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.
By now most of us know that an IRA is a good investment for retirement, but it also saves a big chunk of money on your tax bill. Emily Brandon, writing for US News, explains: Workers can contribute up to $5,000 to an IRA in 2012, or $6,000 if they are age 50 or older.The tax savings from making an IRA contribution in April can be enormous.If an employee who is in the 25 percent tax bracket contributes $5,000 to a traditional IRA, he will save $1,250 on his current tax bill.y now most of us know that an IRA is a good investment for retirement, but it also saves a big chunk of money on your tax bill. Emily Brandon, writing for US News, explains: Workers can contribute up to $5,000 to an IRA in 2012, or $6,000 if they are age 50 or older.