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Community: Investing Wiki

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withdrawal impact IRA: Original post by Craig Woodman of Demand Media A Roth IRA allows a taxpayer to set up a retirement plan independent of an employer. A person earning less then $167,000 per year in adjusted gross income as of 2011 is eligible to contribute a maximum of $5,000 per year ($6,000 if over age 59.5), with contributions phased out and eliminated with adjusted gross incomes of $177,000. Roth IRAs have…

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