No. of Recommendations: 0
The youngest only earned $1200 in 2006. The fund I want to send it to has a minimum of $1500. Can we contribute the $1500 even tho she didn't make that much?

Well, you can only contribute $1200 for 2006, no more. However, if she's working in 2007 as well, you could contribute $1200 for 2006, and $300 for 2007 (so long as you're sure she'll make that much (or, preferably, already has) ).

If that's not the case, it'd be a good idea to fund the Roth anyway and just leave it in a Money Market Fund until you can add more. That way it'll be ready to go eventually, and tax free.
Print the post  

Announcements

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!
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 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.
Advertisement