Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I'll try and make the long story short.

1) last year I was under the income limits and opened a Roth IRA (November 2012).

2) I switched jobs in June 2013, now Im set to go over the income limit, but have not yet contributed to said Roth Account.

3) Next year, I'll be married and will qualify for the limit of combined household income.

Questions are:

(A) given that my 2013 total income between my previous & current job is more than the limit (even though a significant chunk of this money is from OT), can I still contribute to the Roth by 2013's end?

(B) Will I have to change it to a Traditional IRA now, or can I wait a few years without penalty?
Print the post  


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.