Wednesday, August 10, 2011
Now what do I do?
My original plan was to fully fund my Roth IRA by October 1st, but being anixious to accomplish my goals even faster, I was starting to think I could even have it fully funded by September 1st. I really never gave much thought to how the markets were going to be doing at that time. But, current events have changed that. I've contributed $3,000 so far this year, and have lost almost all of it already. I'm trying to decide if I should add the remaining $2,000 on September 1st. Obviously, I want to buy when the market is at its lowest, but I just don't know when that will be. Will the stock market bottom out soon? I'd hate to put my remaining $2,000 in on September 1st and then the markets are even lower later this year and I've already fully funded the IRA for the year. But, I also really want to accomplish my goal of fully funding my IRA ASAP. I wish I knew how much more the stock market was going to drop and what date it will bottom out. What do you think?