I contributed the maximum of $4000 to my Roth IRA at Scottrade. This deposit allows me to meet the minimum requirement for the Scottrade Elite platform. I downloaded the software, but have not used it yet. One of the features I looked forward to was the Level II quotes but I just learned that Scottrade charges $10 a month for it. I can get free Level II quotes from my non-retirement brokerage accounts so I wouldn’t be paying for it at Scottrade. I like to deposit money early in the year because I do a lot of trading and the extra funding gives me more buying power.
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I take a completely opposite strategy. I contribute to my Roth IRA as late in the year as possible. One’s eligibility to contribute to a Roth is determined by income in the contribution year, and I’m not sure if I’ll qualify until I get a clearer picture of my income throughout the year. Assuming that you file as single, you can’t contribute the maximum to a Roth if your AGI is more than $95k. You can withdraw the excess to avoid a penalty, and put it into a traditional IRA, but that involves some messy dealings with the brokerage.
Anyway, don’t take it the wrong way. I’m saying that you’re probably getting close to the income limit. Since you seem to be a good stock picker, a good year might put you over…
[...] For the year of 2007, the contribution limit is $4,000 for individuals under 50. Individuals who are 50 and older may contribute a maximum of $5,000. As posted earlier, I have already contributed my maximum limit to the Roth IRA. Personally, I feel the limit is low, so I have been contributing the maximum every year. Also, I like to fund the Roth IRA early in the year because I actively trade in the account. There are huge advantages trading in an IRA account, but there are also tremendous risks. Consult a professional before you start trading frequently. [...]