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How Much Can I Put In My Roth IRA

If you are wondering, “How Much Can I Put In My Roth IRA?”, you have come to the right place. We will discuss how much you can put in your Roth IRA and various situations that may arise.

If you are unfamiliar with Roth IRAs, read more on the page entitled What Is A Roth IRA.

How Much Can I Put In My Roth IRA: The Answer For Most of You

For most of you, the answer will be the same. You can put $5,000 into your Roth IRA. But wait! This was the number for 2009 and the government appears to be very flexible with us during these trying economic times. Apparently, they are going to adjust this number for inflation.

Let’s see.

Well, currently the numbers have not changed. We are still limited to the $5,000 dollar amount. However, there is one exception, the IRA “catch-up”.

IRA Catch-Up Amount

The one exception to the $5,000 limit is the people who are age 50 and over. This is called the IRA “catch-up” allowance and allows people to contribute an extra $1,000 each of these years.

Apparently, the government (in its infinite wisdom?), realized that we are not a nation of people who is planning well for the future. We are the “Now, Now, Now” generation of people.

Thus, when people are 28, instead of putting $5,000 in a Roth IRA, they elect to buy one of the best LCD TVs, get a great home theater, and take a trip to the Bahamas.

When they reach their late 40’s, they say, “Holy Sh*t, I have saved absolutely nothing.”

It is for them that the government has graciously created the “catch-up” IRA amount. But $1,000? C’mon government. Can’t you make this amount more like $10,000. We spent that money on fancy items to keep the economy rolling. Now, help us out ;)

How Much Can I Put in My Roth IRA: Summary

You can put $5,000 dollars a year into your Roth IRA. Ah, but you may be asking–because your clever–“can I open a whole bunch of Roth IRAs and put $5,000 in each?”

Buzzer! Sorry, you cannot do that. You can have several IRA’s but the total combined contribution cannot be great than $5,000.

However, you can have both IRAs and 401ks at the same time. Thus, max out that 401k as well if you are behind on your retirement contributions.

Roth IRA: More Reading

Roth IRA Best Rates: This article discusses the best place to open a Roth IRA, which one is best for you, and how you can get the Roth IRA Best Rates.
How To Open a Roth IRA: This article discusses the procedures in opening a Roth IRA and which type of account fits your situation best.
What is a Roth IRA: Yours truly wrote this explaining, in lay man’s terms, just what is a Roth IRA.

Richard CummingsHow Much Can I Put In My Roth IRA
beauty-of-socialist-sweden

Is Sweden A Socialist Country?

This morning I was investigating whether Sweden is a socialist country.   Why?  Well, having just seen many accusatory commentators on Fox News claiming that we are “becoming a socialist country like Sweden”, I decided to put on my investigative cap and do some research.

The first question that came to my mind was:  Is being like Sweden a bad thing?Read More

Richard CummingsIs Sweden A Socialist Country?

When Will I Receive My Stimulus Check

stimulus money from the governmentSince the government began offering stimulus checks, many people have wondered, “When Will I Receive My Stimulus Check?”.  In this article, we will take a look at when you should receive your stimulus check from the government.

These are tough economic times.  Even though the economy has shown signs of improvement, many people still need that stimulus check to pay for their monthly bills.  Unfortunately, 2009 may not be as good to you as 2008 was.

Most of the taxpayers who received a payment last year in 2008 will not qualify for a stimulus payment in 2009.

Those who did not file for a stimulus payment in 2008 because they were not eligible may still meet the criteria for 2009.

However, there are many of you asking “when will i receive my stimulus check?” and thus you must know that you are going to get one.

Generally, you will receive your government stimulus check about 8-12 weeks after you file your tax return.

People have a lot of questions about the stimulus package.  Here are the top stimulus check questions and some basic information on the stimulus payments that may be of service to you.

This year, if you are not getting a stimulus boost, you may be interested in a tax refund advance.  This will teach you how to obtain your tax refund from other sources before the government can pay.

We also have many people wondering how long does it take to get tax refund back?  This is because people need the money and they need it sooner than the bureaucracy allows.

If you are financially strapped right now, these are several ways to get money in your pocket quicker!

When Will I Receive My Stimulus Check: Summary

In summary, if you are due a stimulus check (which probably will not apply this year), it will take between 8-12 weeks to receive it and get it deposited in your bank account.

Richard CummingsWhen Will I Receive My Stimulus Check

Top Rated Auto Insurance Companies In United States

Top 10 Auto Insurance CompaniesGiven the prevailing economic climate, many of our readers want to know what are the Top Rated Auto Insurance Companies In the United States. Thus, we have compiled this list of the Top 10 Auto Insurance Companies for you.

If you want to jump right in and find competing car insurance rates from these premium companies right now, see the page Competing car insurance quotes.

We use to be able to assume that our insurance companies were stable. However, given the recent collapse of our most “trusted” banks, we need to ask the question: Is my insurance company stable? Will they be able to pay my claims?

As we investigate the Top Rated Auto Insurance Companies In the United States, we will look at not only the quality of service but the most basic question of all: Will my car insurance company be around tomorrow? Thus, this list of Top 10 Auto Insurance Companies is based not only quality customer service but on your insurance companies ability to pay you.Read More

Richard CummingsTop Rated Auto Insurance Companies In United States

Best Student Loan Consolidation | Get Out of Debt With These Trustworthy Loan Consolidation Programs

best student loan consolidation companiesIn this article, we investigate the Best Student Loan Consolidation and the Best Student Loan Consolidation Companies that enable you to pay off your myriad school loans such as Stafford Loans, PLUS Loans, and Federal Perkins Loans.

After the fiscal credit crisis in 2008/2009, banks have more stringent rules regarding offering loans and, for many, it is no longer advantageous to offer student loans.

Thus, when we look at the Best Student Loan Consolidation Companies, our options are far fewer than they would be just one or two years ago. For example, companies such as SallieMae have temporarily suspended their federal consolidation programs due to “severe legislative cuts”.Read More

Richard CummingsBest Student Loan Consolidation | Get Out of Debt With These Trustworthy Loan Consolidation Programs

Best New Car Incentives

In these days with a difficult economy we can find many Best New Car Incentives.  Each car company is angling for your business right now because there are not many buyers.  So when you ask how do I get the best deal on a new car?, the answer is to buy when the market is slumping.  During these times, you can always negotiate the best car price!

Our team of experts has compiled a list of the current best new car incentives for you.  Before you even step foot on a new car lot, you need to be aware of these incentives in order to negotiation the best car price.  Read More

Richard CummingsBest New Car Incentives