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No amount until you reach 70 1/2 (for traditional IRA, sep, simple, etc) has to be taken. Then a RMD would have to be taken which is a calculation based on the PFMV of the account(s) on 12/31 of previous year and an age factor based on your age, Roth account don't have to ever take funds from them.
Yes, although he may need his parents help in opening an account. I suggest an IRA. A Roth IRA or Traditional IRA, get advice when you are opening it up. Most banks have a financial advisor who will answer questions for free when opening an account. Start putting money into it monthly, the earlier you start, the better off you will be by the time you retire. It is wonderful for a kid that young to even think about the future when most kids don't care until it is too late. It is very important to start saving / investing as early as possible in life because of the power of compounding. Check out the www.saferchild.org website for a great explanation / example of what I mean by this.
The IRS gives investors a pretty good deal with IRAs. The IRS will let you defer taxes on anything you put into an IRA but at some point they're going to want their money. That's why they created the minimum required distribution. Based on your age and the balance in your accounts, there is a minimum amount that needs to be withdrawn from your IRA every year once you reach age 70 ½. Otherwise, you'll incur a penalty. The rules around calculating your minimum required distribution can get a little hairy so if you're unsure or need a little help you might want to consult an accountant. If you're ready to tackle it yourself, read on. First, to calculate your RMD you'll need to consider that balance in ALL of your IRA accounts for the end of the previous year. For example, if you're calculating your minimum distribution for 2011, you'll need to look at the total IRA balance as of the end of 2010. The IRS doesn't care about individual accounts; just all the money you have under the IRA umbrella. Second, grab a copy of IRS Publication 590. This will give you the government's life expectancy tables. You'll need to know – for IRA distribution purposes at least – how long the government expects you to live. Now, you're ready to calculate. Take your total IRA balance at the end of the previous year and divide it by your life expectancy. As an example, if you have a total balance of $1 million dollars and you have a life expectancy of 17.4 years, your minimum required distribution will be $57,471. Next year, you'll do it all over again with a new balance number and a new life expectancy. Keep in mind that minimum required distributions do not apply for Roth IRA accounts. Generally speaking, you'll need to make a required minimum distribution from all other retirement accounts.
Dieter Roth died on 1998-06-05.
The Roth IRA was named after Senator William Roth of Delaware. They were introduced in 1998.
1998 in Germany
The cast of Zu - 1998 includes: Fritz Roth
The cast of Dieter Roth - 2003 includes: Dorothy Iannone as herself Hermann Nitsch as himself Arnulf Rainer as himself Dieter Roth as himself Oddur Roth as himself Jan Voss as himself Emmett Williams as himself
The cast of Arrebatos - 1998 includes: Will More Eusebio Poncela Cecilia Roth
American Pastoral, by Philip Roth
The cast of The Many Monsters of Sarah Roth - 2010 includes: Rachel Flink as Friend Julie Granata as The Monster Eric Hunicutt as TV voice Eytan Lasca as Father Kaylee Williams as Sarah Roth
Philip Roth won the 1998 Pulitzer Prize in fiction for his novel, American Pastoral (Houghton Mifflin).
Daniel Enzweiler has: Played Dr. Diederich in "Rosa Roth" in 1994. Performed in "Rosa Roth" in 1994. Played Kommissar Rudolph in "Schloss Einstein" in 1998. Played Gregor Haller in "Schloss Einstein" in 1998. Performed in "Einfach raus" in 1999.
Abe Roth's birth name is Abraham Roth.