No. of Recommendations: 0
It may not make sense to wait if you are the OP. For other people, it does make sense if you are concerned that you may not qualify to make Roth IRA contributions.

I agree. It also makes sense if you might qualify for the Savers Credit(if that's still out there for '08). I found out last year that there is the possibility that a traditional IRA may be a better choice than a Roth if you're nearing the phase out on the credit.

I'd automate the money into savings with the first paycheck of the year but I wouldn't contribute to an IRA until the tax picture was totally clear.

Print the post  


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!
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.
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.