No, the IRA contribution limits are $5,500/year

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Sep 30, 2014
2:54:02pm

SFCougar

No, the IRA contribution limits are $5,500/year

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SFCougar

Bio page: SFCougar
Joined: Sep 4, 2007
Last login: Apr 25, 2024
Total posts: 450 (28 FO)

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Messages

Author

Time

401k options for unemployed or employed without 401k plan?

Indy Coug

9/30/14 2:49pm

1 -- SEP IRA, IRA, or SE 401k. 2 -- IRA

mulletino

9/30/14 2:50pm

For the SEP, the company still has to create it. For the SE 401, she'd have to

RyneK

9/30/14 2:51pm

Yeah, just threw out all options based on the little info provided.

mulletino

9/30/14 2:54pm

IRA, no?

prcoug

9/30/14 2:50pm

like an IRA?

9/30/14 2:50pm

Traditional IRA in both cases

RyneK

9/30/14 2:50pm

Let's take the absurd scenario where she has $50K to invest

Indy Coug

9/30/14 2:52pm

No, the IRA contribution limits are $5,500/year

SFCougar

9/30/14 2:54pm

So what are her options at that point?

Indy Coug

9/30/14 2:54pm

Invest the funds in a non-qualified account.

SFCougar

9/30/14 2:56pm

This is true. Lots of smart $ people on CB

Bronco Mendenhill

9/30/14 2:57pm

Not immediately. If she's under the age of 50

RyneK

9/30/14 2:55pm

This is correct. Key is earned income.

Bronco Mendenhill

9/30/14 2:53pm

Under both scenarios an IRA/Roth IRA is an option

SFCougar

9/30/14 2:52pm

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