How I Plan To Max Out My Roth IRA This Year

Many people (including myself!) choose to invest in a Roth IRA for the tax benefits it offers and its simplicity.

It’s September and I still haven’t maxed out my Roth IRA for the year yet.

Don’t judge me!

I will admit, I have not prioritized this account as much as I should have. That will definitely change in 2023, as I plan to max it out as soon as possible next year.

As of right now, I’m nearly halfway to maxing it out, at 48% of the way there, with just over $2,900 in the account.

Now, here’s exactly how I plan to max it out:

2 Lump Sum Investments of $2,000 Each

That’s it, that’s the plan!

The first lump sum investment I plan to make will be this month, as I already highlighted in my “September Goals” Instagram post from earlier this month.

The second and final one I need to make will either be in October or November.

And then that will be bring me to $6,000 invested before the end of the year, which is the yearly limit for Roth IRAs!