Comments on: Friendly IRA Reminder http://www.consumerismcommentary.com/2005/04/13/friendly-ira-reminder/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 13 Mar 2010 08:23:19 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Flexohttp://www.consumerismcommentary.com/2005/04/13/friendly-ira-reminder/#comment-338 Flexo Thu, 14 Apr 2005 17:27:19 +0000 http://wp.consumerismcommentary.com/?p=263#comment-338 I clarified the text, but contribution limits and deadlines are the same whether you have a Traditional or Roth IRA. However, you can't withdraw your principal penalty-free from a Traditional IRA, only a Roth IRA allows that.There are other <a href="http://beginnersinvest.about.com/cs/iras/f/tradvsrothira.htm" rel="nofollow">differences</a> as well. I clarified the text, but contribution limits and deadlines are the same whether you have a Traditional or Roth IRA. However, you can’t withdraw your principal penalty-free from a Traditional IRA, only a Roth IRA allows that.

There are other differences as well.

]]> By: jimhttp://www.consumerismcommentary.com/2005/04/13/friendly-ira-reminder/#comment-337 jim Thu, 14 Apr 2005 05:51:24 +0000 http://wp.consumerismcommentary.com/?p=263#comment-337 You may want to modify your original post to say Roth IRA... it might confuse people otherwise.jim You may want to modify your original post to say Roth IRA… it might confuse people otherwise.

jim

]]> By: nickelhttp://www.consumerismcommentary.com/2005/04/13/friendly-ira-reminder/#comment-336 nickel Thu, 14 Apr 2005 00:16:16 +0000 http://wp.consumerismcommentary.com/?p=263#comment-336 This is very good advice. You should also keep in mind that regular contributions to a Roth can be pulled at anytime, for any reason. Thus, if you are unsure if you can swing a contribution without dipping too deeply into your savings, just do it. You can always take it out later, but the same can't be said for making your '04 contribution later. For more details, see here:<a href="http://www.recycledcognition.com/2005/04/05/max-that-roth/" rel="nofollow">http://www.recycledcognition.com/2005/04/05/max-that-roth/</a>--recog This is very good advice. You should also keep in mind that regular contributions to a Roth can be pulled at anytime, for any reason. Thus, if you are unsure if you can swing a contribution without dipping too deeply into your savings, just do it. You can always take it out later, but the same can’t be said for making your ‘04 contribution later. For more details, see here:

http://www.recycledcognition.com/2005/04/05/max-that-roth/

–recog

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