For the Traditional IRA, the maximum age for contribution is 70 1/2, for the Roth IRA contributions may be made beyond age 70 1/2, so long as the individual still has earned income.

Qualifying for contributions to an IRA based on income has changed and varies by the type of IRA. See pages on Traditional, CESA, or Roth for more detailed information on each specific account type. See similar questions...

The University's programs are not designed for recent high school graduates. The programs are designed for mid-career adults who are capable of accepting a large measure of personal responsibility for their educational achievements. A recent survey of alumni of a nearby university indicated that the average age of the student body is 41 years old. In 2003, the University awarded a 92-year-old woman her degree. A lifetime dream became a reality. See similar questions...

For the Traditional and Roth IRAs and the CESAs, the contributions can be made up to the tax-filing deadline, generally April 15th. So even if your income is indefinite, you can still contribute up through tax deadline the following year. Telhio offers both free payroll deduction and direct deposit services to make contributing to your IRA on a regular basis easy and hassle-free. See similar questions...

There are rules regarding the minimum age for draft eligibility. A player can't play in the NBA unless he's been eligible for at least one draft (he doesn't have to actually be drafted, he just has to have been eligible). A player who is eligible for a draft must be at least 19 during the calendar year of that draft, and if a U.S. player, at least one year removed from high school. In addition, at least one of the following must be true: The player has graduated from a U.S. See similar questions...

If an IRA invests in collectibles, the amount invested is considered distributed in the year invested. The account owner may have to pay a 10% additional tax on early distributions. Check Publication 590, Individual Retirement Arrangements (IRAs), for more information on collectibles. Finally, IRA trustees are permitted to impose additional restrictions on investments. For example, because of administrative burdens, many IRA trustees do not permit IRA owners to invest IRA funds in real estate. See similar questions...

Start your RSP now. Contribute as much as you can afford, as soon as you can. Even modest regular contributions can build over the years into a significant retirement nest egg. Canada Revenue Agency makes it easy to know how much you can contribute to your RSPs each year. For your current year's limit, simply refer to your Notice of Assessment. See similar questions...

Yes. The IRS does prohibit certain transactions on Traditional IRAs. Examples include: borrowing money from your IRA, contributing over your annual limit, rolling funds over from another IRA after the sixty (60) days has expired, or forgetting to take an annual distribution after you have reached 70 ½. See similar questions...

The law also does not permit IRA funds to be invested in life insurance contracts. See Code section 408(m) for additional investment restrictions. Finally, IRA trustees are permitted to impose additional restrictions on investments. For example, because of administrative burdens, many IRA trustees do not permit IRA owners to invest IRA funds in real estate. IRA law does not prohibit investing in real estate, but trustees are not required to offer real estate as an option. See similar questions...