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Auto Investment Day

April 22nd, 2008 at 06:20 am

Every month at this time, we have our Roth IRA investment money deducted automatically from our checking account. Right now we are each investing $432 per month.

Yes, I'm aware that that would put us over the $5,000 minimum investment for the year. For three months we were investing the amount to get us to $4K. We added a little extra to get us to $5K by the end of the year.

It feels good to have it happen automatically. It's just done and I don't have to think about it other than to record it in the checkbook. And because it is on auto, I don't think to spend that money elsewhere.

Posted in Saving | 3 Comments »

3 Responses to “Auto Investment Day”

  1. Broken Arrow Says:
    April 22nd, 2008 at 08:51 am

    Sooo... do you have to do anything particular if it's over? Like maybe on the taxes or something?

  2. creditcardfree Says:
    April 22nd, 2008 at 01:21 pm

    We won't be over, because of the lower amounts we put in the first few months of the year. But if you do go over the money has to come back out, otherwise you are penalized by the IRS. If this would be the case with anyone contact the customer service department for your investment. They will know what to do...or they should!!

  3. Caoineag Says:
    April 22nd, 2008 at 03:53 pm

    I love that about mine as well. If I never see the money, then its no big deal that it was "spent". Very handy.

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