Roth IRA fully funded: 1 month early
November 28th, 2007 by Grant in: Investing
The annual funding limit for a Roth IRA is $4,000 per individual account annually. The IRS provided an extension, in effect the cut off date was the date your taxes were due, so you were given an extra couple months.
My goal for last year was to fund by my wife and I’s Roth IRA by year end. Calendar year end, that is.
Typically I’d probably stretch that out in light of having some extra funds on hand for Christmas shopping. However, with the current state of the stock market as it is, it troubled me that we were both out of cash for investing.
I believe that we’ll see some good companies trading at deep discounts this holiday season, and it’s good to have some powder left to take advantage of those opportunities.
So, I’ve met my goal, and now it’s time to go find the next buy-it and forget-it stock!
Tags: Roth IRA
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