D'oh; I indeed linked to the traditional IRA rules! >.< I believe those set of rules (re: what qualifies for contribution) are common to traditional and Roth IRAs.

I was indeed referring to the fees and taxes paid when withdrawing early from a Roth IRA. You're correct that the term" eliminates" is too strong (and inaccurate); "severely reduces" would have been more appropriate.

I will take (and honestly already have taken) to account your input! I'm meeting with my tax adviser shortly and will ask him to investigate this matter (though I'm fully contributed for this year).

Unless the Fiat's an Abarth, the Mazda for sure.

This is according to both my certified financial and tax advisers (one of whom used to write tax guides before Ernst & Young took over the market).

Correct, however contributions are not made at the time of tax reporting; they are made instantaneously. At no point is one allowed to contribute more than their current earnings to a Roth IRA for a given current tax year. Only if one earns $5,500 in January may they immediately contribute the maximum.

The maximum contribution is annual, however any contributions must be qualified, which is most often done through earnings. One cannot simply contribute money to a Roth IRA as they wish up to the maximum.

The rationale is such that if you have funds to contribute, then you've earned money; a majority of which would go towards expenses rather investments. Certainly not true in all cases (as you mention) but it works in general.

There's no such thing as a "statistically better" investment; each individual has their own investment goals like each product has their own investment purpose. A Roth IRA is for retirement investment, as its allows for long term tax-free income; that's the only reason to contribute to a Roth IRA.

According to the IRS and my tax adviser, you are mistaken; normal contributions (i.e. assuming no penalties) must be earned during the tax year. Wages from the previous tax year (i.e. savings from wages) may only be applied to that tax year (i.e. not the current tax year).

Early withdrawal from a Roth IRA eliminates any benefit; another product would be far better for such usage.

I suppose so.

This is horrible advice from an investment stand-point as it undermines the point of a Roth IRA (read: long term tax-free investment)! While a Roth IRA can be liquidated in case of emergency, that totally undermines any benefit provided by the Roth IRA. Contributions to a Roth IRA should be considered "permanent"…

Roth IRAs are intended for long-term investment; though liquid, they are not good a product for use as an emergency fund. With a Roth IRA, you should consider any money you contribute "locked away" until retirement (exceptional scenarios not withstanding).

You'd be better served by another product; the benefit of a Roth IRA is its tax-free growth, which provides no benefit if you "cash-out early."

Anywhere that you think is trustworthy (e.g. I use Merrill Lynch).

It's illegal to contribute the maximum amount immediately; any amount of contribution must first be earned through wages during the current year (I don't believe capital gains are included).

You may only contribute an amount equal to or less than you have earned in the tax year, up to the maximum of $5,500. Thus, if you earn $2,000 in January, you may contribute no more than $2,000 to your Roth IRA in February, $4,000 in March, and so on.

Only one Do 335 survives today and you can see it at the National Air and Space Museum annex outside of Dulles. Its an elegant monster, not unlike the A-10.

It doesn't look much worse than early variants of the P-51 Mustang.