How Much Do You Remember? IRA Gift Card Contest Part 2

Good morning Women Supporting Women,

Happy Monday.  Here’s to a beautiful Easter and Passover season to you all.  It’s time to be out with the old and in with the new!  I hope you all had a great weekend!  I was fortunate enough to spend time with my son and give thanks to God for my new blessings that are coming my way.  It’s always good to reflect where you were and where you are going.  🙂

Last week, I wanted to give our fabulous Women the opportunity to win a $15 gift card by answering IRA questions and submitting your responses to my email.  With the holidays, I believe everyone may have been too busy, so we will do it again for this week.

Here are the questions from last week.  On you mark, get set, respond!

  1. What is an IRA?
  2. What is the contribution limit for an IRA in 2019 for a 40-year-old?
  3. What is the contribution limit for an IRA in 2019 for a 58-year-old?
  4. How much can you contribute into a 401K IRA for a 37-year-old?
  5. List the different types of IRAs?
  6. Give 2 reasons why someone would consider rolling of an IRA from a previous employer?
  7. What are Required Minimum Distributions (RMDs)?
  8. What age does one have to start their RMDs?
  9. What is tax deferred money?
  10. Which IRA is considered tax deferred money?
  11. Which IRA allows you to do withdrawals tax FREE?
  12. Is there a penalty for an early withdrawal?
  13. If so, what is the age?
  14. How long must one have an IRA open and how old must one be before they can withdraw without a penalty?
  15. What is the IRS penalty for early withdrawals?

Once you have answered the questions, please send an email to:

thefinancialcomforter@gmail.com

As always, thank you for participating.

Have a fantastic and blessed week.

Marsha

Changing the lives in our community….one family at a time

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