The way incomes are fairing, moreand more physicians may be eligible toopen a Roth IRA. The following is a listof facts regarding this investment vehicle.Check it out and decide if it's agood investment decision for you:
• Maximum contributions are limitedto $3000 per year ($6000 for marriedcouples filing jointly). Those over age 50can contribute an additional $500.
• Contributions are not deductible.
• Eligibility for a Roth is limited byincome, phasing out for singles at$110,000, and for married couples filingjointly at $160,000.
• Withdrawals are tax-free once youreach age 59 1/2, assuming the investmenthas been held for at least 5 years.
• Actively participating in a company'sretirement plan does not makeyou ineligible for a Roth IRA.
• You are not required to takemoney out when you reach age 70 1/2.
• You can open a Roth for your childor grandchild, as long as the person hasearned income.
• To qualify for a 2002 Roth, set upthe account by April 15, 2003.
• Visit www.rothira.com for info.