IRA in Business

In which I talk about my progress on getting an IRA set up and my retirement savings reallocated (#7).

I opened an IRA before the tax deadline, so was able to max it out for 2011. I’ve already contributed for four months of 2012 and am on my way to maxing it out this year as well. But contributing to the IRA is only half the objective — once the money has been transferred into the account, I have to decide how to invest it. I started with a few high-growth mutual funds and bought my first stock (Apple, in minuscule amount).

I’m still contributing to my 401k and getting the full value that my employer matches. I chose to double up my retirement accounts so that I have a place to roll over my old 401k and an account that I can continue to fund when I am not working. I still need to roll my old 401k over, but I’ve requested the proper forms and just need to get into a branch so they can help me do it properly so I don’t incur any fees.

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