There’s Still Time to Fund an IRA

I know- no one likes to talk about taxes during tax season.

The filing deadline is 11 days away.

It’s not too late to put some money into an IRA. There’s a myth that you have to fully fund it with the full amount - $4000 or $5000.

Do you have $500 sitting around? I know, during this belt-tightening time- you may not. But maybe you do.

Even if you put just $500 into an account, it will grow for you over the next few decades. You’d be surprised what $500 can do.

Maybe you don’t have any extra cash right now so you can’t fund your IRA for 2007. You can still start funding an IRA for 2008 and do it slowly.

I’m a big believer in putting a little bit of money aside every month.

I’ve talked about sharebuilder before and am a big fan of it. Sharebuilder.com (now owned by ING) allows you to put whatever amount you want, say $100 or more a month, into either a traditional 401k or a Roth 401k.

If you do $100 a month, that’s $1200 for the year. It’s pretty easy to do. And it adds up.

Forget about the big lump sum. Investing can be painless if you do a little bit every month.

Start today.

$50 or $100 a month.

And no- I’m not being paid by Sharebuilder to write this post. (ha!)

I AM a sharebuilder customer however. Since 2000.