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10-12 Fewer Checks to Write

February 9th, 2008 at 11:07 am

I do most banking online, but for some reason, I have continued making our Roth contributions to Vanguard by mailing in checks with the little deposit slip things that you tear off the bottom of the statement.

It finally occurred to me that I could probably do it online. So I just logged in to my Vanguard account and, sure enough, I was able to make a purchase toward my 2008 Roth by a simple electronic transfer from my bank.

I usually add to our Roths every 2 weeks after depositing my paycheck. Last year, it took 8 deposits to fully fund both accounts. Since the max is higher this year, I figure it will take 10-12 deposits so I will have that many fewer checks to write and mail. Very simple and safer too.

7 Responses to “10-12 Fewer Checks to Write”

  1. monkeymama Says:

    You can set up automatic contributions too. I mean, you can change them at any time. Vanguard has a really nice setup. I just set it up to contribute automatically, but I do change it often. You can set up an automatic contribution, and just cancel it when you max out. For me it's just nice, one less thing to think about.

  2. disneysteve Says:

    That's good to know, though I prefer to do it manually because the amount I send in varies from month to month based on other factors.

  3. thriftorama Says:

    I had to jump through hoops to set up electronic transfers to my Schwab accounts. I had to sign and mail in forms giving them permission. I understand being paranoid, but geesh! Sounds like Vanguard was a bit easier.

  4. Amber Says:

    I do all my banking online and love it. The only check I write are to BoA for the car because if I pay online they always seem to add it to the interest only (who would pay only the interest on a car loan anyway?) and theother to church. I think it is a little tacky to pay tithes online in which my church deos not offer anyway

  5. disneysteve Says:

    thriftorama - No trouble at all. Just enter the banking info, ABA#, account # and you're all set. Very simple.

  6. scfr Says:

    Smart move. Yes - Vanguard is VERY user-friendly!

  7. Aleta Says:

    I have a Vanguard Prime Money Market Fund and I just transfer the money into the retirement funds when I want. That is also a good way of getting it in there.

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