No. of Recommendations: 0
MountainKing asks:

<<The question I have for the audience is suppose John is going to earn say $2,000 at least upon graduation.
Could he with that intention invest the $2,000 now?>>

Yep. As long as the tax-year ends with at least $2K of reportable earned income for tax purposes, then the $2K may be contributed to the IRA at any time during that tax-year.


Please confirm...You are saying that John can open an Roth IRA in January with $2000,so long as he has earned that money by December 31 of the same year he opens the IRA? If so, I'm in shock. This is kind of like "borrowing from the future". I certainly don't doubt you. I'm just shocked that it is permissible.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.