The Future of Roth-IRAs

D

DataCruncher

so I'm looking at www.rothira.com and right at the top it says:


Will 2008 be the last year for Roth IRAs? Major income tax changes are highly likely in 2009. Since Roth IRAs have never been popular with Democrat party politicians, 2008 may be your last chance to set up a Roth IRA and to reap its benefits with tax-free growth. We will monitor tax proposals as they are released and publicize them here. (10/30/08).



What kind of sweeping changes, if any, do you think will happen?

One problem for full-time traders is they can only contribute up to the amount of earned income (W-2) that they made that year.
 
Quote from CET:

I think the concern is that new Roth IRAs will not be allowed if the Dems get their way.
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Will people be able to continue to add contributions to existing ROTH-IRAs? I know that nothing is set in stone but I'm wondering what the latest news/speculation is. After all the talk about wanting to get the public to save more, it seems strange that they would want to alter the very popular Roth-IRA vehicle.
 
If you make a 2008 Roth contribution today, is there any deadline if you want to take the contribution out in the future without any penalties/tax consequences? I think you can take out the contributions anytime in the future, as long as you don't touch any earnings which occurred in your Roth account.


Is this correct regarding taking out a 2008 contribution? Or is there a deadline of 60 days, or a deadline on 10/15/09 or something like that?
 
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