Almost There on the Roth
I got a pleasant surprise yesterday. I figured I had better add up how much I’ve contributed to my 2009 Roth so that I could see how much I still had to go.
Due to forgetting that I’d made contributions to two different Roth accounts, it turns out that I’m actually almost done! I have less than $100 to go before my 2009 Roth will be fully funded. (Then of course I can start working on this year’s.)
I’m not a big one on surprises, but that’s the kind I like. I also finished setting up my son’s Roth this past week. He has a job now, so he can contribute. I figure the sooner he starts, the better, and since he likely won’t even make enough to have to pay taxes, all of his contributions will be tax free too.
Congrats on the Roth!
We need to come up with another $400 to finish off our current Roth IRA for this year and then actually start another one for my husband…
For 2010? Either way, that’s great! Have you thought about starting one for your husband and then just splitting the funding half and half? Or maybe that doesn’t work out for what you do with the money in the Roth…
I was over-summarizing…which was lazy. We auto-contribute $300 a month to our Roth IRA. That leaves us with contributing the other $1400 a year. We’re $400 away from contributing that $1400 for 2010. We’ll also still need to contribute the rest of the $300 auto payments. I always seem to blow off our automated savings…
Since we are using all of our retirment accounts jointly (pension, 401k, Roth IRA, and Scottrade), we just never bothered to open another Roth IRA since we barely were able to hit $5000 a year for one…this year we should have a little extra to open another Roth since we won’t be paying for graduate school anymore.
I have our full list of expenses as a post over at my blog…we’re doing what we can to retire by the age of 52 on a teacher’s and office worker’s salary.
Ah ok, that makes sense. It seems to me there is a reason why it may be a good idea to have separate retirement accounts though. Hm, I’ll have to see if I can remember what that was.
If you find out why, please pass it on. Hopefully it will be moot for us by the end of this year since we should have 2 Roth IRA’s by then, but I’m very interested. :-)
Will do.