2018 Roth IRA contribution using 0% APR loan + 3% fee

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by PromoJoe

I’m about to start contributing to my 2018 Roth IRA in November and will deposit $1500 but I am thinking about taking up an offer from my credit card provider to meet the 5500 contribution limit immediately, way before contribution deadline in April 2019.

I can get $4000 for 12 months 0% APR + 3% balance transfer fee. This would allow me to immediately use the funds to purchase 2x AMZN and 1x GOOG. I’m also considering buying up as many multiples of IVV ETF.

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Would this be a decent move? Otherwise, I wouldn’t be able to contribute the remaining $4000 until January-April 2019. I’m looking for feedback on this plan, I think it should work out fine but I’m not fully committed to the idea just yet.

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edit: grammar

update: After some consideration, I will not be pursuing this idea. I’ve gathered that there are certain risks I had not initially considered. However, I do realize that I should align myself with news sources regarding investing to better perceive the current state of the market.


Disclaimer: Consult your financial professional before making any investment decision.


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