I deposited my paycheck today and I just sent my first Roth IRA contributions. For more information about my goal of saving $48,000 this year, read this post. My total IRA contributions for 2006/2007 (for two accounts) will be $8000. I sent $400 to each account, for a total contribution of $800. (Normally I would save the entire amount in…
Category: Savings Story
Saving $48,000 This Year: Roth IRAs, Goal Change, Updates!
I will be depositing my paycheck Friday and sending in my first ever Roth IRA contributions. I recently opened two Roth IRAs, one for myself and one for my wife. The maximum contribution for fiscal year 2006 is $4000 per Roth IRA. Fully funding our Roth IRAs for 2006 AND 2007 would take $16,000. Wow. That’s a pretty big number.…
My Savings and Investment Goals For 2007
Short and sweet, here are the goals I’m reaching for in 2007. My 403b = $12,000 My Wife’s Pension = $4000 (The above amounts = 20% of our gross salaries.) Baby Step 4, check! My daughter’s ESA = $4000 My son’s ESA = $4000 (The above amounts = 10% of our gross salaries) Baby Step 5, check! My Roth IRA…