Additional Contribution to Wife’s Roth IRA

With the market down, my wife suggested that now would be a good time to do another contribution to her Roth IRA, which is invested in the Vanguard 500 Index Fund.

She opened her Roth IRA back on May 8, 2007 by purchasing $3,000 of Vanguard 500 Index Fund at $139.02/share. It is now trading at $132.16/share. With $1,000 left to fully fund her Roth IRA for the year, we decided to invest another $500 this month. We will likely invest the final $500 in her Roth IRA next month to get her to the $4,000 fully funded level.

After her Roth is fully funded, we will have just $1,000 left for my Roth IRA to be fully funded for the year, which will likely be done just before year end.

That will bring us to a total of $8,000 invested for the year in our Roth IRA’s. Next year, the maximums increase and we will be able to invest up to $10,000 in our Roth IRA’s ($5,000 in each) . Good stuff.

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