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URL:  http://boards.fool.com/i-just-noticed-that-if-you-make-over-a-certain-23898719.aspx

Subject:  Re: Convince me to put money into a ROTH Date:  3/28/2006  7:36 PM
Author:  Dullchisel Number:  50768 of 76418


I just noticed that if you make over a certain amount of money that you are ineligible for ROTH accounts. I do not currently, but plan on making more money that allowed for a ROTH account. Would it be foolish to invest now if I will not be allowed to contribute within a couple of years?


I think it is worth it. You can contribute up to $4K for 2005 up until April 17. Then $5k a year until you are ineligible. So, if you can contribute for a couple more years, that would be $14k. If it then just sits there and grows for 30 or 40 years, it would be better than a jab in the eye with a sharp stick by far.

Personally, I wish I had realized I could have Roths before now. I am retiring Friday, but my wife will work for at least 3 more years. As it works out, we can both contribute based on her wages and I intend to do so for 05, 06, 07, 08 and 09. That'll put in about $50k between us. I will then let it grow and not touch it unless needed. It'll be a pretty good chunk of change in 20 years. Tax free. Kind of a safety net.

It works for me. To each his own.

You'll probably get some more responses from the Fools around here with more experience. See what they come up with.

DC

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