The correct name has the power to show the reader straight away if he/she has landed in another world, another time, the past, the present, the future in the first few pages. My advice is always to choose names wisely. Donât put the reader of with a shabby unthought-of name.
Timing. The IRS, whether you continue to work or not, classifies you as retired once you turn 59 1/2 years of age for Individual Retirement Account purposes. At this age, you generally can begin withdrawing IRA money without fear of a 10 percent IRS tax penalty on premature withdrawals.As far as contributions go, you can make them to both Roth IRAs and traditional IRAs in retirement; however, the IRS does not allow traditional IRA contributions after you turn 70 1/2.s far as contributions go, you can make them to both Roth IRAs and traditional IRAs in retirement; however, the IRS does not allow traditional IRA contributions after you turn 70 1/2.
Annual Contributions. The IRS sets the limits for contributions to a Roth IRA, and it is important to review those limits and not exceed them. For 2011, you can invest up to $5,000 in your Roth IRA.If you are 50 years of age or older, you can invest an extra $1,000, for a total contribution limit of $6,000. If you are able to max out your Roth IRA contribution each year, your balance can grow much faster than if you contribute only a small amount each year.nnual Contributions. The IRS sets the limits for contributions to a Roth IRA, and it is important to review those limits and not exceed them. For 2011, you can invest up to $5,000 in your Roth IRA.