Rock And Roll Heaven by The Righteous Brothers. This talks about numerous music stars who died too young. First verse: Jimi gave us rainbows is Jimi Hendrix. Janis took a piece of our hearts is Janis Joplin. Otis took us all to the dock of the bay is Otis Redding. Remember Jim that way is Jim Morrison.
The idea is that even if you earn too much to contribute to a Roth IRA directly, you can open a Traditional nondeductible IRA and convert it to a Roth; there is no income limit on Traditional nondeductible IRAs or conversions.
Yes, you can contribute to both a traditional and Roth within the same calendar year, but the maximum IRA contribution limit allowed by the IRS is for the two combined, in total. Yes, you can roll over a Roth 401K into a Roth IRA, just like you can roll over a Traditional 401K to Traditional IRA. The 2016 and 2017 maximum Roth IRA contribution is $5,500. IRA maximum do increase over time, as they are indexed to the consumer price index (CPI) â a measure of inflation.