Monday, January 08, 2007

15 Resolutions for 2007

  1. Master low-light photography
  2. Purchase more buttoned-down shirts at Target
  3. Figure out whether I need a Roth IRA
  4. Dare to buy frozen Mahi-Mahi at Trader Joes
  5. Curb appetite for consumer electronics
  6. Wear fewer t-shirts with clever sayings
  7. More Kafka
  8. Implement sorbet-only diet
  9. Take a roadtrip through California
  10. Stop being angry that I don't use my gym membership and instead be content that $10.00 per semester is a bargain
  11. Once again become Iron Chef America
  12. Be more skeptical about Google
  13. Go to the movies more than once a semester
  14. More traveling to India and Pakistan // Less Campylobacter and Giardia
  15. Eventually stop watching reruns of Everybody Loves Raymond

2 comments:

Justin said...

Roths are ideal for people in our situation (young professionals just beginning to earn real money), because you are contributing after-tax dollars. This means that unlike a traditional IRA you won't pay any tax upon withdrawal. This is great for people who expect to be in a higher tax bracket at retirement than they are currently.

So the answer is that you do need a Roth IRA, but unfortunately you will only be able to contribute for a couple more months, as the ability to contribute is completely phased at around $90,000 in income for an individual ($160,000 for married filing jointly). An alternative is the Roth 401k, which some employers are starting to offer, although I haven't heard of any law firms offering it.

A.H. Rajani said...

i can always rely on you, justin.