UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Next Thread
Author: peterreb Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76419  
Subject: Roth Contribution Date: 6/21/2004 11:34 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I am eligible to put $3,000 into a Roth IRA this year and intend to do so.

Question: Do these contributions need to be made in a lump sum? Or could I make, say, a $1,500 contribution today and a second $1,500 contribution in three months?

Pete
Print the post Back To Top
Author: IndecisiveFool Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41257 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 11:43 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Question: Do these contributions need to be made in a lump sum? Or could I make, say, a $1,500 contribution today and a second $1,500 contribution in three months?

You can contribute in any increments that the financial institution that administers your IRA allows.

IF


Print the post Back To Top
Author: ImAGolfer Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41259 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 1:00 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
Question: Do these contributions need to be made in a lump sum? Or could I make, say, a $1,500 contribution today and a second $1,500 contribution in three months?

Pete


Hey Pete. When I used to contribute to my IRA I made monthly contributions of $166.66. I would think you can slice and dice your contributions any way you want as long as the IRA custodian can handle it.

Good luck,
ImAGolfer


Print the post Back To Top
Author: Fuskie Big funky green star, 20000 posts Top Favorite Fools Old School Fool Ticker Guide SC1 Red Winner of the 2010 Rule Breakers Challenge Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41260 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 1:16 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
One key factor may be whether your account has a cash or money market account where you can park contributions until you have sufficient funds to make your purchase. Most mutual funds have minimum purchase amounts, and ideally transaction costs should only be 2% of total investment expenses, which may not work well with lower monthly contributions.

Fuskie
Who thinks you can also make your monthly or bi-weekly contributions into an ING Direct Orange Savings account until you reach the desired level to move it into RIRA and make your desired fund or equity purchases...

Print the post Back To Top
Author: FoolishMicheal Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41261 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 1:17 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Pete,

I am eligible to put $3,000 into a Roth IRA this year and intend to do so.
Question: Do these contributions need to be made in a lump sum? Or could I make, say, a $1,500 contribution today and a second $1,500 contribution in three months?


Unless the IRS changes the rules before then, you have until April 15, 2005 to make your full 2004 IRA contribution.

Mike

Print the post Back To Top
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41262 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 1:25 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 5
Mike sez,

Unless the IRS changes the rules before then, you have until April 15, 2005 to make your full 2004 IRA contribution.

You have the wrong culprit. Congress makes the rules and the IRS merely interprets and implements them. Otherwise, your statement is entirely correct. <vbg>

Regards...Pixy


Print the post Back To Top
Author: FoolishMicheal Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41263 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 1:33 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Pixy,

I knew that, yeah... :)

Mike

Print the post Back To Top
Author: MadCapitalist Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41264 of 76419
Subject: Re: Roth Contribution Date: 6/21/2004 3:14 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Mike sez,

Unless the IRS changes the rules before then, you have until April 15, 2005 to make your full 2004 IRA contribution.


You have the wrong culprit. Congress makes the rules and the IRS merely interprets and implements them. Otherwise, your statement is entirely correct. <vbg>


Well, actually both Congress and the IRS make the rules. Congress makes the laws, but the IRS makes regulations. I think they can both be considered "rules."

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Next Thread
Advertisement