Question:
Hey Team, I live in the suburbs of Atlanta and drive a 2016 Toyota Corolla and have 2 cats. I drink Bud Light, Fireballs and Tennessee Whiskey. I recently opened a rollover IRA with Fidelity where I also have multiple brokerage accounts. I will be leaving my job of 25 years at some point in 2022. My question is, can I start contributing to the rollover IRA before doing the transfer of my 401k once my exit is official or do I need to wait until AFTER that transfer occurs? Also, I was planning on moving $7,000 into my wife’s IRA in January to max it out for the next calendar year. However, I was wondering if that violates any rules, being that she won’t actually earn that much income until March or so and also contributes to a 403b (meaning her retirement accounts will reflect more in contributions than her income for at least several months). Thank you and love your show! – Anonymous Fan

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