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re: Can I contribute a monthly amount to Max out my Roth IRA
Posted on 12/13/13 at 3:13 pm to Bengalbadguy
Posted on 12/13/13 at 3:13 pm to Bengalbadguy
Print out Fidelity's direct deposit form for 5500/number of paychecks in a year and turn it in to your employer.
FWIW, here is what I do:
I DD into a rewards savings account. From this account a budgeted quantity is automatically transferred weekly to my checking account. This is to cover all of my primary expenses, mandatory/discretionary.
From my savings account, there is a once a month transfer of funds to a sweep fund in my account at Vanguard. It's goes from my sweep fund to whichever mutual funds I want.
Remainder stays (and builds) in savings account to cover unconventional expenses that pop up outside of medical and car repairs, which is part of the budget (car down payment, vacation, etc).
I like this method as it allows me to control the investment flow at my leisure. I can turn it off, back on, change the amount, etc all without having to file away paperwork with HR.
FWIW, here is what I do:
I DD into a rewards savings account. From this account a budgeted quantity is automatically transferred weekly to my checking account. This is to cover all of my primary expenses, mandatory/discretionary.
From my savings account, there is a once a month transfer of funds to a sweep fund in my account at Vanguard. It's goes from my sweep fund to whichever mutual funds I want.
Remainder stays (and builds) in savings account to cover unconventional expenses that pop up outside of medical and car repairs, which is part of the budget (car down payment, vacation, etc).
I like this method as it allows me to control the investment flow at my leisure. I can turn it off, back on, change the amount, etc all without having to file away paperwork with HR.
Posted on 12/13/13 at 3:35 pm to Volvagia
I agree with Volvagia about not setting a direct deposit for a Roth.
Have it set up with your checking or some savings account your check goes into. It's much better to have the instant ability to stop a deposit if the need arised.
Have it set up with your checking or some savings account your check goes into. It's much better to have the instant ability to stop a deposit if the need arised.
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