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Basic info – retirement is 30+ years away, fully funded emergency fund, already contributing up to the 401k match for my company, already fully funding HSA, have $6k to put into some type of account. Not sure if now is a good time to put into a Roth IRA or should i put it elsewhere? I have a Fidelity account already. TIA!
I put 12k in my Roth, and 12k in my wife’s Roth back in January ($6k for 2021, $6k for 2022).
I’ve taken a bit of a beating since then, but in the long run it’s not going to matter. We’re 30+ years away from retirement as well.
Time in the market > Timing the market
If I had to choose between
1) fully funding retirement accounts in Jan or
2) fully funding them in equal increments throughout the year
I’m going to choose 1. It gives me an extra half year of growth
>Not sure if now is a good time to put into a Roth IRA or should i put it elsewhere?
Put it elsewhere and do…what? The stock market’s on sale, buy now. Yes, the sale price could go lower but it’s a 99.989% guarantee the market will be higher in 2053 than it is today so why wait?
“Now” is ALWAYS a good time to fully fund your retirement accounts.
The best time to invest was years ago. Next best time is today.
Time in the market beats timing the market
And all that jazz.
Yes, the stock market is DOWN, it’s GREAT time to invest.
Believe you can find 2021 and 2022 right now if you haven’t done 2021.
Asking if it’s a good time to fund an IRA sounds a lot like timing the market. Generally speaking, if you’re asking if it’s a good time to invest then the answer is “you should’ve already invested by now”.
You have 30+ years until retirement, even if the market drops lower than it is right now later this year it’ll only be noise and you’ll be better off more often than not than those who try to wait to buy in at the low.
tl;dr – Yes.
Yes, if this is a market timing question lump sum investing (putting all your investable cash in now) has shown to be better than both market timing and dollar cost averaging. Here is an article which discusses the study: https://www.cnbc.com/2021/08/12/which-investment-strategy-is-better-lump-sum-or-dollar-cost-averaging.html
Put it in, but remember you might have to stomach some more falling. Don’t panic
Math says dump it all into the Roth as early as you can. No sense in trying to time the market. Nobody can reliably accomplish that.
I always max my Roth IRA the first week of JAN every year. The whole time in the market vs timing the market…
Follow the PF [flowchart!](https://i.imgur.com/lSoUQr2.png)
If you haven’t contributed 6k for 2021, do it now. If you can add 6k for 2022 now, do it. The earlier the better.
Be wary of stock market crash and valuations, start a little conservative with a mix of bonds and reliable stocks.
I mean you don’t know what is going to happen, this year could be like 2008, where 1st quarter was bad, and the year got worse. Or a year where the 1st month was bad and then levels normalized.
That said lets say you invested $10k in Schwab’s S&P500 index fund (SWPPX) on Jan 1, 2008, about the worst time to make such an investment. Even today it be worth about $39,300 ; or a 10% average annual return.
If you had done this in Jan 1, 2000 (which would have been even worse than Jan of 2008) it still have averaged about 7% per year (be about $44,500)
And those are *bad* years, but given enough time it shows that if you are in it for the long term it usually averages out.
Beginning of the year is the best time to contribute to your roth, or any retirement account with yearly limits. The money is in the market for 99.99% of a year more than if you put it in Dec 31st of that year
Put the cash in if you have it, you can always dollar cost average from there. I usually do that, I’ll put in let’s say 1000$ every few months but every few weeks I’ll buy my stocks
I think you are confusing yourself here
putting it in an ira does not means investing. ira is a type of account you put you money in and can then invest from. you can still put your money in an ira and… just not invest it if
Just like your 401k and HSA
So yeah ira will give you tax benefits put it there, but if you question is about to invest it or not then that is a different question.
I mean you got lucky having the big dip seemingly already happening this year, but in the future you should be funding on January 2nd each year.
I have been the past few weeks because I didn’t fully contribute the 6k to my ROTH last year and can still do it for 2021. Market took a hit, seems like a great time to me.
Time in the market >>> timing the market. Get that $6k in as early as possible. Especially now with the market going down, if you can afford to drop in $6k today, do it. I’m hoping to get to the point in the next two years to drop in my full amount Jan 1 each year without dipping to EF savings. DCA-ing over the first six months of this year since I can’t drop it all it at once. Now is an excellent time to fund retirement accounts.
Yes. Especially since its a long term investment.
You should always max a Roth IRA if you have the funds and qualify. If you aren’t sure if you might need the money, you can always just withhold the allocation part and keep it as cash equivalent. You can withdraw the contribution in the event you need the cash.
Yes. Stock market is in correction mode. I usually contribute all al once and try to hit it during a correction or downtime. Rarely do I even nail it. I unusually buy in on the way up or way down
I had the same question… I can fully fund the $6k now, but my friend (former Fidelity advisor) said put it in but don’t invest it all now. I have a hard time understanding that because what good is the sitting money going to do? She’s pro dollar-cost averaging over the next few months, but I’m not too sure.
Additionally, I think I’m on the cusp of the MAGI 2022 limit so I don’t know if I can actually put in the full $6k?
It’s a retirement account you’re 30+ years away from retirement, so yes, the sooner the better.
Theoretically yes but 401k and IRA are really about the long game. Up or down a year or two doesnt really matter.
Isn’t the roth ira contribution a “use it or lose it” every year? So every year you’re not contributing, you’re not only losing the opportunity cost but also that contribution room, forever.
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