Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: Can You Quailify Date: 3/4/2000 9:49 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Mepiper asks:

<<...for a IRA if you have a 401 with employer? No employer pension. My friend's 401 is terrible and would like to only put minimume to cover match. I told her I would ask THE FOOLS (I need backup) because I know I can depend on you to give us the straight scoop.>>

Anyone under the age of 70 1/2 with earned income can always make a contribution to a traditional IRA. The only question becomes is it deductible or not. Someone covered by an employer's retirement plan must meet certain adjusted gross income requirements to deduct the contribution. This year for a single filer, the whole $2K may be deducted when AGI is $32K or less; part when AGI is between $32K and $42K; and nothing when AGI is more than $42K. The phase-out range for joint filers is $52K to $62K. For more details, see our IRA area at

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next


Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
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.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! 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.