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Questionguy29 t1_jeck3ke wrote

> until 12/2023?

Btw for Roth IRA you have until tax day the following year to contribute. The money you're putting in is already taxed so it doesn't even matter if you've already filed your taxes.
Which means like right now, you can still contribute up to 6000 to 2022 Roth IRA until April 18, even if you already filed your taxes for 2022.
Then you can add up to 6500 for 2023 whenever you want from now until April 15 next year.
Just fyi

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PSCoso OP t1_jeckahf wrote

Whaaaaat?!!! I was not aware of that. So in this calendar year I can invest essentially whatever is left from 2022 + 2023?!

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Questionguy29 t1_jeerz4h wrote

> in this calendar year

For 2022 contributions, only until tax day 2023, which is April 18 this year.

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PSCoso OP t1_jefdqnx wrote

Thanks man! I saw Schwab portal let’s you specify which tax year on deposit, so good stuff

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Grevious47 t1_jecfnp7 wrote

This year the make is 6.5k not 6k just FYI. If you can max it now and still have savings for an emergency max it now. If that would eliminate all your savings then just add to it each month.

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PSCoso OP t1_jeck4bi wrote

I’m at 25k on savings, 3month emergency fund is 5k. Thanks!

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Grevious47 t1_jeco8o0 wrote

i mean if one month of your expenses is truly only $1.6k then sure you can just put 6.5k into Roth from savings now.

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meamemg t1_jeclcvd wrote

The sooner it goes into a Roth IRA, the sooner you get to stop posting taxes on the earnings.

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rylprm t1_jeclrif wrote

Generally, time in market wins over longer time horizons; so, lump sum.

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