Minimum limits - Roth

[teejayevans]

Ok, here is the problem:
You make too much money to invest the maximum to a Roth IRA ($4000).
Lets assume your max is $2000. Both Fido and VG have a minimum limit,
and $2000 isn't enough, what do you do?
TJ

 

[Olav23]

Can you throw more towards the 401k? I think T Rowe Price has a lower limit, if you're willing to go a little more active management. You could always transfer in the future after you build it up.

 

[justin]

VG Star Fund at $1000.

Or, wait till Jan 1 - Apr 15 2008 and make two $2000 contributions at the same time, totaling $4000.

 

[SecondCor521]

Try Vanguard's STAR fund

Ok, here is the problem:
You make too much money to invest the maximum to a Roth IRA ($4000).
Lets assume your max is $2000. Both Fido and VG have a minimum limit,
and $2000 isn't enough, what do you do?
TJ

Vanguard has a $1,000 minimum on the STAR fund (VGSTX). You could start with that fund and then when the account gets past $3K you could roll it into any of the other Vanguard funds.

2Cor521

 

[Deetso]

With Fido you could do the "simple start" plan- minimum $200 a month deposits. If you set it up they will waive the minimum amount requirement.

Then just set up your monthly deposit amount to not exceed your limit for deposits in a year.

Then come January (and every year after) you can fill it as you would like.

 

[teejayevans]

Vanguard has a $1,000 minimum on the STAR fund (VGSTX). You could start with that fund and then when the account gets past $3K you could roll it into any of the other Vanguard funds.
2Cor521

Thanks, I think that will work. Option 2 would be just to call them up, and
since I have money in other accounts, ask them to wave the minimum
requirement. Some things you just can not handle via the web site.
TJ

 

[Goonie]

I think T Rowe Price has a lower limit, if you're willing to go a little more active management.

You can open a Roth IRA at TRP with (I believe) $100...IF you use the automatic asset builder, which is merely an automatic monthy balance transfer from your bank account. That transfer can be as low as $50 per month.

That's why I chose TRP when I first opened my Roth IRA. I didn't have a big chunk of $$ to put in at the time, and they didn't require one! And it doesn't require much attention at all.....Set it, and forget it!

As Deetso said,

Then just set up your monthly deposit amount to not exceed your limit for deposits in a year.