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Author: jax4pres Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Ira Questions Date: 6/29/2001 4:39 PM
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Hello all,
I was just curious about how a ROTH IRA functioned. Here is my situation:

I would like to open an account with Vanguard, and purchase one of their funds. Don't worry, the expense ratios are low, the turnover is low, etc.

Unfortunately, the minimum initial investment for the fund is 25K. That goes for an IRA fund too. Being that there is a 2K limit on your contribution, how does this work? Does the remaining 23K get diverted into some other non-IRA account?

My other question is: I have no earned income on my name this entire year, and this may continue up through tax day (next April 15).

What will happen to the account if I try to set it up? Will I be rejected?

Can someone please explain, I'd really appreciate it.

PS - please prompt for email in your reply...

Thanks again,

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