Comments on: Ratcheting up our Roth IRA Contributions http://www.fivecentnickel.com/2005/09/09/ratcheting-up-our-roth-ira-contributions/ personal finance tips, tricks, and commentary Tue, 14 Feb 2012 00:06:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: luckysaver http://www.fivecentnickel.com/2005/09/09/ratcheting-up-our-roth-ira-contributions/comment-page-1/#comment-84726 luckysaver Sun, 23 Sep 2007 04:48:33 +0000 http://www.fivecentnickel.com/?p=157#comment-84726 Very good advise. It's important to contribute to your retirement while you're young and it will grow faster than you think. Never go below the "matching funds" contribution. My wife and I are actually to the point where ours has grown to where we have to reduce ours in order to avoid paying a lot of taxes down the road. We've also exceeded the Roth max unfortunately but now have extra cash to just go out and enjoy life or fix up the house some. Very good advise. It’s important to contribute to your retirement while you’re young and it will grow faster than you think. Never go below the “matching funds” contribution. My wife and I are actually to the point where ours has grown to where we have to reduce ours in order to avoid paying a lot of taxes down the road. We’ve also exceeded the Roth max unfortunately but now have extra cash to just go out and enjoy life or fix up the house some.

]]> By: Robin http://www.fivecentnickel.com/2005/09/09/ratcheting-up-our-roth-ira-contributions/comment-page-1/#comment-80780 Robin Mon, 17 Sep 2007 04:18:52 +0000 http://www.fivecentnickel.com/?p=157#comment-80780 Great plan! I've heard Dave Ramsey go through the math as far as match IRA v. nonmatch regular IRA vs Roth, and he came out with the same conclusion you did: Match first, then roth. My husband and I are 21 and 23, and we're about to start a Roth IRA. We're still students, but we have some savings and we have a positive cashflow, so we're going to put small chunk of cash and then deposit a very small (like $50-$100...) amount in every month. You know what they say about the power of compounding interest! Great plan! I’ve heard Dave Ramsey go through the math as far as match IRA v. nonmatch regular IRA vs Roth, and he came out with the same conclusion you did: Match first, then roth.

My husband and I are 21 and 23, and we’re about to start a Roth IRA. We’re still students, but we have some savings and we have a positive cashflow, so we’re going to put small chunk of cash and then deposit a very small (like $50-$100…) amount in every month. You know what they say about the power of compounding interest!

]]> By: tdfb http://www.fivecentnickel.com/2005/09/09/ratcheting-up-our-roth-ira-contributions/comment-page-1/#comment-507 tdfb Sat, 10 Sep 2005 02:44:36 +0000 http://www.fivecentnickel.com/?p=157#comment-507 I commend you both on your raise and your conviction to saving! I will be joining you in 4 or 5 years. ;-) I commend you both on your raise and your conviction to saving! I will be joining you in 4 or 5 years. ;-)

]]> By: SavingAdvice http://www.fivecentnickel.com/2005/09/09/ratcheting-up-our-roth-ira-contributions/comment-page-1/#comment-505 SavingAdvice Fri, 09 Sep 2005 16:44:03 +0000 http://www.fivecentnickel.com/?p=157#comment-505 You have a good financial plan in place for your retirement savings. Taking part of your raise and putting it toward savings instead of spending into your new income is a great way to increase long term savings You have a good financial plan in place for your retirement savings. Taking part of your raise and putting it toward savings instead of spending into your new income is a great way to increase long term savings

]]> By: Financial Fruition http://www.fivecentnickel.com/2005/09/09/ratcheting-up-our-roth-ira-contributions/comment-page-1/#comment-500 Financial Fruition Fri, 09 Sep 2005 14:25:56 +0000 http://www.fivecentnickel.com/?p=157#comment-500 Sounds like a good plan. Good luck. Sounds like a good plan. Good luck.

]]>