2006-09-09 15:09:37 · 5 answers · asked by zxdfmlp 3 in Business & Finance ➔ Investing
Yes, you must.
They give you time into the following year to invest, but they don't usually let you invest ahead of time. Else, that's kind of like being able to put in $20,000 now and earn returns for up to five extra years, or in other words, exceed this year's limit.
It'd be nice though if we could!
2006-09-11 19:04:09 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
Yes, you must wait. Because only EARNED income can be contributed to a Roth IRA, you obviously have to wait until you earn money in 2007 to contribute for 2007. In the meantime, possibly put it in a 3-month CD at your bank, earn a little interest and then contribute to the Roth in January.
2006-09-09 15:21:20 · answer #2 · answered by Zak 5 · 4⤊ 0⤋
Not at all you can contribute at any time. Roth is after tax money.
2006-09-09 15:12:20 · answer #3 · answered by Anonymous · 0⤊ 4⤋
Yes, because it will make simple for evryone and IRS
2006-09-09 18:54:38 · answer #4 · answered by Hoa N 6 · 3⤊ 0⤋
think so
2006-09-09 15:11:52 · answer #5 · answered by Anonymous · 2⤊ 1⤋