Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    




IRA deduction - Do I have to actually invest it, or can I ..

Reply to topic
Money Talk > Taxes

Author Thread
plush
Contributing Member


Cash: $ 5.90

Posts: 28
Joined: 06 Dec 2015

IRA deduction - Do I have to actually invest it, or can I ..  Reply with quote  

I took an IRA deduction on my 2019 taxes and have until tax day to invest the money. I opened an IRA with Schwab and deposited my $6,000 in it. Due to market volatility, I'm not sure I want to actually invest that money until things stabilize a bit more.

My question is, do I NEED to make my purchase (SWPPX is what I'm planning to plunk it in... eventually), or can I still be in-the-clear by simply funding that IRA and having the money sit, uninvested?

Thank you
Post Tue Mar 17, 2020 4:28 pm
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      





Money Talk © 2003-2018