plush
Contributing Member
Cash: $ 5.90
Posts: 28
Joined: 06 Dec 2015
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| IRA deduction - Do I have to actually invest it, or can I .. |
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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
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