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When to Make Your Contributions

Taxpayers typically have until their taxes are due to fund a traditional IRA or Roth IRA for the previous tax year. For example, taxes are due on April 15, 2009 for income earned in 2008. You have until April 15, 2009 to fund your IRA and claim a deduction against income earned in 2008.

However, the earliest you can fund an IRA for 2008 income is January 1, 2008. That is fifteen and one-half months before the latest funding date of April 15, 2009.

If your IRA earned eight percent, funding it on January 1, 2008 instead of April 15, 2009 could mean a significant difference in its value over time. For example:

 
IRA Contribution
January 1, 2008
IRA Contribution
April 15, 2009
Amount you contribute
$5,000
$5,000
Balance on Dec. 31, 2009
$5,864
$5,290
Difference
+$864
+$290
Assumes a hypothetical 8% annual return, compounded monthly. This example is for illustration only and does not predict or guarantee the performance of any Wells Fargo Advantage Fund.®

The longer your money stays invested, the harder it can work for you. Fund your IRA at the earliest possible date and you could benefit.

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This Web site is accompanied by current prospectuses for Wells Fargo Advantage Funds®, an EdVestSM program description (PDF), and a tomorrow's scholar® program description (PDF).

For 529 plans, an investor's or a designated beneficiary's home state may offer state tax or other benefits that are only available for investments in that state's qualified tuition program. Please consider this before investing.

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