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Meaning either one Roth IRA or two. I guess we are leaning towards opening one Roth IRA, putting in $4000 initially for 2005 and then making monthly payments towards 2006.

Since the IRA can only be in one person's name, I'm somewhat surprised by this. FWIW, I would recommend opening one IRA and putting 4K in, then opening a second one and putting any contributions made before April 15 into that one, and label tham all as 2005 contributions.

This way, if you have a windfall in 2006, you can still make the max 8K (4K per account) contributions. If not, then it doesn't hurt you and you've left your options over.

Also, although you may be planning on being together forever, things can happen, heaven forbid. Also, if your ages are different, having two different IRA's gives you more flexibility if you stay together until your golden years. It also, as already mentioned, gives you more options in contributing greater amounts to IRA's overall.

Seriously, I'm with rad here (no surprise), think about two IRAs, and have all contributions before April 15 be labelled as 2005 contributions.

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