Don’t Forget To Fund Your Roth!
March 17, 2009 – 5:41 amDon’t forget that you can still fund a regular or Roth IRA up to April 15th for the prior year. The Roth IRA has some income limitations so please check the IRS website for the current guidelines.
Several other important points to consider this time of year include:
- Consider funding a Roth or Traditional IRA with your tax refund. Don’t just blow it on a big (or small) TV. Put it to use! Of course you would need to make the investment before you received the refund, but if you have some funds you can shuffle around this could be great idea for some of you.
- If you are getting a huge refund figure out why. Did you make a large one-time donation or adopt a child for example? If you can’t figure out a reason for the huge refund be sure to adjust your withholdings so that you don’t over-withhold this year.
- If you have extra funds available, perhaps from a tax refund, consider storing part of your emergency fund in a Roth. You can take out the initial investment amount at any time, and you can still invest in low-risk investments like money market mutual funds, CD’s, etc.
If You Liked This Post Then Please Check These Out...
|
