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First 2010 Roth contribution

January 2nd, 2010 at 04:02 pm

I just made our first Roth contributions for 2010. I sent $1,550 to each of our accounts so just 2 days into the year and we are nearly 1/3 funded. This is the first time I've ever put money in this early and definitely never this much so soon. I'm hoping to max them by April or May, a month or more earlier than usual, after which I plan to start attacking our mortgage more aggressively.

Retirement is about 17 years away but I know that time will go faster than one might think and I want to get the mortgage paid off in 10-12 years and use the last 5 to really sock away cash and get everything in place to retire.

4 Responses to “First 2010 Roth contribution”

  1. creditcardfree Says:
    1262449590

    Good job!!

  2. fern Says:
    1262458546

    That's been my plan: pay off mortgage asap and then super-save the last few years.

    Funding my Roth IRA is on my list for Monday to-do. I will simply transfer taxable funds to the IRA.

  3. disneysteve Says:
    1262467480

    fern, I might fully fund them early by moving money from a taxable account but we have some financial stuff that needs to get settled before I know how much I've got to play with. We're going to be getting some work done on the house this month and I'm holding some money out in case the job ends up more costly than anticipated (don't they always). Otherwise, I'll just follow my usual plan of contributing from each pay check with the $3,100 jump start this year.

  4. fern Says:
    1262481776

    I funded my '10 Roth today. Another $6,000 funneled into a tax-free account. Gotta love it.

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