Is it possible to open a second roth ira?

Answer It is possible to open a second Roth IRA or even more if you meet the income limits set by the Internal Revenue Service. The number of Roth IRA accounts a person owns is irrelevant. The IRS places ... Read More »

Top Q&A For: Is it possible to open a second roth ira

Who can open a Roth IRA?

A Roth IRA can be opened by a person who receives U.S. taxable income. Roth IRA contributions are not subject to the age limit of 70 1/2 years imposed on traditional IRAs. The Internal Revenue Serv... Read More »

Can I Open a Roth IRA for My Children?

Because there is no age requirement for opening an account, a Roth IRA can be opened in a minor's name. The account is funded by gifted contributions until the minor earns taxable income.Source:The... Read More »

How to Open a Roth IRA Account?

A Roth IRA is an individual retirement account (IRA) allowed under the tax law of the United States. Named for its chief legislative sponsor, U.S. Senator William V. Roth Jr. of Delaware. It is one... Read More »

Can you open a roth ira if you are retired?

If you are retired and have no sources of earned income, such as wages, salaries or tips, you cannot open a Roth IRA because you must have earned income equal to or greater than your contribution. ... Read More »