Question: I’m 67, employed and planning on maxing out my 2020 IRA contribution. Can I make a $7,000 2020 IRA contribution for my 77 year old unemployed husband too? I checked with both my financial advisor and CPA and there is a disagreement on his eligibility.
Lynda, Coronado
Schedule a free assessment with any one of our CFP® professionals, either online or at one of our financial planning offices in San Diego, Brea, Irvine, and Woodland Hills, California: http://bit.ly/PureAssessment
Subscribe to our YouTube channel and stay tuned for the next episode of the Your Money, Your Wealth® TV show: http://bit.ly/YMYW-YouTube
Subscribe to the YourMoney, Your Wealth® podcast: https://link.chtbl.com/ymyw?sid=y
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
0 Comments