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Another $5,000 Roth IRA Contributions

Contributed by mm | March 30, 2004 08:41 PM PST



This week I opened a new Roth IRA account under my wife's name in BrownCo, a discount brokerage affiliated to JP Morgan. We are sending $5,000 as Roth IRA contribution ($3,000 for tax year 2003 and $2,000 for tax year 2004). The cash is mainly from my liquidation of RJR shares.

My choice of BrownCo is mainly based on two considerations:

First, with $5/trade fee schedule, BrownCo is a cost-effective place to park retirement funds. I can immediately save 50% of the commission compared to AmeriTrade or Fidelity.

Second, BrownCo will open the door for me to JP Morgan equity analysis. I already have a number of research reports, like S&P Report, Citigroup Research, Lehman Brother Research and Argue through my other brokerage accounts and a lot more from Intelliscope, but it does not hurt to have analysis from one more big players like JP Morgan.

I didn't contribute the full $6,000 because there are not many opportunities I can see in the market. I still have a year from now to contribute to the full amount for tax year 2004.

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Read all 32 articles in the same category.
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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
03/22/04 | 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
01/08/04 | Making 2004 Roth IRA Contributions
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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