Where can one get a individual retirement account?

Where can one get a individual retirement account?
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1 Answer

Answer :

Individual retirement accounts or IRAs are savings accounts for use when you retire. They are opened often for their tax breaks. You can open one at the bank but there are restrictions, not everyone can have an IRA. Your income and employment status can effect your eligibility. There are also several types of IRAs. They are Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs.
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Related questions

Mark the correct option relating to Senior citizens saving scheme a) An individual of the Age 60 years or more may open the account b) An individual of the age of 55 years or more but less than 60 years who has retired on superannuation or under VRS can also open account within the one month of receipt the retirement benefits and not exceed the amount of retirement benefits c) The maturity period is 5 years d) All the above

Description : Mark the correct option relating to Senior citizens saving scheme a) An individual of the Age 60 years or more may open the account b) An individual of the age of 55 years or more but less than 60 ... and not exceed the amount of retirement benefits c) The maturity period is 5 years d) All the above

Last Answer : d) All the above

Can an individual contribute to an IRA and another retirement plan at the same time?

Description : Can an individual contribute to an IRA and another retirement plan at the same time?

Last Answer : Yes, individuals can contribute to a traditional IRA whether or not they are covered by another retirement plan Small catch... they may not be able to deduct all of their contributions if they ... retirement plan. Note that contributions to a Roth IRA are not deductible and income limits apply.

Where can I find any information on guaranteed retirement account proposals and claims of confiscation of 401k funds?

Description : Where can I find any information on guaranteed retirement account proposals and claims of confiscation of 401k funds?

Last Answer : answer:I hadn't even heard the term until you mentioned it. It's all news to me. I did a google search for Guaranteed Retirement Account and found the same links you can find doing that search. So I ... right-wingnuts. I don't know yet, but it's something else to know about'. Thanks for the Q.

What will happen if I decide to withdraw money out of my 401K account before I reach retirement age?

Description : What will happen if I decide to withdraw money out of my 401K account before I reach retirement age?

Last Answer : You will get nailed with at least a 10% penalty and have to claim it as taxable income besides, unless you can do it on a 401k loan wich you repay to yourself at a set interest rate. (a much better idea)

Are self-directed IRAs available to people who have a retirement account through their employer?

Description : Are self-directed IRAs available to people who have a retirement account through their employer?

Last Answer : IRA's are available to anyone with an earned income. A traditional IRA does not have any income limitations unlike the Roth IRA which phases out its benefits for those making high incomes. Many ... to the company match and then contribute to an IRA to gain access to additional investment options.

Benefits of an Investment Retirement Account?

Description : Benefits of an Investment Retirement Account?

Last Answer : For many eventual retirees, an investment retirement account can often prove more than vital. These accounts are often individual retirement accounts that are vested into stocks rather than a simple ... what they can to avoid this problem by making smart investments and growing their portfolio.

What is a Retirement Savings Account?

Description : What is a Retirement Savings Account?

Last Answer : A retirement savings account will never be named as such, but there are certain types of investments that simply work best when saved for retirement. Among them - The annuity. Many annuities have maturation ... IRA and the Roth IRA, and the instances in which they could take advantage of both types.

Important 'dos and don'ts' for a privacy minded individual opening their first Facebook account?

Description : Important 'dos and don'ts' for a privacy minded individual opening their first Facebook account?

Last Answer : answer:1: Use a fake name that looks like a real name. 2: Use a fake/dump email account to set it up. 3: Set your posts to friends only 4: Set your friend requests to friends of ... things that have to be public are your name and your profile picture. Anything else can be set to friends only.

What are the other deposit accounts can be opened by an individual in where one holds „Basic Savings Bank Deposit Account‟? A. Fixed Deposit B. Recurring Deposit C. Another BSBDA D. Both A and B E. None of the Above

Description : What are the other deposit accounts can be opened by an individual in where one holds „Basic Savings Bank Deposit Account‟? A. Fixed Deposit B. Recurring Deposit C. Another BSBDA D. Both A and B E. None of the Above

Last Answer : D. Both A and B Explanation: One can have Term/Fixed Deposit, Recurring Deposit etc., accounts in the bank where one holds ‗Basic Savings Bank Deposit Account.

How many Basic Savings Bank Deposit Account(BSBDA) can be opened by an individual? A. One B. Two C. Three D. Four E. None of the Above

Description : How many Basic Savings Bank Deposit Account(BSBDA) can be opened by an individual? A. One B. Two C. Three D. Four E. None of the Above

Last Answer : A. One Explanation: An individual is eligible to have only one ‗Basic Savings Bank Deposit Account‘ in one bank.

Mark the incorrect option relating to PPF account a) An individual can open account with Rs 5/- b) Joint account can be opened in PPF c) Nomination facility is available d) Both the A and B

Description : Mark the incorrect option relating to PPF account a) An individual can open account with Rs 5/- b) Joint account can be opened in PPF c) Nomination facility is available d) Both the A and B

Last Answer : b) Joint account can be opened in PPF

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Description : PPF account can be opened by a) An individual adult can on his own name b) An individual on behalf of minor c) Both the A & B d) None of these

Last Answer : c) Both the A & B

A depositor may operate a senior citizen account a) More than one account in individual capacity or jointly with spouse b) Only one account single another one with spouse c) Only one single account and more than one joint account d) None of these

Description : A depositor may operate a senior citizen account a) More than one account in individual capacity or jointly with spouse b) Only one account single another one with spouse c) Only one single account and more than one joint account d) None of these

Last Answer : a) More than one account in individual capacity or jointly with spouse

All of the following are the limitations of televised instruction except (a) Televised lesson moves at a fixed speed and thus can not take the individual differences of students into account (b) It does not permit the exchange of ideas between the teachers and taught (c) It does not properly help the students in making the materials clearly understood (d) Experts consume much time in planning and preparation of the programme.

Description : All of the following are the limitations of televised instruction except (a) Televised lesson moves at a fixed speed and thus can not take the individual differences of students into account ... materials clearly understood (d) Experts consume much time in planning and preparation of the programme.

Last Answer : (c) It does not properly help the students in making the materials clearly understood

In an administered VMS, informal co-ordination brings about a high level of interorganisational management, BUT A)decision making does not take into account the goals of the system. B)channel members do not remain autonomous. C)the decision making is not co-ordinated. D)the individual channel members remain autonomous.

Description : In an administered VMS, informal co-ordination brings about a high level of interorganisational management, BUT A)decision making does not take into account the goals of the system. B)channel members ... . C)the decision making is not co-ordinated. D)the individual channel members remain autonomous.

Last Answer : D)the individual channel members remain autonomous.