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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?


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?

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