Comments on: Opening a Roth IRA for the First Time http://ptmoney.com/opening-a-roth-ira-for-the-first-time/ Real Personal Finance for a Life Without Limits! Thu, 29 Mar 2012 02:15:21 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: financial advisorhttp://ptmoney.com/opening-a-roth-ira-for-the-first-time/comment-page-1/#comment-3524 financial advisor Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=2651#comment-3524 As you said, the government can always change the rules and tax laws (and tax rates) are constantly changing. I feel this makes it even MORE important to have every type of account you can, so that you have money in multiple "buckets" in which you can pick and choose to contribute to, and eventually, to withdraw from. As you said, the government can always change the rules and tax laws (and tax rates) are constantly changing. I feel this makes it even MORE important to have every type of account you can, so that you have money in multiple “buckets” in which you can pick and choose to contribute to, and eventually, to withdraw from.

]]> By: PThttp://ptmoney.com/opening-a-roth-ira-for-the-first-time/comment-page-1/#comment-3505 PT Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=2651#comment-3505 Jason - I usually advise against letting the tail wag the dog, so to speak. So, just cause the rule is there, doesn't mean you have to force the contribution when you weren't planning on it already.Basically, if you have the extra cash, and were already looking to invest, have met your 401k match, have no big debts, have a nice e-fund, I'd say yes, the Roth is a great idea.You never know what the future holds. You may become eligible at various times throughout your life, and the govt could change the rules. Jason – I usually advise against letting the tail wag the dog, so to speak. So, just cause the rule is there, doesn’t mean you have to force the contribution when you weren’t planning on it already.

Basically, if you have the extra cash, and were already looking to invest, have met your 401k match, have no big debts, have a nice e-fund, I’d say yes, the Roth is a great idea.

You never know what the future holds. You may become eligible at various times throughout your life, and the govt could change the rules.

]]> By: Jeff Rosehttp://ptmoney.com/opening-a-roth-ira-for-the-first-time/comment-page-1/#comment-3503 Jeff Rose Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=2651#comment-3503 PT-Congrats man! I know the same feeling I had from funding my first Roth IRA, as well. Look forward to you eventually pulling off that "trifecta" :) PT-

Congrats man! I know the same feeling I had from funding my first Roth IRA, as well. Look forward to you eventually pulling off that “trifecta” :)

]]> By: Flexohttp://ptmoney.com/opening-a-roth-ira-for-the-first-time/comment-page-1/#comment-3501 Flexo Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=2651#comment-3501 Vanguard's a great choice for your Roth IRA. I've tried TIAA-CREF, too, but Vanguard is my top coice. Congrats on funding your Roth IRA! Vanguard’s a great choice for your Roth IRA. I’ve tried TIAA-CREF, too, but Vanguard is my top coice. Congrats on funding your Roth IRA!

]]> By: Mirandahttp://ptmoney.com/opening-a-roth-ira-for-the-first-time/comment-page-1/#comment-3496 Miranda Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=2651#comment-3496 I love my Roth IRA. We're looking to open one for my husband, and I'm looking into a solo Roth 401k for me as well. I love my Roth IRA. We’re looking to open one for my husband, and I’m looking into a solo Roth 401k for me as well.

]]> By: Jason @ MyMoneyMinutehttp://ptmoney.com/opening-a-roth-ira-for-the-first-time/comment-page-1/#comment-3495 Jason @ MyMoneyMinute Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=2651#comment-3495 I'm with you on the Roth contributions, especially since your employer stopped their matching 401k contributions. Congrats on fully-funding those Roths!Curious on your opinion:What if you were below the income limit for Roth IRA contributions for 2008, but expect to be above the limit and not qualify for Roth IRA contributions in 2009?Would you still advise someone to give to an IRA for just one year's worth of contributions, knowing they probably won't get to contribute to it again? I’m with you on the Roth contributions, especially since your employer stopped their matching 401k contributions. Congrats on fully-funding those Roths!

Curious on your opinion:

What if you were below the income limit for Roth IRA contributions for 2008, but expect to be above the limit and not qualify for Roth IRA contributions in 2009?

Would you still advise someone to give to an IRA for just one year’s worth of contributions, knowing they probably won’t get to contribute to it again?

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