Forgot to make my $5500 contribution for 2018

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fastpace_re
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Forgot to make my $5500 contribution for 2018

Post by fastpace_re » Tue Jan 09, 2018 2:37 pm

Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.

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flamesabers
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Re: Forgot to make my $5500 contribution for 2018

Post by flamesabers » Tue Jan 09, 2018 2:39 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
You can't change the past, so there's no sense in kicking yourself for what you forgot to do last week.

Going forward, maybe you should set a reminder for yourself on Google Calendar (or whatever calendar you use) to make your IRA contribution on January 2?

Jags4186
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Re: Forgot to make my $5500 contribution for 2018

Post by Jags4186 » Tue Jan 09, 2018 2:41 pm

I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.

Dallas1521
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Re: Forgot to make my $5500 contribution for 2018

Post by Dallas1521 » Tue Jan 09, 2018 2:44 pm

I wouldn't worry about it. If it keeps going up throughout the year and you contribute today or tomorrow, then you would have ended up buying shares at a lower price vs. later in the year.

EzM
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Re: Forgot to make my $5500 contribution for 2018

Post by EzM » Tue Jan 09, 2018 2:49 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
You win some, you lose some. No need to kick yourself. I invested today as well without even looking at pricing. Your long term plan doesn't (and shouldn't) depend on a weeks' stock market movement or a single IRA contribution.

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Epsilon Delta
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Re: Forgot to make my $5500 contribution for 2018

Post by Epsilon Delta » Tue Jan 09, 2018 2:54 pm

It is bothering you because you are mistaking outcome for tactics. You should be focusing on the expected cost of the delay, about $2 and not the actual cost of the delay, about $30.

And you should be kicking yourself because it is bothering you.

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AnalogKid22
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Re: Forgot to make my $5500 contribution for 2018

Post by AnalogKid22 » Tue Jan 09, 2018 3:34 pm

Jags4186 wrote:
Tue Jan 09, 2018 2:41 pm
I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.
And buy an Instant Pot...

aristotelian
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Re: Forgot to make my $5500 contribution for 2018

Post by aristotelian » Tue Jan 09, 2018 3:37 pm

If the funds were in your brokerage account, you have been earning gains, you will just be taxed on them.

livesoft
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Re: Forgot to make my $5500 contribution for 2018

Post by livesoft » Tue Jan 09, 2018 3:50 pm

I don't think best start since 1987 is right.

Besides, weren't you going to buy VGSIX or VNQ or another REIT index fund anyways with your contribution?
Last edited by livesoft on Tue Jan 09, 2018 3:52 pm, edited 1 time in total.
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bloom2708
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Re: Forgot to make my $5500 contribution for 2018

Post by bloom2708 » Tue Jan 09, 2018 3:51 pm

You can wait until April 14, 2019 to make your 2018 Roth IRA contributions. You missed it by a few days, but you are still EARLY. :wink:

Let's say you missed out on 3% gains (probably way high) that is $165 on $5,500. Skip going out to eat 2 times this month.
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azanon
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Re: Forgot to make my $5500 contribution for 2018

Post by azanon » Tue Jan 09, 2018 3:58 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
For all you know, the best time to make that 2018 contribution will be April of 2019 when the US market is down 20+% from today's levels. I give myself a fairly decent chance of being right on that prediction.

OkieIndexer
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Re: Forgot to make my $5500 contribution for 2018

Post by OkieIndexer » Tue Jan 09, 2018 4:03 pm

"Best start since 1987" doesn't sound particularly promising, given what happened later that year. :shock:

Anyway, I invested the IRA contribution today, but since the AA had gotten out of whack due to last year's stock gains, I ended up needing to invest the entire contribution in Total Bond to get back closer to the target AA.
"In bull markets, people say 'The more risk I take, the greater my return.' But when people aren't afraid of risk, they'll accept risk without being compensated." -Howard Marks, Oaktree Capital

DrGoogle2017
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Re: Forgot to make my $5500 contribution for 2018

Post by DrGoogle2017 » Tue Jan 09, 2018 4:07 pm

It’s a small amount anyway. Take comfort in that. But I’m glad I converted to Roth at 1/1 and invested at 1/2.

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cfs
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Re: Forgot to make my $5500 contribution for 2018

Post by cfs » Tue Jan 09, 2018 4:10 pm

When you have a LOT of money things like this happen. But anyway, father time is with you, just do the contribution today and forget about it. Your money, your portfolio, your decision. Good luck and thanks for reading ~cfs~
~ Member of the Active Retired Force since 2014 ~

livesoft
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Re: Forgot to make my $5500 contribution for 2018

Post by livesoft » Tue Jan 09, 2018 4:39 pm

Start of 2013 was better than start of 2018.
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fastpace_re
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Re: Forgot to make my $5500 contribution for 2018

Post by fastpace_re » Tue Jan 09, 2018 4:42 pm

Thanks guys. I needed (and expected) these responses. I just needed to double-check myself that I was being ridiculous for giving this any thought.
flamesabers wrote:
Tue Jan 09, 2018 2:39 pm
You can't change the past, so there's no sense in kicking yourself for what you forgot to do last week.

Going forward, maybe you should set a reminder for yourself on Google Calendar (or whatever calendar you use) to make your IRA contribution on January 2?
It is actually in my task manager at the beginning of every year. Ironically, one of my New Year's Resolutions this year was to stop using the task manager and try to enjoy life without being so dependent on technology. Ha. Live and learn.

Thesaints
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Re: Forgot to make my $5500 contribution for 2018

Post by Thesaints » Tue Jan 09, 2018 4:44 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
That's terrible! Those $5,500 could have become $5,626 by now :o

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englishgirl
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Re: Forgot to make my $5500 contribution for 2018

Post by englishgirl » Tue Jan 09, 2018 4:53 pm

I have never had the spare change lying around to be able to make my Roth IRA contribution all in one go on January 2nd, and this year is no exception. How long do you plan to have the money invested for? Over a 40 or 50 year time period, those few extra days will not make much difference,
Sarah

deltaneutral83
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Re: Forgot to make my $5500 contribution for 2018

Post by deltaneutral83 » Tue Jan 09, 2018 5:37 pm

I only stay up until Midnight on Dec 31st into Jan 1 for the purpose of initiating the $5500 transfer into my Roth at 12:01, honestly that's what I'm celebrating, not sure what everyone else is drinking to. I hate wasting time.

H-Town
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Re: Forgot to make my $5500 contribution for 2018

Post by H-Town » Tue Jan 09, 2018 5:47 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
what's wrong with you? I maxed out 5,500 on Jan 2 and contributed $20k to taxable account on Dec 29. Yet I'm grunting now because the market keeps rising!! As a young accumulator, I'll get down on my knees and pray for the biggest crash in history. Be my guest and take your short-term earnings. I will take my long-term annualized earnings instead. With no big crash in sight, my long term earnings is very dim.

MrNewEngland
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Re: Forgot to make my $5500 contribution for 2018

Post by MrNewEngland » Tue Jan 09, 2018 5:48 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
I can't tell if this thread was made to be funny.

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wander
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Re: Forgot to make my $5500 contribution for 2018

Post by wander » Tue Jan 09, 2018 7:29 pm

Jags4186 wrote:
Tue Jan 09, 2018 2:41 pm
I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.
Where in Vietnam can you get by for $300 / yr ? In jungle?

MotoTrojan
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Re: Forgot to make my $5500 contribution for 2018

Post by MotoTrojan » Tue Jan 09, 2018 7:32 pm

thangngo wrote:
Tue Jan 09, 2018 5:47 pm
fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
what's wrong with you? I maxed out 5,500 on Jan 2 and contributed $20k to taxable account on Dec 29. Yet I'm grunting now because the market keeps rising!! As a young accumulator, I'll get down on my knees and pray for the biggest crash in history. Be my guest and take your short-term earnings. I will take my long-term annualized earnings instead. With no big crash in sight, my long term earnings is very dim.
Me too. I'd happily tax-loss-harvest and then buy stocks at a discount to today's prices for a couple decades; I know that would ruin some peoples lives though...

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badbreath
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Re: Forgot to make my $5500 contribution for 2018

Post by badbreath » Tue Jan 09, 2018 7:55 pm

Op

You failed, no retirement for you!
“While money can’t buy happiness, it certainly lets you choose your own form of misery.” Groucho Marx

daveydoo
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Re: Forgot to make my $5500 contribution for 2018

Post by daveydoo » Tue Jan 09, 2018 8:13 pm

Epsilon Delta wrote:
Tue Jan 09, 2018 2:54 pm
...you should be kicking yourself because it is bothering you.
:D +1
"I mean, it's one banana, Michael...what could it cost? Ten dollars?"

Jags4186
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Re: Forgot to make my $5500 contribution for 2018

Post by Jags4186 » Tue Jan 09, 2018 8:55 pm

wander wrote:
Tue Jan 09, 2018 7:29 pm
Jags4186 wrote:
Tue Jan 09, 2018 2:41 pm
I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.
Where in Vietnam can you get by for $300 / yr ? In jungle?
You can get a nicely upgraded tree house for $75.

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wander
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Re: Forgot to make my $5500 contribution for 2018

Post by wander » Tue Jan 09, 2018 10:58 pm

Jags4186 wrote:
Tue Jan 09, 2018 8:55 pm
wander wrote:
Tue Jan 09, 2018 7:29 pm
Jags4186 wrote:
Tue Jan 09, 2018 2:41 pm
I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.
Where in Vietnam can you get by for $300 / yr ? In jungle?
You can get a nicely upgraded tree house for $75.
I travel there, it is not cheap like you think unless you are the backpacker.

PFInterest
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Re: Forgot to make my $5500 contribution for 2018

Post by PFInterest » Tue Jan 09, 2018 11:07 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm
Forgot to make my $5500 contribution for 2018 on Jan 2.

And apparently the stock market has had the best start to a year since 1987.

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?

Ugh, I hate when little things like this bother me.
Yes you should.
Unless it were to drop before you contribute.
Then you shouldn't.

aqan
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Re: Forgot to make my $5500 contribution for 2018

Post by aqan » Tue Jan 09, 2018 11:22 pm

fastpace_re wrote:
Tue Jan 09, 2018 2:37 pm

Should I be kicking myself that I'm not getting my money in until today (or tomorrow)?
I’d be banging my head on the wall if i were you.

Jags4186
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Joined: Wed Jun 18, 2014 7:12 pm

Re: Forgot to make my $5500 contribution for 2018

Post by Jags4186 » Tue Jan 09, 2018 11:27 pm

wander wrote:
Tue Jan 09, 2018 10:58 pm
Jags4186 wrote:
Tue Jan 09, 2018 8:55 pm
wander wrote:
Tue Jan 09, 2018 7:29 pm
Jags4186 wrote:
Tue Jan 09, 2018 2:41 pm
I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.
Where in Vietnam can you get by for $300 / yr ? In jungle?
You can get a nicely upgraded tree house for $75.
I travel there, it is not cheap like you think unless you are the backpacker.
What about if you’re a rickshawer?

sco
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Re: Forgot to make my $5500 contribution for 2018

Post by sco » Wed Jan 10, 2018 2:32 pm

Missing out on 2-3% of $5500 bothers you that much?

Put it in today, and skip the insta-pot

newtonc
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Re: Forgot to make my $5500 contribution for 2018

Post by newtonc » Wed Jan 10, 2018 3:15 pm

You should not that worried about it, no use crying over spilled milk you know, get it in there today or tomorrow and then move on.

azanon
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Re: Forgot to make my $5500 contribution for 2018

Post by azanon » Wed Jan 10, 2018 3:34 pm

englishgirl wrote:
Tue Jan 09, 2018 4:53 pm
I have never had the spare change lying around to be able to make my Roth IRA contribution all in one go on January 2nd, and this year is no exception. How long do you plan to have the money invested for? Over a 40 or 50 year time period, those few extra days will not make much difference,
I know people that do this, and it's not as hard as it sounds, providing one is making the full contribution at least by the deadline. The "trick" is nothing more than being one year ahead of schedule. One could just over-save gradually to pull off something like that. Personally, I don't think it's worth the trouble and prefer the thought of dollar-cost-averaging throughout the year.

tibbitts
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Re: Forgot to make my $5500 contribution for 2018

Post by tibbitts » Wed Jan 10, 2018 4:13 pm

I never contribute until March or so of the FOLLOWING year. I've done corrections - too much hassle. And considering all the posts on here about correcting/recharacterizing contributions, probably some other people wished they did, too. You never know exactly how things are going to turn out until all the evidence is in.

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knpstr
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Re: Forgot to make my $5500 contribution for 2018

Post by knpstr » Wed Jan 10, 2018 4:17 pm

You still have a "few" months to contribute
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius

MathWizard
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Re: Forgot to make my $5500 contribution for 2018

Post by MathWizard » Wed Jan 10, 2018 5:08 pm

Don't worry about it.

I won't make my 2017 IRA contribution until March, when I have finished my 2017 taxes.

TheHouse7
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Re: Forgot to make my $5500 contribution for 2018

Post by TheHouse7 » Wed Jan 10, 2018 6:42 pm

Jags4186 wrote:
Tue Jan 09, 2018 2:41 pm
I’m afraid you’ll never be able to retire. If I were you I’d sell everything, buy bitcoin, move to Vietnam to lower your cost of living to about $300/yr and learn to drive a rickshaw.
+1 best watch out for bathtub alcohol :D
"PSX will always go up 20%, why invest in anything else?!" -Father-in-law early retired.

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