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I'm thinking of opening up a Roth IRA soon. I think the contribution deadline for 2006 has passed (it generally goes from January of that year til April 17th of the following year, 2007, if I am mistaken please correct me). Does this mean I cannot open or fund an IRA until January of 2008? I'm confused about these deadlines, can someone clarify exactly when the contributions can begin and end for each year, and when I can open the Roth? Thanks!

2007-07-22 15:47:40 · 6 answers · asked by Anonymous in Business & Finance Personal Finance

6 answers

You can open an IRA right now.

Contributions for 2007 run from 1/1/07-4/15/08....and so on.

2007-07-22 16:05:14 · answer #1 · answered by Wayne Z 7 · 0 0

you can open an IRA at about any time. The tax benefits do change depending on when you open it. If your going to open an IRA
I would suggest doing some research to find out which one is the right one for you. A roth may not be the correct vehicle for you, you may not even qualify due to income restrictions. Call your financial advisor to find out.

2007-07-22 16:07:20 · answer #2 · answered by andrew p 2 · 1 0

You can open a Roth IRA anytime you want. Typically the deadlines are for those looking for a tax break.

2007-07-22 18:18:03 · answer #3 · answered by Pennstate98 1 · 0 0

u can contribute to a roth anytime. if you did it today it would count toward yr 2007 limit. the significance of the deadline is that for most people you can put in only up to $4000 a year in a roth. so you have to keep straight how much u are putting in and for what year (your brokerage will help u with this)

2007-07-23 01:09:00 · answer #4 · answered by njyogibear 7 · 1 0

My wager you mean money (no longer debts). maximum folk have a million ROTH IRA account which you're able to make a contribution to many different money. I actually have a American money Roth and think of there is approximately 15 or greater different money i will placed money into. All I do to invest in a clean fund is tell American money to place X money in that fund. The financial advisors makes the money on how plenty you're making a contribution no longer based on what you're invested in. you could log into your on line American money account and spot what money you're presently making an investment in and what money you're eligible to invest it.

2016-09-30 11:58:40 · answer #5 · answered by ? 4 · 0 0

Wayne Z is correct!

2007-07-22 16:07:51 · answer #6 · answered by Common Sense 7 · 0 1

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