Comments on: The Pros of Maxing Out Your Roth IRA!

By: J. Money

J. Money — Mon, 12 Feb 2018 15:56:34 +0000

nice!

that would be cool if single people could throw in more too – I agree :) maybe you can start a campaign on Valentine’s Day and see if you can drum up enough support for it, haha… I’ll share it around if you blog about it! :)

By: Dividend Driven

Dividend Driven — Sat, 10 Feb 2018 13:48:38 +0000

It’s very smart to max out your Roth IRA – I max out my Roth IRA at the beginning of the year as a birthday present to myself. As a single person I do wish they would at least double the amount you can contribute annually. For me I see the most important benefit of a Roth IRA is having the ability to control the money during retirement – meaning there are no required minimum distributions so you can allow the money to continue compounding.

By: J. Money

J. Money — Fri, 02 Nov 2012 21:20:57 +0000

Not a bad plan at all… I have all my mutual funds in my Traditional IRAS, and then actually use the Roth for specific stocks – but either way works!

By: benj.frank

benj.frank — Fri, 02 Nov 2012 12:51:00 +0000

Use the Roth to invest in some mutual funds, then when you’re around 100,000 start building a more well rounded portfolio with stocks etc.

By: J. Money

J. Money — Wed, 23 Nov 2011 23:20:38 +0000

Nah, I got it – def. clear :) You want to borrow $10,000 from me over 2 years, yes? haha…

By: Bryan at Pinch that Penny!

Bryan at Pinch that Penny! — Wed, 23 Nov 2011 18:47:18 +0000

I did a little more research, and I’d like to revise my response. Lending Club does have a Roth IRA option, but if I could only plunk down $5,000, I’d probably not put it there because they take a $100 fee out of retirement account for balances less than $10,000.

However, if I was pretty sure I’d be able to put $5,000 in next year, I’d go with Lending Club because there’s some sort of grace period the first year with a Roth where there’s no fee if your balance is $5,000 or more during the first year, but it goes up to a $10,000 minimum balance the next year.

I don’t think I explained that well, but I think you get the idea. :-)

By: J. Money

J. Money — Mon, 21 Nov 2011 15:44:08 +0000

@Carrie – Careful Cents – Nice! Yes, keep it up over there so you can knock all that debt off! That’s awesome, I can’t wait to hear until you’ve killed it :) And thx for betterment too – been keeping my eyes on them, just haven’t dug too deep yet. Should be interesting!
@Sun – Haha, whatever works! :)

By: Sun

Sun — Sat, 19 Nov 2011 22:14:03 +0000

Im just going to stick with my vanguard 2040 (vforx) if I had an extra $5k. I rather have my money working for me instead of some chump taking a bite with “expert” trades.

By: Carrie - Careful Cents

Carrie - Careful Cents — Sat, 19 Nov 2011 00:51:12 +0000

I’ve had to be disciplined and not max out my IRA because I’m trying to pay off the last of my debt..my car loan. I can’t wait till I can completely focus on retirement, investing and savings. Your post here makes me want to really kick it into gear :)

Also, you could check out Betterment.com which will be rolling out IRA’s in about a month. I attended a webinar with the CEO and it looks really great. I like having more control over my investments but it’s still simple. Hope that helps some.

By: J. Money

J. Money — Fri, 18 Nov 2011 01:04:56 +0000

@Jackie – I think a lot of people like Costco :)
@LB – Oooh you could get a LOT of chickens with $5,000 too I’d imagine!
@Mark – That’s true! Too bad I hate their service, haha… but business-wise it could be a smart move.
@Barb Friedberg – I could have guessed you do cuz you’re smart! :)
@Cherleen @ My Personal Finance Journey – Let me know if you come across any good ones – I rarely research them :)
@thefrugallery – Yup! Good point. I always forget about that too.