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Started By
Message
re: Opening Roth IRA
Posted on 12/18/18 at 8:28 am to Mingo Was His NameO
Posted on 12/18/18 at 8:28 am to Mingo Was His NameO
quote:Because if you miss a Roth contribution it’s gone forever. I don’t understand this argument at all. Why would you ever NOT max your Roth in order to fill a taxable account first?
Then what's the material difference in putting it in a 2% savings account?
Assuming you plan to contribute to a Roth, I realize it doesn’t make sense for certain tax brackets.
This post was edited on 12/18/18 at 8:28 am
1
Posted on 12/18/18 at 8:31 am to jimbeam
quote:
I don’t understand this argument at all. Why would you ever NOT max your Roth in order to fill a taxable account first?
quote:
Im a college student currently with a good PT job/internship that I work a decent amount at. I want to open a Roth IRA and start contributing a little
I agree in your sense, but that's not what we're talking about. If I was the OP and I had a little extra scratch I'd just put it in a high yield savings account. It's very commendable that he wants to start saving early, but I just don't think a Roth is the most practical option at this point. He could very well need to dip into some of that money pretty soon. Moving expenses, deposits on a new place, etc, etc
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