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2016 Postmortem

GoCubsGo

(32,080 posts)

4. Yes. It is possible.

Reply to dmosh42 (Original post)

Fri Jul 6, 2012, 10:05 AM

Jul 2012

The limit is something like $3000 per year, although one can put in more. But, one would have to pay an "excess contribution " tax of 6% per year. Unless his IRA is earning way more that 6%, I can't see how it would be worth it to him to stick that kind of money in an IRA.

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Highlight:

On MSNBC talk show in pm, Romney has 105 million in an IRA! Is it possible? [View all] dmosh42 Jul 2012 OP

It's his rainy century fund BeyondGeography Jul 2012 #1

DUZY!! nt K8-EEE Jul 2012 #9

LOL Cali_Democrat Jul 2012 #10

it does seem impossible even if he was Warren Buffet Schema Thing Jul 2012 #2

I believe it was on Martin Bashir show.(Guy who was moved to Rattigan's slot) dmosh42 Jul 2012 #7

Yes - tricky, but it's legal. AND only if you're RICH RICH RICH 66 dmhlt Jul 2012 #3

Ok, didn't realize he could do that with shares from the "Bain looting"! Thanks dmosh42 Jul 2012 #8

Yes. It is possible. GoCubsGo Jul 2012 #4

If you have a 401K you can move the money to an IRA kimbutgar Jul 2012 #5

When will the media discover that Romney has a huge money vault just like Scrooge McDuck FSogol Jul 2012 #6

$100 million trust fund Rosanna Lopez Jul 2012 #11

Thom Hartmann and Victoria Jones are discussing this right now aint_no_life_nowhere Jul 2012 #12

Read the Vanity Fair article posted elsewhere...VERY interesting stuff... truebrit71 Jul 2012 #13

Not legally. HopeHoops Jul 2012 #14