Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Auto IRA funding - For previous year
Old 04-22-2008, 07:55 PM   #1
Full time employment: Posting here.
 
Join Date: Jul 2004
Posts: 512
Auto IRA funding - For previous year

Has anybody made previous-year IRA contributions either via the mutual fund's automatic investment plan or by your own BillPay system? If so, how did you indicate to the fund compay that the investment was for the previous year (i.e. a 2007 contribution made in 2008?

It has been my experience that most fund families default to current year.
gindie is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-22-2008, 08:18 PM   #2
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 47,329
When you contribute to a Vanguard IRA online, you must designate to which year your contributions are to be applied.

I haven't contributed to my Vanguard IRA by automatic investment, but I am sure you will be required to designate the year.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.

Happily retired since 2009, at age 61. Best years of my life by far!
W2R is offline   Reply With Quote
Old 04-22-2008, 10:48 PM   #3
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
Quote:
Originally Posted by Want2retire View Post
When you contribute to a Vanguard IRA online, you must designate to which year your contributions are to be applied.

I haven't contributed to my Vanguard IRA by automatic investment, but I am sure you will be required to designate the year.
That's how T. Rowe-Price is. I have a Roth IRA there, and had it set up for the automatic investing. There was a place on my TRP account web-page to designate which year (current/prior) you wanted the contribution to apply to. In '07 I had it setup for Jan-Mar to be prior year....to max-out for '06, and then April to be current year.

As for doing random ACH transfers into my IRA, there was a box to check for either current or prior year on my TRP account web-page.
Goonie is offline   Reply With Quote
Old 04-23-2008, 02:31 PM   #4
Thinks s/he gets paid by the post
jIMOh's Avatar
 
Join Date: Apr 2007
Location: west bloomfield MI
Posts: 2,223
T Rowe Price has a page where you look at contributions

I put $281.25 into fund A each month
$93.75 into funds B-C-D
$62.50 into fund E etc..

on same page it asks which months to contribute (I send in $625, so I turn off sept-oct-nov-dec), on same page it asks what year jan-feb-march and april are (current or prior year).

Default is current year.

I have made changes to this because I could not afford $625 when I started the IRAs, so it took me 15 months to max out a few years ago.
__________________
Light travels faster than sound. That is why some people appear bright until you hear them speak. One person's stupidity is another person's job security.
jIMOh is offline   Reply With Quote
Reply

Tags
ira


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Inherited IRA, when to take RMD this year? Gworker Other topics 11 01-28-2008 01:38 PM
Denied Insurance Due to Previous Illness Johnzo Health and Early Retirement 13 10-28-2007 03:37 PM
Take A Hit on IRA For a One Year Break? mikex FIRE and Money 16 05-13-2007 07:11 PM

» Quick Links

 
All times are GMT -6. The time now is 09:59 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2023, vBulletin Solutions, Inc.