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Mike and Wray are correct and offer some great information in their posts. Just to reiterate, yes you may contribute the max to both a Roth and a SIMPLE assuming you fall below the MAGI limit.Also, if you are married you might be able to open a spousal IRA/Roth for your spouse if you are under the aforementioned MAGI limits. Thus, even if your spouse isn't working you can open a Roth or traditional IRA and make a deductible contribution to his/her account. Assuming you fall below the phaseout limits and your spouse qualifies, you could contribute an additional $5K (deductible).

Financial institutions are required to obtain tax ID numbers when opening an account, and the fact that it's an IRA doesn't exempt them from that requirement. They shouldn't have opened it without the W-9 in the first place, but apparently they did. So now they had to close it until they get the required documentation.

It’s not an exaggeration to say that I’ve read nearly one thousand personal growth, business, and success books.Here are the best ones I’ve ever read that helped me build a 7-figure business in about 5 years.(If you want to checkout my full list of book recommendations for crushing life and kicking serious ass, you can find it here)1. The 50th Law by Robert GreeneBest-selling author Robert Greene and Curtis Jackson (aka 50 Cent) have joined forces to create what many call the Bible of Success.Based on the simple principle of fearing nothing, The 50th Law draws from Curtis Jackson’s experiences on the street and in the world of rap and hip hop, and shares the stories of many other prolific individuals to provide one of the most comprehensive and inspiring personal development books in the world.2. The Obstacle Is the Way by Ryan Holiday“The obstacle is the way. What is in the way becomes the way” ~Ryan HolidayThe apprentice of Robert Greene, Ryan Holiday has become one of the leading voices in the modern stoic movement. His book The Obstacle is the Way, lays out a simple and easy to understand translation of stoicism and it’s applications in the modern world.This book has garnered the attention of many A-list individuals including the “Governator” Arnold Schwarzenegger, LL Cool Jay, and James McGee, and has quickly become a cult classic in the world of personal growth. If you want a simple framework for living your best life, The Obstacle is the Way might be one of the most important books that you ever read.3. Scaling Up (Rockefeller Habits 2.0) by Verne HarshScaling Up has won more awards than most A-list actors that I know of. Also known as “The Rockefeller Habits 2.0”, this groundbreaking book is the most important book that you can read if you want to launch, build, and scale your business.Detailing everything from building your companies values to hiring & firing to marketing and sales, Scaling Up will provide you with everything you need to know to dominate your industry and build a business that will stand the test of time.4. Wealth Can’t Wait by David OsbornWritten by David Osborn and Paul Morriss, Wealth Can’t Wait gives readers access to a powerful set of wealth building tools to help them master the game of money, earn what they are worth, and generate enough passive income to cover their expenses… Forever.5. How to Get Rich by Felix DennisWritten by the late Felix Dennis (founder of Maxim), How to Get Rich, much as the pretentious title suggests, is a simple playbook for… How to get rich.Filled to the brim with actionable steps and entertaining anecdotes, How to Get Rich is possibly one of the most important books that any entrepreneur can read.6. Think and Grow Rich by Napoleon HillWidely considered the most important book for anyone who is looking to master their money mindset and take control of their financial life, Think and Grow Rich was written nearly 100 years ago but remains just as relevant and actionable as ever before.Author Napoleon Hill studied and interviewed countless moguls and billionaires and distilled their methods for success and fulfillment into this simple and powerful book.7. The 4-Hour Workweek by Tim FerrissWhile the title might be a little bit misleading, Tim Ferriss’s 4-Hour Work Week is the essential guide for anyone looking to ditch average, travel the world, and build a life and business on their terms.Whether you want to keep your job and simply enjoy more freedom or you want to build a business that can passively support your passions, it’s all here.8. Ready, Fire, Aim by Michael MastersonWhether you are still thinking about starting a new business or you’re trying to scale an existing one, Ready, Fire, Aim has everything you need to know to lead and succeed in your entrepreneurial endeavors.The self-made millionaire, best-selling author, and reluctant business guru Michael Masterson (a.k.a. Mark Ford) shares all of the knowledge that he has learned on his journey from $100,000 in debt to a net worth of more than $50,000,000.9. Secrets of the Millionaire Mind by T. Harv EkerT. Harv Eker went through the first 27 years of his life completely broke. As he shared during our podcast interview, he had always assumed that his lack of financial success was because he hadn’t found the right “Vehicle”. However, after a candid conversation with his father’s rich friend, he realized that the vehicle didn’t matter if the driver sucked.And so, he committed himself to the art and science of making money and within 2 years, he went from broke to millionaire. In his book, Secrets of the Millionaire Mind, he shared a simple formula for rewiring yourself for financial success and mastering your money blueprint. Largely considered the “Think and Grow Rich” of the 21st century, this book will give you everything you need to get master your subconscious mind and become a money-making machine.10. The Millionaire Fastlane by MJ DeMarcoIf you have already mastered your internal financial blueprint but lack the actionable steps required to take you from $0 to $1,000,000, then MJ DeMarco’s The Millionaire Fastlane, is a must-read.Spitting in the face of everything that you were told as a child, MJ destroys the age-old “Slow Lane” mentality of going to school, getting a safe secure job, and investing 10% in your IRA.Instead, he gives his readers and simple and actionable framework to get rich quick (but he sure as hell makes it clear that you won’t get rich easy).11. The Education of Millionaires by Michael EllsbergFor those of you who either chose not to attend college or felt cheated by the lackluster education that you received, this is the book for you.Michael Ellsberg interviewed dozens of millionaires and billionaires to fill in the gaps that our modern education leaves. He discusses everything from sales to marketing to self-knowledge in this powerhouse of a book.12. Be Obsessed or Be Average by Grant CardoneAt 27 years old, Grant Cardone was standing in line to claim his unemployment check. A few minutes later, his Uncle pulled him out of line and drove him to a local car dealership to start a new sales job. Only a few years later, Grant was a multimillionaire and expert sales coach. Today, his real estate and sales empire is worth more than $500 million and he is well on his way to a billion.In his book, Be Obsessed or Be Average, Grant lays everything bare and shows readers what it will really take to become a success in today’s world.13. Good to Great by Jim CollinsIn Good to Great, best-selling author Jim Collins researches and contrasts 28 companies over five years to uncover the difference between “good” and “great” companies. In this insightful and powerful expose, Jim,reveals everything you need to know to take your company, as the title of the book suggests, from good to great.If you found this content helpful, please leave an upvote, follow my profile, and leave a quick comment below. I am on a mission to serve 1,000,000+ Quora users with life changing content and I can only do it with your help!

A 401k and an IRA are both tax-advantaged accounts that incentivize saving/investing for retirement.  They both restrict withdrawals from the account in exchange for deferring or excluding taxes.  There are Traditional and Roth options for both accounts which is a different question altogether (I have an answer here for IRAs but it is applicable to 401ks as well: Alexander Yuan's answer to Individual Retirement Account (IRA): Is a Roth IRA better than a traditional IRA?).  If something is just labelled a 401k or IRA, it is assume to be a Traditional type account.The quick rundown of the differences are the following: you have more flexibility investing in an IRA, you have a higher contribution limit for a 401k, and your employer potentially matches contributions in your 401k (basically gives you free money in the account).  But let's go into some more detail.401kA 401k plan is an employer sponsored retirement plan.  Not all employers offer one, but many large companies do.  Most offer only a Traditional 401k, but there are some companies with Roth 401k options.  The employer chooses which type of account to offer and has it set up with a plan manager.  There are usually specific funds available for you to invest in within the account.  You usually just fill out a form to assign how much of your paycheck you would like to put into the account and how to divide it up into the different options.  There are some restrictions on withdrawing the money put into this account but you get tax benefits in return.  These restrictions and benefits depend on with type of contribution you make (Traditional vs Roth).  The annual contribution limit is fairly high (in 2015 it is $18,000 if you are under 50 years old, $24,000 if you are over 50).  The big advantage to contributing to your 401k is employer matching.  Your employer may match your contribution which means as you put money into the 401k, your employer will also give you money to put into the account.  For example, if your company has 100% matching up to 4% of your income and you make 100k annual salary, you can contribute 4k and your company will put in 4k. This effectively makes your annual salary 104k with 8k being paid to you through your 401k. If the company's matching was only 50%, they will put in 2k when you put in your 4k in the example above. However, the company matched amount usually vests over some period of time which means if you leave the company, you only get the amount you are vested in. For example, if your company has a vesting schedule of 4 years evenly distributed, then in the first example above with 100% matching, you would get claim to an additional 1k each year. You are also always 100% vested in your own contributions. So let's take that example and say you don't contribute anymore after the first year. If you leave after 3 years with the company, you would be entitled to 3k of the 4k match from your first year as well as your own 4k contribution plus whatever gains that 7k earned in the account.Individual Retirement Account (IRA)An IRA is an individual retirement account, meaning you will have to set it up yourself.  You will need to reach out to a broker (Charles Schwab, Fidelity, TD Ameritrade, etc.) to set up an account and you decide whether you want to open a Traditional or Roth type.  You manually move money into the account which has a smaller annual contribution limit ($5,500 in 2015, $6,500 if you are over 50) relative to the 401k.You get the same restrictions and tax benefits in the IRA for the same type of contribution (Traditional vs Roth), but there are income limits to making these contributions.  The main benefit of using an IRA is investment flexibility: you aren't restricted to the investments made in the account.  You can invest in individual stocks or mutual funds or index funds of your choice.

I live in Germany. I got an invite to the Quora partner program the day I landed in USA for a business trip. So from what I understand, irrespective of the number of views on your answers, there is some additional eligibility criteria for you to even get an email invite.If you read the terms of service, point 1 states:Eligibility. You must be located in the United States to participate in this Program. If you are a Quora employee, you are eligible to participate and earn up to a maximum of $200 USD a month. You also agree to be bound by the Platform Terms (https://www.quora.com/about/tos) as a condition of participation.Again, if you check the FAQ section:How can other people I know .participate?The program is invite-only at this time, but we intend to open it up to more people as time goes on.So my guess is that Quora is currently targeting people based out of USA, who are active on Quora, may or may not be answering questions frequently ( I have not answered questions frequently in the past year or so) and have a certain number of consistent answer views.Edit 1: Thanks to @Anita Scotch, I got to know that the Quora partner program is now available for other countries too. Copying Anuta’s comment here:If you reside in one of the Countries, The Quora Partner Program is active in, you are eligible to participate in the program.” ( I read more will be added, at some point, but here are the countries, currently eligible at this writing,) U.S., Japan, Germany, Spain, France, United Kingdom, Italy and Australia.11/14/2018Edit 2 : Here is the latest list of countries with 3 new additions eligible for the Quora Partner program:U.S., Japan, Germany, Spain, France, United Kingdom, Italy, Canada, Australia, Indonesia, India and Brazil.Thanks to Monoswita Rez for informing me about this update.

Make it compellingQuickly and clearly make these points:Who you are and why you are doing thisHow long it takesWhats in it for me -- why should someone help you by completing the surveyExample: "Please spend 3 minutes helping me make it easier to learn Mathematics. Answer 8 short questions for my eternal gratitude and (optional) credit on my research findings. Thank you SO MUCH for helping."Make it convenientKeep it shortShow up at the right place and time -- when people have the time and inclination to help. For example, when students are planning their schedules. Reward participationOffer gift cards, eBooks, study tips, or some other incentive for helping.Test and refineTest out different offers and even different question wording and ordering to learn which has the best response rate, then send more invitations to the offer with the highest response rate.Reward referralsIf offering a reward, increase it for referrals. Include a custom invite link that tracks referrals.

Welcome to the Stock Market!You are starting from scratch. Be humble and be ready to listen and learn. There are about 100 things to do and 100 things Not to do in stocks. The things not to do can be even more important than the things to do so be very cautious here. I'll give you a few pointers to set you on your way. Stocks, like other financial avenues, and the way we invest is arbitrary, which is to say, the system and method we use here is not a fixed science but more of an Art form, depending on factors like goals and personal preferences.Firstly, open your account at TD Ameritrade — it’s the best online broker for lots of reasons, but mostly because they have the most excellent 24/7 customer service and access to your account.Request check writing and open a margin type account. Non - margin accounts are Not eligible for trading. Put in the biggest check you can muster, possibly your whole paycheck or more to start. There is no minimum.You will select a stock next and buy shares. Have your TD broker go through placing a buy and sell order so you know how. Look and study at least 100 stocks and Buy only one. Buy the best and highest price stock you can. Don't invest in garbage. Do Not buy penny stocks. Contrary to popular belief Coke, Mcdonalds, Phillip Morris, Microsoft, AMZN , Apple and Netflix were never penny stocks. People did buy them for penny's per share only due to stock splits, but the stock shares were never lower than about $30.00 per share (a good minimum price stock for you to choose to buy).So now let's look at classic Pitfalls and Principles that top wise investor - traders all agree on and you will be on your way. I have carefully chosen 15 golden nuggets for you. Pay attention and learn.Pitfalls to avoid: (5)The law of diminishing returns: You need to understand that you can't trade blows with the market. You need to be accurate. You need to be correct about 70% of the time (or more) to be successful. You can't throw darts at a board. Even If you gain %50 on your first trade, if you lose 50% on your next, your account will look like this. 1: $10,000.00 to $15,000.00 2: $15,000.00 to $7,500.00 What ? Do this several times and your account will be on its way to oblivion.Don't buy garbage: Buy quality. Minimum share price can be $50 to $100 a share or more. Buy stocks that have allready proven themselves over a 10 year chart.Yes to Visa, see ?Yes to NFLX , see?No to rite aid, see?No to Wi pro, see ?The 10 year chart needs to go from bottom left to top right. Two of these stocks make money over time and two do not. See?3: Don't buy penny stocks: Penny stocks have something wrong with them. Don't invest in garbage because they are cheap. I'd rather you buy 1 share of AMZN than 400 shares of that crappy penny stock. penny stocks are stocks that are under $5.00 per share. They haven't proven themselves. Look at stocks like Apple, Philip Morris, AMZN, GOOG, PCLN or NFLX. They just go up and up! Penny stocks might be cheap but they lose money. Fact! Be smart.Would you put your hard earned money in this ? It doesn't look promising.4. Timing: Don't buy the peak and sell the dip: Most good stocks have a noticeable or deliberate dip (get In or buy) and they have a peak( sell or wait for it to dip before you buy in again). Often times ,when a stock swings up the novice investors are getting in and the big traders are selling. Don't be a chump.Can you trade this chart below?What if your life depended on it. Buy the dips and sell the peaks.What if you bought FB (Facebook) with each strong dip, how well would you be doing now ?5: Don't invest in ‘ideas or products you like’: I'm gonna save you lots of heart ache right here. Most stocks don't actually make money. Only the cream of the crop top - stocks have good share growth and give good return. There are so many reasons for this. Most businesses fail. There could be problems from the employee to the CEO that affect stock price. So instead of investing in a bright idea or a product you like, start with stocks that have a great 10 year chart - proving stock performance and buy only those.Yes to BUD (Budweiser)!Get great share growth and also add on a nice 3.25% dividend for icing on the cake. BUD is a great company. Fact!No to GM (General Motors). Even though GM does pay at 4.31% dividend, there is no share growth over 8 years. Fact! I was there in 2008 when GM stock went to Zero and long time investors lost their shirt! Fact! There is no room for a debate here. GM is a terrible company. I don't care if you like GM cars or even if the Cars are good. GM will Not give you share growth. It's not designed for that. I have already watched GM for the last 25 years so don't try to argue. Sry if you liked GM and I just hurt your feelings. I'm here to make money and to teach, not waste time so i'm showing you the real. The important thing is that you can see the chart and determine that one stock goes up and the other does not. Do this with all stocks you select.Principles that work: (10)Buy quality: Look at lots of stocks and buy only the best. If the stock price is high - all the better.You can't loose too much money on AMZN. How could you?2: Make often and consistent deposits: There is a common fallacy in the stock market. It's the belief that you can deposit $5,000.00 then trade that into millions. People think they are the next wolf of Wall Street. This is not responsible. The way you build your account into sizable respect is through often and consistent deposits and then your stocks performing exponentially. Most people actually lose money once they begin trading or investing (fact). Don't expect to make money right out of the gate. Commit 3–5 years into learning the stock market. It's not an easy endeavor.3: Timing: Buy the dips and sell the peaks: see Pitfall #4. Be patient for your quality stock to dip before buying. Be prepared to sell the peaks if you trade and not the other way around.4: Patience: With patience you can rule the market. I've mentored lots and I teach that I'd rather you bite your hand off than to make poor compulsive mistakes trading, not wait for the right time to trade, buy a penny stock, or buying crap. Practice patience in the market. It pays off.5: Put in the time and the dedication: Commit time to learn the market. Read up and or do seminars. Seek out a mentor who trades to show you the ropes and to avoid pitfalls. Start a journal to track and study your trades. Write neatly so you can have this lifetime resource to look over and to embolden you.6: Don't put your money to impossible earnings: I teach that greed is risk. Be careful. Be happy to eek out 20% return each year. You will beat the bankers. Only after you can do this consistently, will you deserve to make the: 10 fold, 20 fold and 30 fold returns over time. Lots of traders try to double their money or get 20% return only in one month. Lots of traders fail at this. Greed is risk. Don't get greedy. Plan on small but safe gains rather than risky aggressive huge gains. Review the law of diminishing returns.7: Put some money aside from your profitable trades: I knew a soybean trader that put everything into his trading account. He was talented and grew his account to over a million in only a few years. I got a call a while later - He went broke on only a few poor trades. He had nothing to show for all his years of work and for getting his account to a million. So with each winning trade ,I want you to take out 10% of the profit and put it into an IRA that you don't trade. Buy some silver coins or put some money into your kids college fund. Regardless, if you make some success over time always put some away, at least 10%. Have something to show for all your hard work. Don't be like that soybean trader and risk everything on your very next trade.8: Benefit from dividends: Consider a good dividend stock. Over time dividends add up. Most stocks pay every quarter (every 3 months ) per share but some stocks pay dividends every month.How would you like to earn 3.63% dividend each year plus great sharegrowth. PM is one of my all time favorite stocks.EMD is another one of my faves. Not much share growth but how would you like 7% dividend per year and it pays each and every month ? Do compound interest on that over the long haul.9: Benefit from stock splits: One of the most powerful tools I have learned other than covered call writing is stock splits. I have seen accounts go 30 fold over so many years and even more from stock splits. A stock splits and your shares double but then the price is halved. Then the magic happens and the stock climbs up to its original price over time. You just doubled your money! Take another stock split and then another. I have seen the same stock split 5–10 times over the years. Double your money ten times and see what you have. Get that 30 fold return on your account! The trick is that you don't know when a stock is going to split beforehand but only after, so invest in stocks that have lots of splits. That's the best way. By the way, penny stocks don't split (reverse stock splits don't count) stay away from those.10: Go long term: Here is another common fallacy - that people make money hand over fist weekly or monthly in the stock market. This is not the case. True wealth that lasts, takes decades to muster. Don't try to trade your account into fortunes in a short time. This is a pipe dream. Greed = Risk! - Instead learn to build your portfolios over time with dividends, stock splits , share growth and light trading only - if there is magic, it's right here (reread this sentence). The more you trade the more difficult it is. Be patient. Don't put your money to impossible earnings. Take some money off the table from your profitable trades. I do not advise day trading. It's super difficult. I do not advise trading call options. Your position can move to zero and fast. Steer clear of penny stocks. Don't be in it for the fast buck. It's so much more difficult. Be very selective. Save like its a religion- put consistent deposits into your stock market account. Look at 100 stocks before you choose 1. Go long term…easy!The gold is in long term share growth. NFLX multiplied its shares 14 times with only 2 stock splits (a 2 for 1 split in 2004 and a 7 for 1 split in 2015). Be prepared for more.I'm not talking to all of you. Most of you novice traders won't even understand this at all. Many experienced traders will disagree with my points here. So I'm talking to only the few of you inbetween. Be safe. Trade safely.Good luck! I just poured my heart out!Follow, message and upvote. I have more.