Sly Bald Guys Forum
Various Non-Bald Discussions => General Discussion => Topic started by: dog20 on August 31, 2008, 10:17:59 AM
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I have no idea what type of IRA to get... there are many kinds. I also don't know if I should get it through my bank or some other place. Help
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It really doesn't matter that much WHERE you get it but that you DO GET IT! At your age especially DOG.... start young, it will pay off later.
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I don't understand how they work, but I do know there are different kinds that offer different interest rates. I should talk to someone at the bank about it. This article on yahoo sparked my interest in IRA's.
http://finance.yahoo.com/banking-budgeting/article/105624/Getting-a-Millionaire's-Mindset (http://finance.yahoo.com/banking-budgeting/article/105624/Getting-a-Millionaire's-Mindset)
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Read more on investments, knowledge is you best friend. But in essence an IRA is a retirement plan that has tax advantages.
Go to a financial advisor like your local Edward Jones (not a pitch, but just who I use because he is a good friend) and they will be able to guide you in your investments. They will most likely set up a Roth IRA and get you into some moderate risk mutual funds.
The sooner you get into the stock market the better since you have many years until you will need the money. don't get scared if the stock market drops here and there, you don't care about that because you are in it for the long haul.
But read more, that way you have a better understanding of what you are doing with your money(there is risk).
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Roth
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Max it out if you can. I've had mine max'd each year since I graduated school. I need to keep it up
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Talk to Robmeister ....
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how much do u have to start with?
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how much do u have to start with?
Depends if I get a new car or not lol. $5,000-20,000
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how much do u have to start with?
My youngest client to date is 21 or 22, a full-time student, part-time employed....
We got her in at the minimum of $250.00 deposit and $50.00 per month.
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how much do u have to start with?
This question could either be, "How much do u (Dog) have to start with?
....or "How much [does one have to] have to start with?
To the latter....
My youngest client to date is 21 or 22, a full-time student, part-time employed....
We got her in at the minimum of $250.00 deposit and $50.00 per month.