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My Roth IRA

January 20th, 2009 at 06:53 am

Okay so I have a question. If anyone has any advice I am completely open to ideas and thoughts, because right now I don't have a clue. Well, that's not true. I have a partial clue.

So if you look at my financial stats, I have not maxed out my 2008 contribution for my Roth IRA. But I am still able to make 2008 contributions until sometime in April. I can't remember the date from when I was a teller. Oops, but anyways until the beginning of April. Should I still continuing adding to 2008 or should I just start with 2009 since I'm not really close to maxing out 2008????

I didn't really get a chance to making more contributions to my Roth because of my lack of steady income this past year. But now I'm able to make some contributions.

I'm pretty sure I should just keeping adding to 2008 for as much as I can that way if by some miracle I earn some crazy amount of money later in the year I can still max out my 2009 contribution. I think.
Help!

5 Responses to “My Roth IRA”

  1. fruitbowlk Says:
    1232456336

    hey I'm in the same situation you are in and I'm going to make contributes up to April 15th. For 2008 I think that's the date.

  2. mooshocker Says:
    1232459123

    April 15th and YES, catch up 2008, then immediatley earmark for 2009. God bless.

  3. creditcardfree Says:
    1232467246

    I agree with the other two....keep going on 2008, until April 15th.

  4. monkeymama Says:
    1232469644

    Agreed.

    I always fund last year's as much as I Can. SO if we get some unexpected windfall we can maximize our tax deferred savings.

    Not funding 2008 is letting go of a potential tax break, if you ask me.

    All my contributions through April are going to 2008. Then to 2009 until April 2010, or until they are maxed. Whatever comes first!

  5. kel8585 Says:
    1232512309

    THANKS for the advice! Smile

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