Monday, April 14, 2008

Going ahead with the Fidelity Freedom Fund 2025 for my 2007 Roth IRA contribution

As I discussed previously concerning my 2007 Roth IRA contribution, I finally decided just now to go ahead and use my entire 2007 Roth IRA contribution to buy a position in the Fidelity Freedom Fund 2025 (FFTWX), a so-called "life-cycle target-date fund" on the presumption that I will be retiring roughly around 2025. Boom. Done. Well, my decision is done and the order is placed, but the order has not executed yet. That will take a few more hours. I will not have to even lift a finger again until I actually retire and want to start drawing out money in another 17 or 17 years or so.

For now, this account is officially on auto-pilot. I'll check up on it on occasion, but I do not anticipate any additional action on my part other than making annual Roth IRA contributions.

I'll make my 2008 contribution as soon as I am confident that my income will not exceed the contribution threshold. Since I am over 50 years old, I believe the 2008 contribution limit will be $6,000.

-- Jack Krupansky


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