start an ira now or after the new year?

[CMK]

question in the subject line says it all

 

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[Edge]

Tough to answer without knowing your reason behind the question.

If you question is around contribution limit timing, then it really doesn't matter if you do it now or early next year. As long as you contribute before tax day you can still contribute towards your 2008 limit in early 2009.

Have you identified why you want to start an IRA? It's a great vehicle for some investments, not so much for others. I'd answer this question first and that should help your timing fall in place.