I’ve just graduated college and started my first full-time job a couple months ago. Lately I’ve been reading articles about Roth IRA’s and how young people should consider them because they can save a huge amount of money by the time they retire with the smallest amount of input (since they’re getting started earlier). I know I’m still young, but I want to set myself up for a comfortable future. I’m making $35k/year salary, but my company does not have a 401K plan (as of yet).

I would like to try putting away $250 a month in order to create a nest egg for when I retire (and maybe allow myself to retire a little earlier?). Is a Roth IRA the way to go, or is there something better I could do with my money to allow it to increase over the years? I don’t know much about this stuff and don’t even know where to start. I do know that IRAs have something to do with investments, which is risky and scares me a little…

We are trying to save some money for the down payment of the house that we are planning to buy next year and thinking to stop our IRA monthly contributions for this year in order to do that.Is it a good idea, or we better of just keep making contributions and withdraw them later from our IRAs if we need the money under the 1st Home Buyers criteria especially if it’s going to be penalty free?

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