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My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.
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Making 2004 Roth IRA Contributions

Contributed by mm | January 8, 2004 09:51 PM PST



Today I made $3,000 contributions to my Fidelity Roth IRA account. After this contribution for tax year 2004, my Roth IRA is now worth ~$10,700. (As a recap, in early 2003 I started the account with $6,000 contributions for tax year 2002 and 2003, and the portfolio appreciated by $1,700 so far.)

I am always a fan of Roth IRA. In my model, the tax-free growth provided by Roth IRA is only seconded by the employer match feature in 401(k) account (an immediate gain) and the ESPP. Unlike 401(k), Roth IRA also offers sufficient liquidity -- your contributions can be withdrawn tax free at any time.

I am also considering to open a Roth IRA account for my wife with $6,000 contributions (for tax year 2003 and 2004) before April 15. I am also waiting for the news of the new tax-advantaged accounts the Bush administration may push this year. (If you are interested, here is another good description of the new account types.) If that proposal is passed, I will scratch my head to pull out $30,000 to make full contributions.

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Read More ... 32 Posts In The Same Category

01/09/06 | Portfolio Breakdown - December 31, 2005 | (12)
01/13/05 | 2004: Not A Good Year For My Portfolio | (3)
08/27/04 | Why Will I Sell Microsoft Stock Award Shares?
06/01/04 | May 2004 Month-End Holdings
05/02/04 | Closing Out My AmeriTrade Account
05/01/04 | April 2004 Month-End Holdings
04/14/04 | OCA: Another Double Bagger
04/02/04 | March 2004 Month-End Holdings
03/30/04 | Another $5,000 Roth IRA Contributions
03/22/04 | My First Double-Bagger, Finally
02/27/04 | February 2004 Month-End Holdings
02/03/04 | January 2004 Short Interest for My Holdings | (1)
02/01/04 | January 2004 Month-End Holdings
12/31/03 | My Portfolio in 2003: Losing to the Benchmark But Still Winning Handsomely
12/31/03 | December 2003 Month-End Holdings
12/30/03 | December 2003 Short Interest for My Holdings
12/16/03 | Margin! Margin!
12/01/03 | November 2003 Short Interest for My Holdings
11/29/03 | 2004 401(k) Strategy
11/28/03 | November 2003 Month-End Holdings
11/17/03 | A Draft of Portfolio Management Guideline
11/12/03 | Start to Try TreasuryDirect.com ... | (3)
11/07/03 | Where Should I Put Roth IRA Contribution?
10/31/03 | October 2003 Month-End Holdings
10/24/03 | October 2003 Short Interest for My Holdings
10/20/03 | 2003 Q3 Earning Release Schedule
09/30/03 | September 2003 Month-End Holdings
03/30/03 | My Key Portfolio Performance Metrics
01/02/03 | Year 2003 Start Positions




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