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Posted on 4/25/24 at 3:42 pm to BhamBama
Are you maxing 401k? Have an ira, if so maxing it?
If you want to put it towards retirement and aren't maxing those then that'll be your best option. Have an emergency fund already?
If you want to put it towards retirement and aren't maxing those then that'll be your best option. Have an emergency fund already?
This post was edited on 4/25/24 at 3:53 pm
Posted on 4/26/24 at 6:04 am to BhamBama
Open a Vanguard or Fidelity account. You can set up both an ordinary investment account and a Roth IRA in it, and you can contribute to the Roth in addition to your 401k if you otherwise qualify (don't exceed income limits).
Max out a Roth in a S&P 500 Index fund, and put the rest in similar taxable index fund. Are you married with a spouse who has income? If so, open an account and a Roth for them as well so you can double the annual contribution limit. Every year, as long as you qualify, make the max contribution(s) to the Roth(s). Otherwise, ignore it for the next few decades.
Max out a Roth in a S&P 500 Index fund, and put the rest in similar taxable index fund. Are you married with a spouse who has income? If so, open an account and a Roth for them as well so you can double the annual contribution limit. Every year, as long as you qualify, make the max contribution(s) to the Roth(s). Otherwise, ignore it for the next few decades.
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