Comments on: BVC #9 – Last Minute Tax Tip (Roth IRA)

By: Corporate Barbarian

Corporate Barbarian — Fri, 17 Apr 2009 01:49:43 +0000

Nice post, Jim. The videos add a personal touch to the site.

By: Jim

Jim — Thu, 16 Apr 2009 22:47:42 +0000

Thanks for the compliment James!

By: James

James — Thu, 16 Apr 2009 22:03:59 +0000

This blog just keeps getting better and better.

By: Sam

Sam — Thu, 16 Apr 2009 15:03:36 +0000

Jim -
We have been thinking about the Roth IRA since we had real jobs for over 5 years now and NEVER contributed to it. Every year, we think about it and don’t do anything about it. This year, 2009 we want to contribute a little bit each month and not even force ourselves with the huge decision of contributing a LOT of money at the end of the year. So for beginners like us, can you do a primer on how and where to contribute to a Roth? What companies charge less commission etc?

By: Jim

Jim — Wed, 15 Apr 2009 18:07:22 +0000

That’s great advice, I’m going to amend my article and add your point.

By: Chuck

Chuck — Wed, 15 Apr 2009 17:58:40 +0000

If you want to open an IRA or Roth IRA on tax day, your best bet is to open it with a firm that you already have a relationship with. They have already confirmed your identity, so there is nothing in the way of creating the account.

I opened a Roth at Vanguard and funded it in about 10 minutes with proceeds from another Vanguard fund. (Since most funds are selling at a loss this year, make sure you buy a DIFFERENT fund inside the IRA, or it will be a wash sale that you can never recover from.)