Can I start a Roth IRA with $25,000?

4 ⤊

I know the annual max contribution is $4,000, but is there a max if I'm pulling the initial investment from cash, mutual fund and a VUL?

2007-11-06 17:48:29 · 4 answers · asked by Avestruz 1 in Business & Finance ➔ Personal Finance

Still 4K unless you roll a 401K into a IRA then convert paying the tax.

2007-11-06 17:52:21 · answer #1 · answered by shipwreck 7 · 1⤊ 0⤋

Doesn't matter how you are funding the Roth IRA, the limit is still $4,000 or $5,000 if you are 50 years of age or older.

2007-11-06 18:02:54 · answer #2 · answered by The Professor 5 · 1⤊ 0⤋

No, unless the money was being rolled over from another tax deferred retirement plan, the annual max stays the max..

2007-11-06 18:18:08 · answer #3 · answered by Judy 7 · 1⤊ 0⤋

The limit for a Roth is $4,000/$5,000 per year

2007-11-06 18:06:03 · answer #4 · answered by Squat1 5 · 1⤊ 0⤋