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When can you contribute to 2014 IRAs?
Old 10-01-2013, 09:40 AM   #1
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When can you contribute to 2014 IRAs?

Does anyone know how early one can contribute to next year's IRA? I assume that it usually is not until the IRS publishes the contribution limits. And even after those are published, I would imagine the major brokerages aren't allowed to permit contributions before a certain date.

I have $5,500 +/- sitting in cash in an Am Ex High Yield Savings account (85 bps/APY) waiting to invest for my 2014 Roth IRA contribution.

If the start date for contributions isn't until Jan 1, 2014 - are there any bond funds that you recommend putting that money in the short term? I am earning minimal interest on it (85 bps). Just curious if you are aware of less risky bond funds that could generate a couple hundred bucks from this money in the mean time. If I can, might as well, right?
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Old 10-01-2013, 09:52 AM   #2
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Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions. For most people, this means that contributions for 2012 must be made by April 15, 2013, and contributions for 2013 must be made by April 15, 2014.
ie Jan 1, 2014 thru Apr 15, 2015

Publication 590 (2012), Individual Retirement Arrangements (IRAs)
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Old 10-01-2013, 12:59 PM   #3
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$200 / $5500 = 3.6%, and you're only talking 3 months. That's an annual rate of 15%, with no risk right?

Your 0.85% is going to be about it. Shop around for 0.90% online savings accounts, or take a flyer on something with more risk.
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Old 10-01-2013, 01:40 PM   #4
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Originally Posted by Animorph View Post
$200 / $5500 = 3.6%, and you're only talking 3 months. That's an annual rate of 15%, with no risk right?

Your 0.85% is going to be about it. Shop around for 0.90% online savings accounts, or take a flyer on something with more risk.
+1

Savings account.
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Old 10-01-2013, 02:17 PM   #5
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I don't know why I asked such a dumb question on generating a low risk return over a 3 month period. My brain must be slow today. As Tommy Boy would say, I should be pounded on the head with a tac hammer!
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Old 10-01-2013, 02:21 PM   #6
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I don't think you asked a dumb question.
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