Roth IRA is a long term investment. What happen if we don’t have any cent to put in after 5 or 10 years?
invest in roth ira? what is a limit to put money in ira /month? thanks for any helfful answer.
Comments
Comment from Hard Drive Crashed? Recover Your Files Now
Time July 6, 2010 at 1:34 pm
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There is no minimum requirement after your account is open, so if you “don’t have any cent” to put in 5 or 10 years from now, that’s just fine.
Comment from Top Sorts Picks
Time July 8, 2010 at 5:22 am
You talk of low limit on Roth IRA’s so I will speak to that. I recommend getting started saving. I’m going to bet you can find a Credit Union where you can start a Roth IRA for as little as $100. If you want to invest in mutual funds Excelsior can start an account for as little as $500. Assuming you are less than 50 you can put in up to $4000 per year and have until April 15 of next year to do so. If you choose not to put any money in that’s OK as well. I did not contribute a lot the years I had 4-5 kids in college at once. Many people put in what they can be it half of their overtime or all of their profit sharing.
Comment from Hard Drive Crashed? Recover Your Files Now
Time July 5, 2010 at 4:04 pm
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I’m not sure what you’re asking. Have you not put any new money in for 5-10 years? There is no rule that you have to keep putting money in (although it’s a good idea).
If you’re asking the maximum you can put in, the maximum this year is $4000 ($5000, if you’re over 50) total. That would be $333.33 every month (or $416.66, if over 50).