CD rate. I guess a third option is paying down an additional $1,000 on my student loans. What should I do? Thanks! Michael, Salisbury, MD
Posted In: Roth-IRA, IRA, Savings, CD, student loans

Savings and a summer internship

Mar 19, 2012
I'm a 20-year-old college student studying computer science. I recently accepted a paid internship offer at an investment bank for the summer. After taxes, I will make around $10,000. How should I spend, invest or save this money to best prepare myself for life after college? Zach, Binghamton, NY
Posted In: Savings, Roth-IRA, student loans, college, job

The best way to own TIPS

Mar 5, 2012
Are there any disadvantages to purchasing TIPS through something like Fidelity's Inflation Protected Bond (FINPX) for my Roth IRA? Or would it be a better idea to just purchase TIPS directly from the Treasury? Thanks, Danny, Davis, CA
Posted In: Treasury inflation protected securities, tips, IRA, Roth-IRA, Mutual funds, exchange traded funds, ETFs

To Roth 401(k) or not

Feb 28, 2012
My company just added a Roth 401(k) investment option to our retirement plan. I am currently saving 6 percent of my salary in my 401(k), with a 3 percent match from my company. (This is the maximum match.) Now that there is an option to invest in the Roth, with the same match available, I am not sure how to adjust my investments. I don't have any other retirement savings besides my 401(k). I have talked this over with a few of my friends and none of them seems to know the answer, either. Thanks for your help! Priscilla, Greenville, N.C.
Posted In: Roth-IRA, Roth-401(k), 401(k), retirement savings, Taxes


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