Monday, November 22, 2010

Before I file my taxes!

There is one thing that I need to do before I file my taxes, and that is make sure I max out my Roth IRA, I should have been contributing this entire year but I didn't so now I have 5 months to make sure that its maxed out. I am not filing my taxes without doing it. If I max it out I will have roughly $30,000 in retirement savings. It's not much but it is certainly a start.

I also want my husband to if not not max it out, at least put $2500 in it. He is in sales and does not have any retirement savings whatsoever and now is the time for both of us to get started on it (before the children and other obligations come).

I'm looking at my goals for this year and several of them didn't happen. I was more focused on the wedding planning and a lot of the money that I would have put towards savings and debt went to our destination wedding.

Are you maxing out your IRA, 401K, 0r 403B this year?


Anonymous said...

I am not contributing to my 401K or Roth IRA, because I am following Dave Ramsey's 7 Baby Steps.

Frugalista said...

I'm a 403b. I actually don't know what the max is but quite certain that I couldn't afford to meet whatever it is. I put in what I can out of every paycheck and hubby has his 401k going. when i get my next raise in July I plan to up my monthly contribution.