No. of Recommendations: 0
(Basically, I discovered that I was not eligible to contribute any amount and I contributed the maximum amount, so we're looking at 2K here.)

If you didn't qualify in 2001, are you sure you will on 2002? If you don't it's another 6% penalty. If you don't want to withdraw the funds, consider a recharacterization to a traditional IRA. It may not be deductible but it gets rid of the penalty and you can always contribute extra funds to a Roth in 2002.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement