Last chance to set up a 2013 Roth IRA & a reason to do so

Have you filed your 2013 taxes?  If not, you can still make a Roth IRA contribution for 2013. My post on saving for retirement outlines some of the benefits of a Roth IRA. However, I missed out on a compelling reason, especially for those who may be hesitant to commit the money. You can withdraw your contributions for any reason with no penalty at any time.  How amazing is that?? You could incur penalties for withdrawing your earnings on that money, but you can withdraw up to the amount you contributed at any point in time, penalty free.  (For full withdrawal rules on earnings, check out this post by the Oblivious Investor.)

Because you can always take out the money you contributed, it makes sense to put as much savings as you can here. Obviously, if possible, it's ideal to leave the money there for retirement and truly maximize the benefit of starting early, but even if you need the money later down the road, you can withdraw some of your contributions and still leave the interest you have earned in the account.  Most importantly, I think this helps alleviate the fear of putting this money away that prevents people from putting money away for retirement.

  

Website Wednesday - TaskRabbit

Have you heard about TaskRabbit?  This summer I was researching easy ways to save or make money, and I stumbled across an article from CNN Money that praised the site. Background checked (they require your social security number) Task Rabbits are eligible to bid on tasks posted.  Posters can either set a fixed price or let Rabbits make offers.  Rabbits are rated by Posters so Posters have information on past performance when selecting a Rabbit.

Tasks vary and can be skilled or unskilled but often include things like moving furniture, doing minor home repairs, event help, and online data collection.  I joined the site this summer (after extensive research on them before giving them my social security number). All of the tasks I've completed so far have been virtual, but have included reading and reviewing books (discovered a great author that way!), trying and reviewing a beta version of a cell phone game app, and providing feedback for product reviews.  

I've found it to be an easy way to generate some extra money without taking on a part time job.  The screening process makes it safer than Craigslist.  It can also be a great way to get odd jobs done for a reasonable price.  A friend in another city bought a piece of furniture on Craigslist and then found a Task Rabbit with a truck to pick it up and transport it, resulting in big savings for her.

Check it out, and let me know what you think!