Skip to main content
No. of Recommendations: 0
mike1965 writes:

I would like to open a Roth IRA in 1998. If I contribute $2000 By the end of the year, Do I have to wait 1 full year from then to contribute another $2000? Or can I do another $2000 after april 15? If the correct answer is the latter and I invest another $2000 on lets say april 20th, do I have to wait until the following year after april 20th for my next contribution? I hope this makes sense.

I reply:

You may make your 1998 Roth contribution any time between January 1, 1998, and April 15, 1999. (The contribution is made on the day your IRA custodian receives the money, not when you drop the check in the mail.) Regardless of what you do for the 1998 tax year, you may make your 1999 Roth contribution any time between January 1, 1999, and April 17, 2000. Thus, you may make your 1999 contribution any time after the first of the year. Good luck! --Bob
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!
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.
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.