Although I’ve achieved this goal a lot later in the program than I’d like, I managed to max out both my wife and I’s Roth IRA’s for 2009… in the nick of time.

With a kid romping around and daycare chewing up the extra cash, it will be much more difficult to fund all $10,000 for 2010, but I’m gonna try.

What bugs me now is that I’ve got money sitting on the sidelines.  It bugs me because I want it to be working for me, but I’m not sure where to put it to work.  I’m still overweight in a few stocks that I’m paring out of gradually, which is where a bulk of the idle money is coming from.

I’m still thinking interest rates are going to be on the rise, along with taxes…

Another subject I’d rather not think about now.

Investing, Saving Roth IRA, Saving

So I’ve set a goal to contribute the maximum amount possible to Roth IRA’s for both my wife and I, totaling $10,000 a year.

Well, I’m happy to say that I’ve completed half of that goal, and my Wife’s Roth IRA is maxed out for 2009, and I only have another $1,500 to go for my own account.

For the most part, the money has been sitting in the account waiting for action, and with this tumultuous market it’s tough to say where it should be put to work.  The first few trading days of October have me a bit miffed, and I’m wondering if the downward slide in the market will continue.

The next few days will be very telling.

Finance, Investing, Retirement, Saving Retirement, Roth IRA

Last week I made my final contribution to my Roth IRA for 2008. So we’ve contributed all we can to both my wife and I’s personal retirement accounts.  This is on top of our individual company sponsored retirement plans.

I’m happy to say that we’ve managed to fulfill this goal about 6 months early this year, which gives us time to start saving for next years $10,000+ contribution limits.

(Starting in 2009, the Roth IRA contribution limits will be indexed to inflation.)

So now I have to figure out where to stash the money for the next six months.  I’m leaning towards the Emigrant Direct account, since they increased the APY to 3%.

Finance, Goals, Retirement, Saving Emigrant Direct, Roth IRA