Home > Plunking it to the IRA

Plunking it to the IRA

November 14th, 2007 at 10:28 am

Last week I sent $410 extra to my IRA. Can't recall now why the funky extra ten dollars is on there, but it probably made my checkbook come out to a nice even number or something.

Even though I haven't been on the site much lately, I have been plugging away at finances. Anyway, that April deadline is looming and I need to boost my 2007 contributions.

How about you - do you have yours funded for this year yet?

9 Responses to “Plunking it to the IRA”

  1. terri77 Says:

    Mine will be fully funded December 15th.

  2. Broken Arrow Says:

    I can't max out my pre-tax limit this year, but will attempt to do so next year. Still, I've got a healthy amount in it.

  3. baselle Says:

    Only because I can, I funded my 2007 one by 1/15/2007. I'll dodge the tomatoes and the boos now! Big Grin

  4. luxliving Says:

    Baselle, I applaud you! One of these days I hope to be in a position to be able to do the same.

  5. PauletteGoddard Says:

    not yet. I update my sidebar when I do make payments to my Roth IRA. Right now it looks like January 17, 2008 is when I make my last Roth IRA contribution for the tax year 2007.

  6. disneysteve Says:

    I finished funding both of our Roths in June, I believe. Might have been July. It will take a little longer in 2008 since the contribution limit jumps to $5,000. That means an extra $2,000 for both of us.

  7. luxliving Says:

    Paulette, that's a good idea and one I should use!

    DisneySteve - I knew you were one of the ones who finished early. Big Grin We can do the extra to $5000 for my husband's as well, although I'm not sure I'm going to make it this year. Working on getting us there and making this more of a priority!

  8. KellyB Says:

    We fully funded both our Roths in February with a yearly bonus. I just fully funded my 401k end of Oct with an unexpectedly large quarterly bonus. My other half is on track to fund 401k at year's end. Automating is the way to go!! So now on to planning 2008 contributions - same for 401k, but like DisneySteve, we want to put in the full $5000 each for the Roths so we'll have to come up with the extra $2K. Maybe we'll get lucky with a bigger bonus! If not we'll scrape it our of the budget somehow.

  9. disneysteve Says:

    Fortunately, the extra 2K won't be a problem for us. In addition to our retirement accounts, we also fund some non-retirement accounts (mutual funds). I think I will trim back on those contributions and direct that money to the Roths instead until they are fully funded. We put $300/month into those accounts now, so just skipping a few months will take care of the difference. I'd rather put it in the Roths anyway.

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