Consolidating roth iras 10 rules for dating my son
1) Simplicity, when all of your money is in one place it is easier to manage, and there is only one account for you to pay attention to.
If it has enough options to achieve your investment strategy, then it may make sense to consolidate.
Contributions can be made into an IRA up to the due date of an individual's tax return.
For example, most taxpayers can make 2011 IRA contributions up through April 15, 2012.
Amounts in your IRA, including earnings, generally are not taxed until distributed to you. However, any amounts remaining in your IRA upon your death can be paid to your beneficiary or beneficiaries.
ICI (Investment Company Institute) reports that at year end 2016, Traditional IRA's held an estimated .695 trillion of investor's wealth accounting for 85% of total IRA assets, An individual can contribute to a Traditional IRA up to the year one reaches 70 1/2.