Payroll Deduction Roth IRA's

[Guest GDC CFP]

I am interested in setting up a Roth IRA via payroll deduction with a mutual fund company. Does anyone know of any no load fund families that will let someone contribute to a Roth IRA by having $25 deducted bi-weekly with a small opening deposit. The best thing I have found so far is a $500 minimum with a $50 payroll deduction minimum. Thanks.

[John G]

I guess your question hit the a blind spot with the folks who comment on this site. I don't know the direct answer to your question but I think I can recommend a work around. Instead of having a payroll withdrawal, you may be able to arrange a automatic "check" to draw upon your checking account. This could be done once a month for a slightly larger amount. Many mutual fund companies can facilitate this.

If that does not work, try the more conventional route of writing a periodic check. In a few years, your circumstances may enable you to meet the mutual fund requirements. Good luck.

[This message has been edited by John G (edited 12-18-1999).]