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re: Quetion About Buying Stocks For First Time
Posted on 3/20/13 at 7:13 pm to LETSGEAUX2
Posted on 3/20/13 at 7:13 pm to LETSGEAUX2
quote:
Only thing I have is my 401k. Are stocks totally opposite from my Roth IRA?
No, a Roth IRA is an Individual Retirement Account. In the Roth IRA, you invest your after tax dollars (up to $5500), and your investment grows tax free. You can theoretically invest in anything you want, but I only suggest Mutual Funds and /Index Funds, at least starting out.
A 401K is a retirement account where you invest PRE-TAX dollars, and your investment grows tax deferred (you get taxed on the distributions when you retire).
I HIGHLY RECOMMEND getting an appointment with an Investment adviser before investing ANYTHING. You need to find one with experience, and is willing to teach you.
DO NOT BUY individual stocks yet, you are going to get your face kicked in. You've been warned.
GOLDEN RULE: IF YOU DO NOT UNDERSTAND THE INVESTMENT, DO NOT DO IT.
1
Posted on 3/20/13 at 10:23 pm to Vols&Shaft83
Vol I love your posts and your always insightful buy I fully disagree. I mean, I don't see any harm in buying something like McDonald's or Coke or in my case Philip Morris.....a basket of dividend growth blue chips will maybe not outperform the market in the long run, but it will perform just fine if you reinvest the dividends and enjoy dividend growth along the years.....now if you're talking a short term trade, then yes you may get your teeth kicked in
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