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Investing advice: first retirement account
Posted on 1/3/14 at 5:32 pm
Posted on 1/3/14 at 5:32 pm
Opened a Roth and SEP IRA for the new year through Ameritrade. These are my first retirement accounts and I plan to not touch them for 30 or so years.
Basically what I would like to do is use one to purchase some well diversified mutual funds or ETF's, make regular contributions, and pretty much forget about it.
The other I would like to play around with a little more. Nothing too elaborate, no day trading or anything, but to be able to choose my own blue chips, and maybe take a bit more risk on some flyers.
Any recommendations for my set it and forget it fund would be greatly appreciated. I know many people here like Vanguard funds, but what are some other popular ones?
Also, which strategy should I use for which fund? I know they have different tax implications so I want to make sure I'm taking full advantage of each.
TIA
Basically what I would like to do is use one to purchase some well diversified mutual funds or ETF's, make regular contributions, and pretty much forget about it.
The other I would like to play around with a little more. Nothing too elaborate, no day trading or anything, but to be able to choose my own blue chips, and maybe take a bit more risk on some flyers.
Any recommendations for my set it and forget it fund would be greatly appreciated. I know many people here like Vanguard funds, but what are some other popular ones?
Also, which strategy should I use for which fund? I know they have different tax implications so I want to make sure I'm taking full advantage of each.
TIA
3
Posted on 1/3/14 at 5:45 pm to rintintin
Someone will chime in with "Vanguard Retirement Fund" and that isn't bad advice, but I'll note that since you're just starting the most important thing is to just consistently shovel money into your retirement accounts as fast as possible whatever fund(s) you pick. Now would be a great time to not take that vacation and let the money earn a return.
Posted on 1/3/14 at 5:57 pm to foshizzle
quote:
most important thing is to just consistently shovel money into your retirement accounts as fast as possible
Posted on 1/3/14 at 6:11 pm to rintintin
Posted on 1/3/14 at 7:04 pm to foshizzle
quote:
that since you're just starting the most important thing is to just consistently shovel money into your retirement accounts as fast as possible whatever fund(s) you pick
Yes I understand this. I've always been a pretty good saver. I just finally got the sense knocked into me to get it out of a savings account. I plan on maxing each out every year if possible.
quote:
Now would be a great time to not take that vacation and let the money earn a return.
but too late for this. Going to Seattle, Vancouver, and skiing in Whistler in April. Already booked the flight and room. Gotta live while your young right?Posted on 1/4/14 at 5:46 am to rintintin
quote:
I plan on maxing each out every year if possible.
quote:
Gotta live while your young right?
For most people, save when you're young so you can live while you're old. That said, if you can max all your tax-sheltered accounts don't worry about it, that's what I do.
Posted on 1/6/14 at 9:22 am to rintintin
Monday bump
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