The American Dollar
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Our Story: Both my wife and I are 27 years old and have gone through financial hell and back. Now we are on track to financial freedom, however we are not financial advisors or professionals, just everyday people. Share our journey from a negative networth and email us if you have questions or comments! :)



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Sunday, January 08, 2006

2005 Roth IRA

Transfered $200 into each of our IRA accounts today online. Spoke with a customer service rep over at T Rowe Price where our IRAs are held. He informed that we both had approximately $3,000 remaining each (contribution levels are 4k for 2005). I am halting paying off the mortgage for 2 months to max out the Roth for 2005. I will then start paying down the mortgage in April with the extra income. Since I have maxed out the 401k this year I have neglected the Roths this entire time. That is why contributions into the Roth for 2006 will be automatically deducted at the beginning of each month out of the checking.

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Emergency Fund
40%
$25,000
2007 Roth Contributions
$8,000 Total



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