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If my wife and I open up an IRA this year and we are over 65 years old, how soon can we withdraw the funds w/o penalties?
Wiki User
∙ 15y ago
First the question of set up. If you establish a ROTH IRA, there is no age limit, however, with a traditional IRA, the limit for establishing the IRA is 70.5. IRAs can only be finded by income derived from work, so assuming you have a salary, funds can be withdrawn after the age of retirement. In the case of a traditional IRA, you can withdraw earnings as soon as they accumulate as long as you begin withdrawal by April 1st of the year after you turn 70.5.
Wiki User
∙ 15y ago
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Comparative advantages of investing in open - end funds?
You can withdraw your investment any time you want. You need not wait until the fund's maturity date to redeem your investment.
How do you get your 401k from old jobs you haven't worked for in years?
The easiest way is to open a traditional IRA account (not a Roth IRA) for a "rollover". A company like Fidelity or Vanguard can help you set up the account and do the rollover. Make sure that the funds go directly to the IRA (not a check made out to you), so that you don't get hit with taxes, penalties and disqualification of the funds. If you do it right, it's a completely non-taxable transfer.
Are there penalties for driving with your animal in the back of an open pickup?
it really maters what state you are in some states have penalties
Why in an open economy does the supply of loanable funds slopes upward?
The supply of loanable funds slopes upwards in an open economy because there are more funds available. An open economy allows for more money to be put into the economy.
What do open-end funds require?
Open-end funds require the issuing company to redeem the shares upon request by the security holder
Can you draw funds from a Mutal Fund?
If it is an open ended mutual fund - Yes, you can draw the funds
Are open ended mutual funds listed on a stock exchange?
Both Open & Close ended Mutual Funds are not listed on a stock exchange. Only Exchange Traded Funds and stocks are listed in a stock exchange
If one can withdraw hisher moneywhat is that persons account condition it become active or it becomes close?
In order to withdraw money, the account must be an open account.
Can a social security card be used to withdraw money?
No, you cannot use a social security card to withdraw money. A social security card may be useful if you want to open a bank account, though, and you can withdraw money from that.
How much did U.S. open-end mutual funds control in 1993?
U.S. open-end mutual funds controlled more than $1.7 trillion in assets by 1993
Are open-end funds the same as mutual funds?
Often referred to as the mutual fund industry, the open-end fund industry comprises about 95 percent of the mutual fund market
Open ended mutual funds?
the supply of shares in the funds is not fixed but can increase or decrease daily with purchases and redemptions of shares.
