Max out newly formed Roth IRA?

[lewdog_5]

Originally Posted by Lowexpectations

Actually when most years close out you can still make priory contributions up to the tax deadline which is April 15th most years

Originally Posted by Aredhel

True, but the larger point still stands. You can’t say “I din’t max out my IRA three years ago, so I’ll make up a catch-up contribution now.” Once the contribution window for a given tax year closes, it’s closed forever. So if the OP is in a financial situation that allows him to max out his contributions for the next two years, he definitely should do so.

Right Lowerexpectations, I meant what the next poster summarized though.

OP can't 10 years from now hit an excess of money and say "Welp, I will just dump a bunch of it into my Roth IRA for all those years I never maxed it out."

[Raise_the_Black_Flag]

Originally Posted by rjm1cc

Put the money in. Your next decision is how to invest it. Leave it as cash, buy a CD, buy equities. So your question is really how are you going to invest your money. I would go for equities as this is a long term investment and getting in ASAP will work even if the market tanks for a few months.

Whoa. "ASAP" "Market tanks for a few months"


What?!


When does a market tank of "a few months"? I guess in your view it wil always magically come right back? Bear markets could last 2 years and you would not know you're in one.




To answer the OP's question. I would put a little bit in monthly. Or even better quarterly.

[lottamoxie]

Don't question it, put the monies into your IRAs when you have the monies available. In 25 years you will want to go in the wayback machine and give your 2018 self a huge hug of gratitude for investing in roths and every other retirement vehicle you use. Trust me on this: you will not believe how fast the years go by and you'll never regret having saved/invested over the years.

[calicoolguy]

Yea im with you all... just max it out for this year and continue to do so. Thanks for all the advice. Been loving thing forum community.