Question by Thomas D: How do I invest my money in a Roth IRA?
A friend told me that I should put my money in a Roth IRA for my future investments and retirement. I don’t know much about it and/or how to put my money into one but I am curious. I am a 17 year old emancipated minor in California who has a bank account already and a job.
Thanks for all the help in telling me what a Roth IRA is and how to put my money in one (if I even should) in advance.
Best answer:
Answer by brad
I had opened an ira a few years back through my local brokerage. An ira is good for gains made and not paying the regular taxes on them. good for someone looking to retire with a nestegg. If you need access to the cash or may change your mind within a few years? Don’t get one. if you take out too soon under the rules, you will be charged the taxes. I’m not sure if 17 would be eligible either?
Know better? Leave your own answer in the comments!
Question by Sje: Roth IRA help – What type of funds to invest in for someone who knows little about investing?
I’m 34 and want to start a Roth IRA for myself and plan to to contribute the max amount in one contribution each year. I know I want to go with either Fidelity, Vanguard, or T. Rowe. I know very little about investing and would like to feel secure with the investment. I know there are too many funds to choose from and I don’t understand them. Thanks for your suggestions.
Best answer:
Answer by Shana B
I know Fidelity (and probably the others too) has funds that are named by the year that you plan to retire (so you’d pick fund for the year 2040) that will automatically redistribute your money to be more aggressive when you’re younger and more conservative and safer as you age. They mix it up b/w stocks, bonds, and cash for you.
What do you think? Answer below!
And by individual stocks, I don’t mean the company’s stock. I’m talking about non-employer stocks traded on an exchange.
In addition, do most 401k plans allow the participant invest in any mutual fund of his/her choice? Or do most 401k plans offer only a limited mutual fund selection?
*I know plans vary. But, this is just a general question.
Now that we are reaching a critical mass of having a future of more people drawing it than paying in, wouldn’t it be a good way to keep the program from collapsing?
And they could enforce it by charging a huge tax penalty to anyone who opted out and did not invest in their retirement.
We are a couple.We both have roth IRAs and are planning to retire 30 years from now.Anybody know about some good “American funds” that we can invest into our Roth IRAs?Thanks
I have around 40K in funds and Roth Ira, if I didn’t contribute anything to Roth Ira, do I still have to file anything because I have it?
I’m going to be 20 and have Simple and Roth Itas established.Out of my money, about 6% goes to the simple and about 3% goes to the Roth. All of this is done throu the adviser. How well off will I be and at what age I will be able to retire?
Right now we each have 50 bucks a month put in to the Growth fund of america and the Capital World Growth and Income Fund…. wise allocation? or should we be doing something else
A friend told me that I should put my money in a Roth IRA for my future investments and retirement. I don’t know much about it and/or how to put my money into one but I am curious. I am a 17 year old emancipated minor in California who has a bank account already and a job.
Thanks for all the help in telling me what a Roth IRA is and how to put my money in one (if I even should) in advance.
I’m 34 and want to start a Roth IRA for myself and plan to to contribute the max amount in one contribution each year. I know I want to go with either Fidelity, Vanguard, or T. Rowe. I know very little about investing and would like to feel secure with the investment. I know there are too many funds to choose from and I don’t understand them. Thanks for your suggestions.
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