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.
If youâre under age 50 and contributing to your 2012 IRA, the maximum you can contribute to your Traditional and Roth IRAs combined is $5,000. Unlike the past several years, that contribution limit is increasing for 2013 IRAs. In the coming year, taxpayers will see a $500 increase in the maximum contributions.