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Roth IRA
This is a quick question: if I open a Roth IRA are there any rules where I have to contribute every year? The most one can add to it every year is $6000, but what if I added $1000 one year and then never again? Is that possible? Thanks for the help!
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J
No, you don't have to contribute into a Roth IRA or IRA annually. You could probably even open one with $0 and leave it open as is.
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T
There is no requirement to contribute. But if you open one, don't forget to invest the money you do contribute. The financial company you open the account with may also have some limits and restrictions so be aware of them. For instance they may close your account that has a $0 balance for some period of time or something along those lines.
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@Todd195 Nice good stuff.
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