1. What is an IRA? An IRA is an Individual Retirement Account. An IRA is an Individual Retirement Account. Which means that it’s a tax-deferred retirement account for an individual that wants to set money aside for them when their done working. Which means that it’s a tax-deferred retirement account for an individual that wants to set money aside for them when their done working. http://www.wisegeek.com/what-is-an-ira.htm http://www.wisegeek.com/what-is-an-ira.htm http://www.wisegeek.com/what-is-an-ira.htm

2. How does an IRA work? An individual retirement account allows Americans to enjoy substantial tax benefits on retirement savings. An individual retirement account allows Americans to enjoy substantial tax benefits on retirement savings. http://www.ehow.com/how-does_4567185_an-ira- work.html http://www.ehow.com/how-does_4567185_an-ira- work.html http://www.ehow.com/how-does_4567185_an-ira- work.html http://www.ehow.com/how-does_4567185_an-ira- work.html

3. What are IRAs invested in? They can be invested in any type of publicly traded security, including stocks, bonds, and mutual funds. They can be invested in any type of publicly traded security, including stocks, bonds, and mutual funds. http://news.morningstar.com/classroom2/course.asp?do cId=4441&page=2&CN= http://news.morningstar.com/classroom2/course.asp?do cId=4441&page=2&CN= http://news.morningstar.com/classroom2/course.asp?do cId=4441&page=2&CN http://news.morningstar.com/classroom2/course.asp?do cId=4441&page=2&CN

4. What are the different types of IRAs? Traditional IRA Traditional IRA Roth IRA Roth IRA SEP IRA SEP IRA

5. Is there any insurance on IRAs? There is no way to make a tax-free transfer of the balance from an IRA to a life insurance policy. There is no way to make a tax-free transfer of the balance from an IRA to a life insurance policy. The tax must always be paid. The tax must always be paid. http://www.annuityadvantage.com/irataxbo mb.htm http://www.annuityadvantage.com/irataxbo mb.htm http://www.annuityadvantage.com/irataxbo mb.htm http://www.annuityadvantage.com/irataxbo mb.htm

6. Who is eligible to open an IRA? Anyone can open an IRA, if young adults want to open an IRA you would need to have a family member that could bring you. Anyone can open an IRA, if young adults want to open an IRA you would need to have a family member that could bring you. http://www.ira.com/faq/faq-04.htm http://www.ira.com/faq/faq-04.htm http://www.ira.com/faq/faq-04.htm

7. How much can I contribute to my IRA? It changes every year depending on which IRA you use. It changes every year depending on which IRA you use. Traditional and Roth IRA : Individuals under 50 can contribute $5,000 and people over 50 can contribute up to $6,000. Traditional and Roth IRA : Individuals under 50 can contribute $5,000 and people over 50 can contribute up to $6,000. SEP IRA: people can contribute up to 25% of your total income to your SEP IRA. SEP IRA: people can contribute up to 25% of your total income to your SEP IRA. http://www.life123.com/career-money/savings- retirement/IRA/how-much-money-can-i-contribute-to-my- ira.shtml http://www.life123.com/career-money/savings- retirement/IRA/how-much-money-can-i-contribute-to-my- ira.shtml http://www.life123.com/career-money/savings- retirement/IRA/how-much-money-can-i-contribute-to-my- ira.shtml http://www.life123.com/career-money/savings- retirement/IRA/how-much-money-can-i-contribute-to-my- ira.shtml

8. I am leaving a company and taking my 401K proceeds. How much time do I have to deposit them in an IRA before they are taxed as income? You have 60 days to roll over your distribution if the money was given to you. The best way to do this is to have the company administrator write a check to the IRA ROLLOVER account directly, this makes sure that nothing is withheld in taxes, and is much cleaner. Keep in mind that you can do only one rollover per year. You have 60 days to roll over your distribution if the money was given to you. The best way to do this is to have the company administrator write a check to the IRA ROLLOVER account directly, this makes sure that nothing is withheld in taxes, and is much cleaner. Keep in mind that you can do only one rollover per year. http://www.ira.com/faq/faq-07.htm http://www.ira.com/faq/faq-07.htm http://www.ira.com/faq/faq-07.htm

9. Can I have more then one IRA? Yes you can, you can use one IRA for long-term savings, short-term savings and intermediate- term savings. Yes you can, you can use one IRA for long-term savings, short-term savings and intermediate- term savings. Having more then one IRA can cause you problems. Such as, financial problems and bankruptcy. Having more then one IRA can cause you problems. Such as, financial problems and bankruptcy. http://www.ehow.com/facts_6328170_benefits- multiple-iras_.html http://www.ehow.com/facts_6328170_benefits- multiple-iras_.html http://www.ehow.com/facts_6328170_benefits- multiple-iras_.html http://www.ehow.com/facts_6328170_benefits- multiple-iras_.html

10. What fees are associated with IRAs? There's not really many, the popular one is the management fees, which you pay $40/month. There's not really many, the popular one is the management fees, which you pay $40/month. http://forums.kiplinger.com/showthread.ph p?t=4807 http://forums.kiplinger.com/showthread.ph p?t=4807 http://forums.kiplinger.com/showthread.ph p?t=4807 http://forums.kiplinger.com/showthread.ph p?t=4807

11. Can I sell the stock in my brokerage account and then but it in my IRA? An IRA can buy pretty much anything they sell – stocks, bonds, and mutual funds. Only if you have your IRA in a brokerage account. An IRA can buy pretty much anything they sell – stocks, bonds, and mutual funds. Only if you have your IRA in a brokerage account. http://www.mutualfundsnews.com/can-i- buy-individual-stocks-in-my-ira-or-just- mutual-funds http://www.mutualfundsnews.com/can-i- buy-individual-stocks-in-my-ira-or-just- mutual-funds http://www.mutualfundsnews.com/can-i- buy-individual-stocks-in-my-ira-or-just- mutual-funds http://www.mutualfundsnews.com/can-i- buy-individual-stocks-in-my-ira-or-just- mutual-funds

12. Are educational and 529 the same? An educational IRA is a savings plan for higher education. An educational IRA is a savings plan for higher education. A 529 Plan is an education savings plan. A 529 Plan is an education savings plan. So I would say they are the same because they all have to do with education. So I would say they are the same because they all have to do with education.

13. What happens when I contribute too much in my IRA? The average amount you should have in your IRA is $12,000. The average amount you should have in your IRA is $12,000. If you have had an account for 15 years or more years you add more to your IRA. If you have had an account for 15 years or more years you add more to your IRA. http://www.querycat.com/question/a7b54e 2d0f6a14dbab10972ec689cc20 http://www.querycat.com/question/a7b54e 2d0f6a14dbab10972ec689cc20 http://www.querycat.com/question/a7b54e 2d0f6a14dbab10972ec689cc20 http://www.querycat.com/question/a7b54e 2d0f6a14dbab10972ec689cc20

14. What are the implications for my estate if I have my investments in my IRA? You can make penalty-free withdrawals from a 401(k) at age 55. You can make penalty-free withdrawals from a 401(k) at age 55. After the age of 55 you would have to pay the 10% if you take money out. After the age of 55 you would have to pay the 10% if you take money out. http://www.retireearlyhomepage.com/wdra w59.html http://www.retireearlyhomepage.com/wdra w59.html http://www.retireearlyhomepage.com/wdra w59.html http://www.retireearlyhomepage.com/wdra w59.html

15. What are the benefits of making a conversion from a Traditional IRA to a Roth IRA? Traditional IRA benefits is: you can deduct all your IRA contributions from your income. That means you don’t pay tax on the amount you contribute until you withdraw money from the account during retirement. Traditional IRA benefits is: you can deduct all your IRA contributions from your income. That means you don’t pay tax on the amount you contribute until you withdraw money from the account during retirement. Roth IRA benefits is: there’s no age deadline for making contributions—you can put money in it for the rest of your life. Roth IRA benefits is: there’s no age deadline for making contributions—you can put money in it for the rest of your life. The benefits from a traditional IRA to Roth IRA are very good because you can put money in your Roth IRA for as long as you want and you can at any age. The benefits from a traditional IRA to Roth IRA are very good because you can put money in your Roth IRA for as long as you want and you can at any age. http://moneygirl.quickanddirtytips.com/what-is- the-difference-between-a-traditional-and-roth- IRA.aspx http://moneygirl.quickanddirtytips.com/what-is- the-difference-between-a-traditional-and-roth- IRA.aspx http://moneygirl.quickanddirtytips.com/what-is- the-difference-between-a-traditional-and-roth- IRA.aspx http://moneygirl.quickanddirtytips.com/what-is- the-difference-between-a-traditional-and-roth- IRA.aspx

16. What are the disadvantages from a Traditional IRA to a Roth IRA? Disadvantages for a Traditional IRA is: it requires IRA holders to withdraw a certain portion of their funds, if they needed more they can’t take as much out as they need. Disadvantages for a Traditional IRA is: it requires IRA holders to withdraw a certain portion of their funds, if they needed more they can’t take as much out as they need. Disadvantages for a Roth IRA is: Not everyone qualifies for a Roth IRA because of the income limits. Disadvantages for a Roth IRA is: Not everyone qualifies for a Roth IRA because of the income limits. http://cashmoneylife.com/2008/02/06/tradit ional-ira-vs-roth-ira/ http://cashmoneylife.com/2008/02/06/tradit ional-ira-vs-roth-ira/ http://cashmoneylife.com/2008/02/06/tradit ional-ira-vs-roth-ira/ http://cashmoneylife.com/2008/02/06/tradit ional-ira-vs-roth-ira/

17. How do you decide if a IRA is right for you? IRAs is right for anyone you just need to decide which one is the right one for you to use. IRAs is right for anyone you just need to decide which one is the right one for you to use. There's Traditional IRA, Roth IRA, SEP IRA and many more and each is for a different use. There's Traditional IRA, Roth IRA, SEP IRA and many more and each is for a different use.

18. How do I open an IRA? The first thing that you should do is to find and select a bank for your IRA. The first thing that you should do is to find and select a bank for your IRA. Once you have selected a bank, you need to fill out all the necessary forms to open the IRA. Once you have selected a bank, you need to fill out all the necessary forms to open the IRA. Once you have the account number, you should set aside money so that you can deposit it into your IRA account. Once you have the account number, you should set aside money so that you can deposit it into your IRA account. After funding your IRA, make sure you give the necessary instructions to the bank to invest the money. After funding your IRA, make sure you give the necessary instructions to the bank to invest the money. http://ezinearticles.com/?Simple-Steps-on- How-to-Open-an-IRA&id=1747950 http://ezinearticles.com/?Simple-Steps-on- How-to-Open-an-IRA&id=1747950 http://ezinearticles.com/?Simple-Steps-on- How-to-Open-an-IRA&id=1747950 http://ezinearticles.com/?Simple-Steps-on- How-to-Open-an-IRA&id=1747950

19. What is an IRA rollover or conversion? When do I need to do this? (rollover) The movement of IRA funds from one IRA provider to the account owner, and then to another IRA provider. (rollover) The movement of IRA funds from one IRA provider to the account owner, and then to another IRA provider. 60 days to complete this transaction before the transaction is considered a taxable distribution of funds. 60 days to complete this transaction before the transaction is considered a taxable distribution of funds. http://www.google.com/search?hl=en&rlz=1R2G GLD_enUS387&defl=en&q=define:ira+rollover& sa=X&ei=tfYRTcueE4L6lwfX4vDVCw&sqi=2&ve d=0CCsQkAE http://www.google.com/search?hl=en&rlz=1R2G GLD_enUS387&defl=en&q=define:ira+rollover& sa=X&ei=tfYRTcueE4L6lwfX4vDVCw&sqi=2&ve d=0CCsQkAE http://www.google.com/search?hl=en&rlz=1R2G GLD_enUS387&defl=en&q=define:ira+rollover& sa=X&ei=tfYRTcueE4L6lwfX4vDVCw&sqi=2&ve d=0CCsQkAE http://www.google.com/search?hl=en&rlz=1R2G GLD_enUS387&defl=en&q=define:ira+rollover& sa=X&ei=tfYRTcueE4L6lwfX4vDVCw&sqi=2&ve d=0CCsQkAE

20. Can I borrow funds from my IRA? Yes you can borrow money out of your IRA for example you can pull out money for a short term, you can take this money for 60 days have to put it back into your IRA account. Yes you can borrow money out of your IRA for example you can pull out money for a short term, you can take this money for 60 days have to put it back into your IRA account. http://www.fivecentnickel.com/2007/09/12/ borrowing-money-from-an-ira/ http://www.fivecentnickel.com/2007/09/12/ borrowing-money-from-an-ira/ http://www.fivecentnickel.com/2007/09/12/ borrowing-money-from-an-ira/ http://www.fivecentnickel.com/2007/09/12/ borrowing-money-from-an-ira/

21. Do you pay taxes on money in an IRA? If so, when and how much? (traditional IRA) you don't pay taxes until you withdraw your funds (traditional IRA) you don't pay taxes until you withdraw your funds (Roth IRA) you pay your taxes upfront, which means your Roth IRA contributions are made with regularly taxed income. (Roth IRA) you pay your taxes upfront, which means your Roth IRA contributions are made with regularly taxed income. http://www.life123.com/career- money/savings-retirement/IRA/when-do- you-pay-taxes-on-a-roth-ira.shtml http://www.life123.com/career- money/savings-retirement/IRA/when-do- you-pay-taxes-on-a-roth-ira.shtmlhttp://www.life123.com/career- money/savings-retirement/IRA/when-do- you-pay-taxes-on-a-roth-ira.shtmlhttp://www.life123.com/career- money/savings-retirement/IRA/when-do- you-pay-taxes-on-a-roth-ira.shtml

22. Other information on an IRA. How many IRAs can you have? You can have both Traditional and Roth IRAs. How many IRAs can you have? You can have both Traditional and Roth IRAs. What's the average age people usually start an IRA? Around 18 years old. What's the average age people usually start an IRA? Around 18 years old.

23. Quiz What is an IRA? What is an IRA? How does an IRA work? How does an IRA work? What are the different types of IRAs? What are the different types of IRAs? What are IRAs invested in? What are IRAs invested in? What’s the age that allows you to open an IRA account? What’s the age that allows you to open an IRA account?

24. Answers for quiz An IRA is an Individual Retirement Account. An IRA is an Individual Retirement Account. An individual retirement account allows Americans to enjoy substantial tax benefits on retirement savings. An individual retirement account allows Americans to enjoy substantial tax benefits on retirement savings. Traditional IRA, Roth IRA, SEP IRA Traditional IRA, Roth IRA, SEP IRA They can be invested in any type of publicly traded security, including stocks, bonds, and mutual funds. They can be invested in any type of publicly traded security, including stocks, bonds, and mutual funds. Anyone can open an IRA, if young adults want to open an IRA you would need to have a family member that could bring you. Anyone can open an IRA, if young adults want to open an IRA you would need to have a family member that could bring you.