Putting tax refund into roth ira now

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rzk96
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Joined: Sat Apr 15, 2017 9:59 pm

Putting tax refund into roth ira now

Post by rzk96 » Thu Mar 26, 2020 10:13 am

Hello-
Every year (since 2016) I put in my tax refund into my roth ira. But this year... as you guys know, the market is a tad off. Should I wait to put it all in? Or just do it now and forget about it. My logic says to do it now and forget about it. Since I've got like 20 more years of working, haha.

I'm 30 years old. Have a mortgage, have a 20k EF, I've also maxed out my 401k since 2016.

ty!

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yangtui
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Re: Putting tax refund into roth ira now

Post by yangtui » Thu Mar 26, 2020 10:26 am

I would continue doing things how you have always done them unless your emergency fund is insufficient (how long it can sustain you is what matters. The actual dollar amount isn't important.) and/or your employment situation is not currently secure.

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FiveK
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Re: Putting tax refund into roth ira now

Post by FiveK » Thu Mar 26, 2020 12:32 pm

rzk96 wrote:
Thu Mar 26, 2020 10:13 am
My logic says to do it now and forget about it.
Your logic is logical.

surfstar
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Re: Putting tax refund into roth ira now

Post by surfstar » Thu Mar 26, 2020 12:36 pm

Put it all in! You're 20%+ ahead of us who did that in January!

Vanguard Fan 1367
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Re: Putting tax refund into roth ira now

Post by Vanguard Fan 1367 » Thu Mar 26, 2020 4:52 pm

I agree with Bogle that timing the market is not something he knows how to do nor does he know anyone who knows anyone who can time the market.

I did read a book by Ben Stein on timing the market. In the past when there have been 30% drops that has been a great time to invest.

So good luck with your tax refund. Bogle would say: "invest we must."

retiredjg
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Re: Putting tax refund into roth ira now

Post by retiredjg » Thu Mar 26, 2020 5:00 pm

Unless you need more emergency fund, Roth IRA is the best place to put your money.

Monsterflockster
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Re: Putting tax refund into roth ira now

Post by Monsterflockster » Thu Mar 26, 2020 5:50 pm

rzk96 wrote:
Thu Mar 26, 2020 10:13 am
Hello-
Every year (since 2016) I put in my tax refund into my roth ira. But this year... as you guys know, the market is a tad off. Should I wait to put it all in? Or just do it now and forget about it. My logic says to do it now and forget about it. Since I've got like 20 more years of working, haha.

I'm 30 years old. Have a mortgage, have a 20k EF, I've also maxed out my 401k since 2016.

ty!
I put mine in Jan 2... so you’ll do better than me if you go all in now. Or since we have no idea where things are headed you could put it all in your Roth MM and invest 1k a month.

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