I was eligible to set up a Roth IRA this year and so a few weeks ago I set up a new account with the $2K max contribution.I'm still trying to decide how to invest the $2K rather than letting it sit in a Money Market fund. Since the $2K seems like a paltry amount to buy stocks with - without incurring an excess contribution penalty -and considering that my 1999 status is not likely to change with respect to my Roth eligibility - does it stand to reason that in a few days when 1999 rolls around - I'll be eligible to add another $2K to the account for 1999? The bottom line here is that at least with a $4K balance I might be able to actually do something with the money.Also, if I did this, then I could not add another $2K (assuming eligibility status remains the same) until 1/1/2000?Thanks!PS/as an aside - one of the more popular financial gurus has said that he is not in favor of Roth IRAs - he doesn't think that over the long run - the Govermment will be able to keep its promise not to tax the distributions. Any thoughts or prognostications?
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Mornings