Rock And Roll Heaven by The Righteous Brothers. This talks about numerous music stars who died too young. First verse: Jimi gave us rainbows is Jimi Hendrix. Janis took a piece of our hearts is Janis Joplin. Otis took us all to the dock of the bay is Otis Redding. Remember Jim that way is Jim Morrison.
The idea is that even if you earn too much to contribute to a Roth IRA directly, you can open a Traditional nondeductible IRA and convert it to a Roth; there is no income limit on Traditional nondeductible IRAs or conversions.
Instructions. Understand the contribution limits for an IRA for the year in which you wish to contribute to both a Roth IRA and traditional IRA. Starting in 2008, you can contribute up to $5,000 to an IRA.If you are over 50 years of age, you can contribute an extra $1,000. Meet the requirements for contributing to an IRA in general.nstructions. Understand the contribution limits for an IRA for the year in which you wish to contribute to both a Roth IRA and traditional IRA. Starting in 2008, you can contribute up to $5,000 to an IRA.