Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: TBosh Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121333  
Subject: Roth Question Date: 12/29/1998 9:56 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
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?

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Ringing the NASDAQ Bell
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! 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.
Advertisement