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.
The only difference is that IRAs have much lower contribution limits than 401(k)s. In 2015, you can put up to $18,000 into a 401(k) (or up to 23,000 if you are age 50 or older) and $5,500 in an IRA (or up to $6,500 with the catch-up contribution).01k Plus Roth IRA. If you are making regular contributions to a 401k and are looking for another way to save even more retirement dollars, a Roth IRA is a great choice. Investors who qualify can contribute to both a 401k and a Roth IRA in the same year, and there are good reasons to do so.