I have roughly $20,000 to invest...open a Vanguard Roth IRA? Fidelity? What would you do with $20,000? I don't need it in the near future and I hate that it is sitting in a worthless money market account...I'll still have around $20,000 as emergency fund/house downpayment/etc...I plan to invest it and forget about it while still contributing to whatever type of account I open.

This post was edited on 3/28/13 at 2:03 pm

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Posted by gatorsimz

cafe risque

Member since Feb 2009

8135 posts

Posted on 3/28/13 at 2:22 pm to Chaplain

What's your risk tolerance? Do you have any experience with mutual funds? Also, Roth max contribution is 5000 for 2012 and 5500 for 2013 if you're under 50 so you may only be able to move $10500 into a Roth.

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Posted by RickAstley

Reno, Nevada

Member since May 2011

2004 posts

Posted on 3/28/13 at 2:24 pm to Chaplain

I've got $30,000 sitting in savings. I'm moving $10,500 of that into a Vanguard Roth IRA between today and next week. The remainder I'm going to move to PenFed where I will dump about $7000 into CDs and leave the rest as an emergency fund.

That is about as far as I have gotten for drawing up plans to do with a stash of money.

//Edited to Add: Speaking of Vanguard, has anyone else been having difficulty accessing their site today?

This post was edited on 3/28/13 at 2:26 pm

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Posted by foshizzle

Washington DC metro

Member since Mar 2008

40599 posts

Posted on 3/28/13 at 2:39 pm to Chaplain

Bear in mind that the institution where you open the account doesn't necessarily limit you to use only their funds. For example, my Roth is at Schwab but I own Vanguard funds in it.

However, if you know you are only going to use Vanguard you will probably get a (very slightly) better deal hosting your Roth with Vanguard.

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