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Roths fully funded for 2011!

January 8th, 2011 at 06:19 am

If you have followed my posts on the boards, you'll know that this past week, I decided to clean up some financial stuff. We had too much in cash accounts, well above what we needed for a comfortable emergency fund. I closed one money market account entirely (just over $2,700) and transferred $5,000 out of another.

I went online this morning and verified that both of those transactions had been completed and the money was in our checking account. Then I logged into Vanguard and fully funded both my Roth and DW's Roth for $5,000 each.

Never before have we maxed the Roths this early in the year - January 8. So that is crossed off the list of things to do in 2011. The focus now, along with all of the usual stuff, is going to be prepaying the mortgage. I don't think we'll be able to pay it off before our daughter goes to college, which would have been very nice, but we'll get pretty close.

10 Responses to “Roths fully funded for 2011!”

  1. creditcardfree Says:

    Great job, Steve!!

  2. terri77 Says:

    Awesome! I fully funded my Roth IRA on January 1st. It does feel great to have a financial goal completed this early.

  3. Ima saver Says:


  4. NJDebbie Says:


  5. snafu Says:

    Good going! thanks for the push, I will get off my duff and get our tax free a/cs [TESA] funded for 2011. Decided to invest in ETF Div. for me Base metal for DH

  6. baselle Says:

    A pat on the back from a fellow January Roth funder. If you have it, why wait to shelter it?

  7. disneysteve Says:

    I agree, baselle. When I reviewed all of our accounts, I found that we had nearly twice as much in cash accounts as we needed to for our emergency fund. So I shifted some of it into our checking account and sent it off to fund the Roths.

    Even with that, we still have some excess cash that needs to be reallocated. I need to take some time and sit down and review the big picture to decide where best to put that money.

  8. My English Castle Says:

    Hmm--you got me thinking, Steve. I have a bunch of money in Paypal from various sales etc. I don't have enough cash outside the EF to fund them yet, but I think perhaps I should do a partial funding now.

  9. Slug Says:

    Nice work. I'm almost done funding 2010...

  10. Gailete Says:

    I hadn't really understood how Roth IRA's worked until I had to review a book on retirement saving that was so clear you couldn't miss not understanding. In Dec. 2012 I started my Roth IRA and it is just the beginning of July 2013 and I'm almost to $1000 in it. I know it doesn't sound like much, but considering how tight our finances have been for years, to see that money set aside plus another $1000 in our stock fund, I am more than thrilled Smile
    amazing what can happen when you manage to increase your income, get credit card debt paid off and start saving. It snowballs the opposite way for the way debt usually piles up. I much prefer savings with high numbers than debt with high numbers.

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