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Finance Test Questions and Answers- ROTH IRA AND TRADITIONAL IRA

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Finance Test Questions and Answers- ROTH IRA AND TRADITIONAL IRA

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Finance Test Questions and Answers-
ROTH IRA AND TRADITIONAL IRA


How old do you have to be to contribute to traditional IRA? - Answer-18 years old



At what age do you stop contributing to a Traditional IRA? - Answer-70 1/2 years old



What age must you withdrawal from a Traditional IRA? - Answer-70 1/2 years old.



Does a Roth IRA have age restrictions? - Answer-No they do not



Can a Roth Ira be passed to kids? - Answer-yes



Happens if you do not have a Roth Ira and you did not leave money to an heir? - Answer-It would go
back to the government.



Does a Roth IRA have an income restriction? - Answer-yes single people who make up to $135,000 can
contribute



Does a Traditional IRA have income restrictions? - Answer-No

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