- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Investing Advice for a Noob
Posted on 2/1/13 at 9:51 am
Posted on 2/1/13 at 9:51 am
Hello wise friends of the Money Talk Board-
I have about $8k in mutual funds right now and it's being managed by Citi. I've decided to open an account with Fidelity and take a more proactive role in my investments.
I have my 401K through work, but I was thinking about putting $2500 of my $8k into a Traditional IRA and investing the rest in stocks. Ideally I'd like to use a chunk of the funds for a down payment on a car in the next 2 years. Any elementary investing advice from the experts out there? Trends in specific stocks worth looking into? Pros/Cons of traditional vs. roth IRA? Thanks yall
I have about $8k in mutual funds right now and it's being managed by Citi. I've decided to open an account with Fidelity and take a more proactive role in my investments.
I have my 401K through work, but I was thinking about putting $2500 of my $8k into a Traditional IRA and investing the rest in stocks. Ideally I'd like to use a chunk of the funds for a down payment on a car in the next 2 years. Any elementary investing advice from the experts out there? Trends in specific stocks worth looking into? Pros/Cons of traditional vs. roth IRA? Thanks yall
6
Posted on 2/1/13 at 9:57 am to foreverLSU
We really need a FAQ for this board.
I highly recommend that you keep the money where it is until you've read a good book on the basics of investing. Preferably one that sways you away from investing in individual stocks. At that point, people here can help with specific questions you may have.
I highly recommend that you keep the money where it is until you've read a good book on the basics of investing. Preferably one that sways you away from investing in individual stocks. At that point, people here can help with specific questions you may have.
Posted on 2/1/13 at 10:00 am to foreverLSU
quote:
but I was thinking about putting $2500 of my $8k into a Traditional IRA and investing the rest in stocks. Ideally I'd like to use a chunk of the funds for a down payment on a car in the next 2 years.
So, you would open an IRA only to withdraw 2 years later? And for a car of all things. I would just leave it alone.
Posted on 2/1/13 at 10:01 am to foreverLSU
quote:
've decided to open an account with Fidelity and take a more proactive role in my investments.
Fabulous!
are those 8k in MF's in a TAXABLE account?
Why not put it all in the IRA? At least over time? Would you not be able to save enough from your job for a down payment on a vehicle? Do you have an emergency fund set up? if so, how much is in it? 1 years worth? 6 months?
individual stocks? for a beginner? i say no,not now, but it is your choice. If you want dividend paying stocks you may be best served starting out putting it in a high dividend mutual fund based on a basket of dividend paying stocks.
LINK
This post was edited on 2/1/13 at 10:11 am
Posted on 2/1/13 at 2:12 pm to foreverLSU
Stay away from conventional mutual funds IMO. Research ETFs and index funds for lower expense ratios... fund managers statistically don't beat the market in the long run when accounting for expenses. If you are starting an IRA, look into Roth if you are young, then move to Traditional later due to tax diversification. I wouldn't make an IRA with the intent to withdraw in a couple years. As far as asset allocation goes, general rule of thumb is to do 100-your age for the percentage you should have in equity as opposed to bonds. 120 instead of 100 if you want to be aggressive.
Also, if you haven't opened with Fidelity yet, definitely consider Vanguard because they seem to be cheapest and have best reputation.
Also, if you haven't opened with Fidelity yet, definitely consider Vanguard because they seem to be cheapest and have best reputation.
Posted on 2/1/13 at 2:23 pm to foreverLSU
quote:
Trends in specific stocks worth looking into?
For long-term horizon such as retirement, I'm personally focusing on exposure to large-cap stocks in energy, agriculture, and healthcare.
XOM, CVX, DD, AGU, HCA
I'm not a professional and this is not professional advice, etc. etc.
Posted on 2/2/13 at 6:57 pm to foreverLSU
(no message)
This post was edited on 2/2/13 at 7:18 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News