IRA in my Future

In which I post a little progress on getting my IRA set up (#7).

Last year, I saved money to my regular savings account but earmarked it for my unopened IRA. You can contribute to and IRA for the last calendar year before the tax deadlines, so I need to get on setting things up. I know which IRA I am going to open, and made some calls this week to clarify a few points.

I’ll be opening a Roth IRA, and converting my old 401k and employee stock option plan into my Roth IRA. But that means I’ll have to pay the taxes on my previously untaxed savings. I’ve been having some trouble getting my address changed with them,but it turns out that I should set up the IRA before requesting the rollover anyway.

So, at least I now have a plan. I still hope to open my IRA and fund it for last year this month, but time is getting low. We’ll see how that goes.