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Message
re: Someone Tell Me About Roth IRAs (New ? on Pg 3)
Posted on 8/31/12 at 9:59 am to CQQ
Posted on 8/31/12 at 9:59 am to CQQ
quote:
Everything I've read recommends opening a Roth IRA. Can someone give me the dumbed down version of why
Tax free appreciation of capital
quote:
what it is
a retirement account funded with after tax dollars, that has much more lenient rules on withdrawal of principle than a traditional account.
quote:
and how to begin one?
Open an account, and fund it. Any of the big trading sites should walk you through it easily.
quote:
My concern is how to distribute it without being a financial expert.
If this is your biggest concern, just put it in a low cost (vanguard) target retirement date fund. It's the personal finance version of autopilot.
1
Posted on 9/1/12 at 8:43 am to TheHiddenFlask
quote:
If this is your biggest concern, just put it in a low cost (vanguard) target retirement date fund. It's the personal finance version of autopilot.
I'm still extremely young but have the means to put in the max ($5K/year from this thread) into a roth ira. I literally have no idea what kind of funds or whatever I want to invest in.
So my best bet would be pick one of the target retirement date funds? And then maybe do some research and a later date I can change what I want to invest in? Thanks.
ETA I completely understand this is the best way to go to save for the future, just have no understanding of the funds they have that are available.
This post was edited on 9/1/12 at 8:45 am
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