Statements (54)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:computer
|
| gptkbp:bfsLayer |
4
|
| gptkbp:bfsParent |
gptkb:IRA
|
| gptkbp:age |
Withdrawals can begin at age 59½
|
| gptkbp:benefits |
Tax benefits for retirement savings
|
| gptkbp:cancellation_reason |
Disability
Medical expenses First-time home purchase Qualified education expenses Health insurance premiums during unemployment |
| gptkbp:contribution |
No age limit for contributions
April 15 of the following year Individuals with earned income Allowed if income exceeds limits Earned income only |
| gptkbp:directed_by |
Can be self-directed
|
| gptkbp:distribution |
Age 72
|
| gptkbp:financial_products |
Offered by banks and brokerage firms
Requires understanding of tax implications |
| gptkbp:form |
gptkb:Form_1040
Form 5498 |
| gptkbp:future_plans |
Helps achieve financial goals for retirement
|
| https://www.w3.org/2000/01/rdf-schema#label |
Traditional IRA
|
| gptkbp:investment |
gptkb:Casino
Stocks Mutual funds Market risk Inflation risk Long-term investment strategy ET Fs |
| gptkbp:legal_issue |
Certain transactions are prohibited
|
| gptkbp:median_household_income |
Phase-out for high earners
|
| gptkbp:mentor |
Often recommended by financial advisors
|
| gptkbp:migration |
Can transfer to another IRA
|
| gptkbp:primary_user |
Requires account management and monitoring
|
| gptkbp:receives_funding_from |
$6,000
$7,000 (if age 50 or older) Can designate beneficiaries |
| gptkbp:reform |
Taxable event
|
| gptkbp:regulatory_compliance |
Subject to IRS regulations
|
| gptkbp:replaced_by |
Annuity payments
Lump-sum withdrawal Periodic withdrawals |
| gptkbp:requires |
Must be held by a qualified custodian
|
| gptkbp:retirement_year |
Important for retirement planning
|
| gptkbp:revenue |
Ordinary income tax
|
| gptkbp:roll_rate |
Can be rolled over to a Roth IRA
|
| gptkbp:rules |
All IR As counted for contribution limits
|
| gptkbp:spouse |
Can be established for a non-working spouse
|
| gptkbp:state |
Varies by state
|
| gptkbp:transfer_fee |
10% penalty for early withdrawal
|
| gptkbp:type |
Retirement savings account
|
| gptkbp:type_of |
Tax-deferred growth
Tax-deductible contributions |