Unique Roth contributions

02-28-2004, 10:48 AM

My opinion: Bad idea.

You can't borrow your way to prosperity. It just won't happen.

Can you pay it back, and still fund the 2004 roth?

Only you can decide. On the surface, the numbers work out and
say go ahead and do it. I still wouldn't do it.

"Dave" <Str8shooternva[at]yahoo.com> wrote in message
news:41403c27.0402271206.6c7c7d84[at]posting.google.com...
- quote -

> Due to some unforeseen circumstances in my finances this past year, I
> was unable to put my normal $3k aside for my annual contribution
> towards my Roth IRA. I am thinking about taking a cash advance from a
> credit card to make my contribution prior to completing my '03 taxes.
> What is anyone's opinion about this strategy? Should I just forgo
> making a contribution this year maybe? (my APR on this card is 9.9%,
> and I plan on paying it back within the year).
> Thanks!

#-1 02-27-2004, 07:54 PM

Due to some unforeseen circumstances in my finances this past year, I
was unable to put my normal $3k aside for my annual contribution
towards my Roth IRA. I am thinking about taking a cash advance from a
credit card to make my contribution prior to completing my '03 taxes.
What is anyone's opinion about this strategy? Should I just forgo
making a contribution this year maybe? (my APR on this card is 9.9%,
and I plan on paying it back within the year).

Thanks!

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