The stock market is continuing to do well. In fact, last week the DOW closed at record highs. If you're invested in your IRA, 401(k), 403(b), or any stocks, index funds, or ETFs - your portfolio has probably made some significant increases lately.
I opened my Roth IRA account with Vanguard on December 18th, 2011.
I simply picked a Vanguard fund, the Target Retirement 2045 fund (VTIVX) and started consistently plugging money into this account, making sure that I maxed out my contributions for this account ($5000 per year up until 2012, $5,500 for year 2013 if you’re under 50 like me).
I’m up $2,726.99 in investment returns so far (since Dec 2011). Not too shabby. The interest earned in my multiple savings accounts over the last year have been laughably low.
If you haven’t maxed out your annual contribution from 2012, there’s still time. You still have until April 15th, 2013 to contribute to your 2012 IRA. After that, you can’t backdate any contributions.
I will periodically share updates on the growth of my Roth IRA so you can watch my funds grow (or shrink). Tentatively, I'm going to keep my 401(k) and other investments private.
Oh! Those digits are quite promising. But I guess it is too late now for 2012 contribution. I wonder what will happen if a contributor fails to contribute for a certain year.ReplyDelete