Author Topic: Maxed IRA for 2016  (Read 4140 times)

brooklynmoney

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Maxed IRA for 2016
« on: January 02, 2016, 04:06:25 PM »
This is like the 5th year in a row that I maxed my traditional (non-deductible boo) IRA for the tax year (2016) on the first day of the year. I'm sure I am not unique in this accomplishment among my fellow Mustachians.

Yankuba

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Re: Maxed IRA for 2016
« Reply #1 on: January 02, 2016, 04:14:19 PM »
Thanks for the reminder. Going to do it now...

MM_MG

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Re: Maxed IRA for 2016
« Reply #2 on: January 03, 2016, 09:07:34 AM »
I did the same thing…except because of the holiday it will not process until Monday. 

JPatch

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Re: Maxed IRA for 2016
« Reply #3 on: January 04, 2016, 10:04:40 AM »
Did the same thing first thing New Year's morning ;)

I know market timing is a dirty word, but I'm glad it's processing on a day that the market is down.

fattest_foot

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Re: Maxed IRA for 2016
« Reply #4 on: January 04, 2016, 10:28:03 AM »
I'm hoping maybe next year we can do that. We hadn't maxed our IRA's since probably 2006 or 2007, but we did about 2 weeks ago for 2015.

I just wish I could make up for those lost years. I'd probably be close to FIRE right now had I continued investing.

Tjat

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Re: Maxed IRA for 2016
« Reply #5 on: January 04, 2016, 10:32:01 AM »
Congrats. I didn't want to sell any taxable investments so I'm waiting to max out mine next week (first paycheck includes tuition reimbursement, which coincidentally equates to just over 5,500). Spousal contribution will probably occur at the end of Q1.

Wishing I had some cash on hand on take advantage of the market today. Though I never have cash on hand since it goes straight to Vanguard...

charis

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Re: Maxed IRA for 2016
« Reply #6 on: January 04, 2016, 10:34:59 AM »
I have cash today that will go to our Vanguard IRAs for the first of 2016, although not enough to max unless I use most of the EF, which would probably be a good idea, but I don't know if I have the stomach for it. :/

mrteacher

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Re: Maxed IRA for 2016
« Reply #7 on: January 04, 2016, 10:47:06 AM »
Maxed mine out this morning. Not the first time I've maxed out for a year (done it for the last two), but the first time I've maxed it out on the first day possible! Pumped!

brooklynmoney

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Re: Maxed IRA for 2016
« Reply #8 on: January 04, 2016, 08:55:27 PM »
Glad to see the market is rewarding us maxers with favorable investment conditions today!

MrDelane

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Re: Maxed IRA for 2016
« Reply #9 on: January 04, 2016, 09:08:14 PM »
Maxed out both mine and my wife's IRA today.
First year we've done that in the first week of the year.

Also on track to max out both 401Ks this year for the first time ever - thanks to this community.

Roland of Gilead

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Re: Maxed IRA for 2016
« Reply #10 on: January 04, 2016, 09:23:48 PM »
I have no income this year :-(

Gotta mow some yards or something to get earned income.   Will be the first year I miss a Roth or IRA in over a decade.

MrDelane

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Re: Maxed IRA for 2016
« Reply #11 on: January 04, 2016, 09:59:28 PM »
I have no income this year :-(

We're only 4 days in.
Hang in there.

AustinKat

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Re: Maxed IRA for 2016
« Reply #12 on: January 04, 2016, 10:13:06 PM »
Yup, did mine this morning. Only time of year I'm glad of a down market.

ditheca

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Re: Maxed IRA for 2016
« Reply #13 on: January 04, 2016, 10:51:15 PM »
Having some cashflow issues... we aren't as on top of things as some of ya'll.  But I just stuck an extra $3000 into DW 2015 spousal IRA!

irishbear99

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Re: Maxed IRA for 2016
« Reply #14 on: January 06, 2016, 11:36:29 AM »
This is my first year maxing out at the beginning of the year, too! (For the record, last year was the first year ever I maxed my TSP and both my and my husband's Roths.) $11k to Vanguard on January 4. One of my financial goals this year is to set enough aside in savings to be able to do the same thing next January for our 2017 Roths.