Start Roth IRA

ctk asked: Moving money from brokerage accounts that include iras where we were paying a financial advisor, etc. to a credit union money market for a year or so while waiting to see what happens with the economy. Can our roth iras be moved to credit union roths without any problem? Baltimore, MD

Crazygurl1972 asked: I am interested in purchasing an IPO but fidelity (the brokerage firm where my account is) has quiet strict guidelines about who can be involved in an IPO and who cannot – so I have to wait for the IPO to be in the secondary marekt – how long does that normally take [...]

Justin T asked: I contributed $4,000 for the year 2007 on my Roth IRA account at Scottrade. Can I withdraw my initial contribution of $4,000 and open another Roth IRA to another brokerage that will count as year 2007 contribution? Ultimate Betting System

spaceskating_girl asked: There are several banks out thre which also offer brokerage services. some of the banks may declare bankruptcy due to the credit crisis. I have mutual funds in one of those banks. The funds are holdings of all kinds of stock so I would assume they continue to exist. Or am I wrong? [...]

With a new year comes a new limit for contributions, however 2010 will have the same contribution limits as 2009. For 2010, the contribution limit for Roth IRAs will be $5,000 for Age 49 and Below; $6,000 for Age 50 and Above (to reflect the “catch-up” amount). If you are getting a jump on 2010 [...]