Tuesday, March 6, 2007

#35. Set up an IRA with regular contributions.

So, my thought was that I would set up a Roth IRA in order to fulfill #35 since I'm more than 10 years from retirement (that's one of the main criterian I've seen for whether one should choose a Roth IRA or Traditional IRA). However, starting April 1 of this year, my company is starting a Roth 401(k) plan in addition to our regular 401(k) plan, so I think that making contributions to it more than fits the bill in order to fulfill #35.

Besides, I don't have to do anything basically. They'll use my current contribution elections, automatically deduct it from my payroll and I don't have to pay a broker any fees. I love it when a plan comes together so well!

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