. >> are there income limits that apply to the ability to use a roth ira or a roth 401(k)?> roth ira yes, there are income limits. as long as your employer offers that, can you take advantage. >> what is the focus that we need to think about when we get to our 40s? i'm listening carefully. this is me here. >> by the time we get to our 40s, we may have changed jobs a few time. >> that's common. >> people tend to leave the balances behind with their former employee. we suggest consolidating with your existing employer's plan or even an ira rollover. makes things much more easier to monitor. and much easier to achieve your goals. >> and the 50s and beyond which is my demographic, there are catchup provisions for roths and standard iras. what are they? >> so for iras, it's an extra $1,000 for 6500, for 401(k), it's $6,000. >> so take advantage of the catchup if you can. >> yes. >> matt, thank you very much. >> thank you. >> good to be with you. >> that will do it for the first hour. we're going to start to save now. >> yeah. we'll have to put a little money away. >> of course.

and finally, a roth ira. they can be opened in a child' s name once they start earning income. they can be accessed once the child turns 18 but not without penalties, so they can be saved beyond college years. emily: an omelet made without a pan. erika: and quite possibly the worst traffic jam ever. it' s ahead in eyepoppers. then, new at 6:30, commuters demanding better ways to get around boston. the transportation changes they want from the city. emily: and presidential candidate ben carson, raising eyebrows with his latest gun control comments. his comparison to the holocaust, >> we are here to raise money for cancer. >> a good morning, eyeopener. >> energy and enthusiasm from the crowd. this event raises money for the leukemia and lynn phony -- leukemia society. they raised more than $1 million this year. an incredible achievement and a great night there. >> great work with the fund raising. a pretty idea. it is something different. cindy, talking about rain. cindy: it comes in later this afternoon and into this evening. 4:00 to 8:00 the greatest risk time for showers. turn

both traditional and roth ira contribution limits remain the same for 2016. it's $5,500 a year.you are over 50 an additional $1,000 a year. got to go do it, guys. i know it's a lot of work to go through all these benefits but it could add up to a lot of money. >> thank you, jill schlesinger. >>> now at 19 minutes before 6:00, gone in 60 seconds. cameras are rolling as thieves storm a california jewelry store and snatch everything in sight. >> lots take a live look at -- let's take a live look at 880 in oakland where the cars are stacking up. liza will be back with the traffic report and roberta will have the forecast. we'll be right back. ,,,,,, in a remote village lived raymond. his internal clock was off, so he'd wake people for breakfast at all hours. while most were annoyed by raymond, one man was inspired. to serve breakfast all day with freshly cracked egg, ham, grilled bacon and savory sausage. the loaded breakfast sandwich. >>> at 5:43 on this thursday morning, photojournalist max cabrera outdoing himself this morning with the view of the ferry building all dressed up th

and it's on a roth ira basis which means the money that you put in yourself you can withdraw without and so that makes it a nice opportunity for people who want, you know, a basic account of up to $15,000 to deal with these shocks, to have something that is earning a good, safe return but that they can withdraw at least their own contributions at any time for those crises. don't think that's an answer to the retirement security crisis writ large, but it's a partial answer to the other major problem that you've raised. >> so i think that, you know, i don't have kind of a silver bullet for exactly how you delineate, you know, what's a proper hardship expense, but what's striking is many of the withdrawals people make currently in the u.s. don't happen because there's some crisis and we're trying to decide whether it's actually a crisis or not, but they happen almost by accident. so the default on loans, i think, is the best example. i mentioned that briefly, but let me go through that in more detail. you can take a loan from your 401(k), and you have some period to pay it back, and tha

and it's on a roth ira basis which which means the money that you put in yourself you can withdraw withoutenalty. and so that makes it a nice opportunity for people who want, you know, a basic account of up to $15,000 to deal with these shocks to have something that is earning a good, safe return but that they can withdraw at least their own contributions at any time for those crises. don't think that's the answer to the retirement security crisis writ large, but it's a partial answer to the other major problem that you've raised. >> so i think that, you know, i don't have kind of a silver bullet for exactly how you delineate, you know, what's a proper hardship expense, but i think what's striking is many of the withdrawals that people make currently in the u.s. don't happen because there's some crisis and then we're trying to decide whether it's actually a crisis or not to, but they happen almost by accident. so the default on loans, i think, is the best example. i mentioned that briefly, but let me go through that in more detail. you can take a loan from your 401(k), and then you have so

t it's set up like a roth ira. if you have an emergency and need to tap your money, you can, but hopefully, you won't. it's a very attractive product. we've tested it over a period of time with a limited pilot group of companies. and it works very well. and we're looking at some ways to expand it to make it easier for people to sign up. and it's going to be an area that we put a lot of effort into in the coming year because getting people to start saving is the key. once people start, they tend to continue. but starting at the beginning of your career or you know, early in the middle of your career makes a big difference and we know that starting with small amounts makes a difference. so, it's not that people have to put aside an amount of money that is putting a real crimp in their ability to meet their current expenses. even small amounts, some ira, you can put $5 a pay period away. obviously, the more you put away, the more you're going to save, but the critical thing is to get started and i think it's a great i

they're roth iras some you can rolled them over but one important design feature was ensuring that we we are filling a hole and complimenting the existing system, not in any way undermining the existing 401(k) system or ira system thatten, when done well-win one right, when done with best practicessestest actually serving people well. >> very thank you very much, karen. we're done for the morning weap at the united nations, anded establish the idc, was in the first of the president of the icc. currently the head of -- head director of publicity for the swiss foreign minister. catherine has done a tremendous anunt of work and was advisor. within the office of the general council at the cia at the start of her career. she is currently involved in so many international discussions i won't even list them. colonel gary brown to the left, the ambassador, is currently a security of cyber the marine corps university in quantico. thank you for joining us. prior to that, he was in the icrc in the washington office. he has been an advocate for cyber command and other military commands. there he

from tax perspective these accounts are roth iras so they are used used after tax dollars and therefore can be withdrawn without penalty, whenever one looked like you and interest accrued tax free until the withdrawal. this year treasury worked with a small diverse group of employers as part of the pilot phase to get feedback and ensure the user experience is a simple and straightforward as possible. we are looking forward to promoting my ira more broadly to learn about the program by visiting my ra .gov. i wonder if none of these policy options alone can entirely solve the problem of inadequate savings by household. however in each can make a difference and it together, they can make a significant difference of the total amount of savings available for investments in this country. and a significant difference in the financial security of many households. thank you and i look forward to taking your questions. [applause] >> opening up to questions from the audience i will go to the first question. how does the promotion at the federal level interact with interests from the administration

they're roth iras some you can rolled them over but one important design feature was ensuring that we we are filling a hole and complimenting the existing system, not in any way undermining the existing 401(k) system or ira system thatten, when done well-win one right, when done with best practicessestest actually serving people well. >> very thank you very much, karen. we're done for the morning weapon appreciate you coming over from treasury. thank you very much. >> thank you. >> every weekend, the c-span2 -- c-span network feature programs on books and american history. saturday night, politics and internet experts on whether social media hurts politics, and its effects on campaign 2016. and sunday evening at 6:30, texas legislators and other officials look at the hispanic vote in the 2016 and 2018 elections. and saturday, on c-span 2's booktv, starting at noon eastern, it's the 27th annual southern festival of books in narkville, featuring nonvisitation author presentations, including chris tine green on the community's reaction to the brown vs. board education ruling, and wendell

roth, should i have the money in the index fund or stocks or both? stocks my friend. let's be very clear. that's no the case with 401(k) which is like the ira much more. next @hall g thaw, jim, i watch you daily for over ten years. daily, you're awesome. you have helped massive amounts of people, thank you. i can't tell you there are some many who apologize that they want to tell me that they like the show. excuse me, jim, i don't want to bother you i like the show. when you say excuse me, i think you're saying boom. no, don't excuse yourself. i'm thrilled that you say you like the show. it means the world to me. i sometimes figure what the heck do i come out here every night for other than the fact you like it. @clear baffles tweets -- clear baffles? at obfuscate. tweets the follow, please discuss the balance between adding to a position and the same apply to etfs #get a plan. what i do as the stock goes down, i buy. as the stock goes up i like to sell the higher basis. i run a charitable trust so i don't have to worry about the taxes -- what i'm trying to do is lower my basis as an owner. why do i want to lower my basis? because i don't l