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I put in 1% of my portfolio a few months ago. Don't mind if it goes to 0 (it won't), and there is always the off chance of another spike. Doesn't hurt.

So I need to fill out this form twice a month if I make contributions twice a month?

Andre, thanks for the reply, I will open one then. Beer, I don't think I will be able to roll into a Roth because within a few years my salary will be more than $120,000 or whatever the limit is for Roths. However, I am interested in learning about this 8606 form. I do not know much about doing...

My employer has a 401k option that I put money into each month. I have read that if you make more than $60,000 a year and have an employer sponsored retirement plan, like I do, that you cannot tax-deduct any contributions to an IRA. Is this true? Does this make a traditional IRA worthless for...