Roth IRA
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| Definition | You prefer to invest on your own, directly managing your money and making all investment decisions. | You prefer to invest with guidance from our team of financial advisors who can offer a holistic view of your financial situation | |
| Advice & Planning |
Online tools, calculators and extensive research are available to help you with invest with confidence. | Our team of financial advisors will consult with you over the phone and offer personalized advice tailored for your unique needs. | |
| Accounts | All account types with the exception of 529 Accounts. | All account types | |
| Investments | All investment choices | All investment choices | |
| Pricing | No annual fees are applied to your accounts. Trades can be executed for as little as $0, depending on your investment level and account you hold. Please see pricing guide for full details. |
Fees and commisions are based on your account types and relationship with Merrill Lynch. Please set up a consultation to learn more |
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| Open an Account | Schedule a Consultation | ||
Benefit from tax-advantaged growth
- Any earnings are tax-free withdrawn after age 591/2 and the account has been open fire years of more1
- Your contributions (not earnings) can be withdrawn tax and penalty-free at any time.
- No required minimum distribution (RMD) at age 701/2
Maximize contributions
- If you are under age 50 you can contribute $5000 for 2009
- If you are age 50 or older you can make an additional $1000 “catch up” contribution each year.
Determine your eligibility
Anyone, as long as your modified Adjusted Gross Income (AGI) does not exceed:
| 2009 Limits | |
| Single Tax Filers | $120,000 |
| Joint Tax Filers | $176,000 |
- Account Owner must have earned income equal to or greater than their IRA contribution amount
- If you contribute to an employer-sponsored plan like a 401(k) or 403(b), you are still eligible to open a Roth IRA as long as you meet the eligibility requirements above.
- If you have no earned income but your spouse earns enough income to cover your contribution as well as their own, and their income (AGI) does not exceed the limits above, you can contribute to a Roth IRA
- See the Roth Contribution Chart for more details
If your Modified Adjusted Gross Income and filing status is: |
Your Maximum Contribution can be: |
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Single Filers |
Married Filing Jointly |
Under Age 50 |
Age 50 and Over |
| Less than $105,000 | Less then $167,000 | $5,000 | $6,000 |
| $106,500 | $168,000 | $4,500 | $5,400 |
| $108,000 | $169,000 | $4,000 | $4,800 |
| $109,500 | $170,000 | $3,500 | $4,200 |
| $111,000 | $171,000 | $3,000 | $3,600 |
| $112,500 | $172,000 | $2,500 | $3,000 |
| $1114,000 | $173,000 | $2,000 | $2,400 |
| $115,500 | $174,000 | $1,500 | $1,800 |
| $117,000 | $175,000 | $1,000 | $1,200 |
| $118,500 | $176,000 | $500 | $600 |
| $120,000 & over | $177,000 & over | $0 | $0 |
