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


Anonymous 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.