- 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
Hold off on starting a Roth?
Posted on 1/22/16 at 5:29 am
Posted on 1/22/16 at 5:29 am
So I have been wanting to get a Roth started for some time now but just havent had the time and with the way the market has been lately I am glad I havent. Trying to decide if I should wait and see if things settle out or if the recession talk is is going to come to fruition. Not to mention that I am in oil and am nervous about dropping a large chunk of money with how the industry is right now. To top it off I am wanting to add some more to the energy stocks I have as well.
Not to mention I have around 20K in school loans I am still paying off with varying rates from 3-5%.
Not to mention I have around 20K in school loans I am still paying off with varying rates from 3-5%.
7
Posted on 1/22/16 at 5:32 am to GREENHEAD22
quote:
dropping a large chunk of money with how the industry is right now
The most you could drop in, unless you are old enough and making up, is 11k through April 18th.
I don't know why you wouldn't at least contribute something to your 2015 Roth while you still can, you can pull out your contributions at any point if you need them and its free of penalty.
Posted on 1/22/16 at 6:36 am to GREENHEAD22
No, you only get to contribute $5500 per tax year. (Until you're 50 - but hopefully you make way too much money by then) Also, don't ever take out even the principal. Chances are you wont pay it back in time. I mean, if shite hits the fan and there's no other option, sure, but don't use if for something you could otherwise do without or save for. Just my opinion.
Also, you can park it in a money market if you're nervous about investing, but frankly I'd just DCA.
Also, you can park it in a money market if you're nervous about investing, but frankly I'd just DCA.
Posted on 1/22/16 at 7:17 am to GREENHEAD22
I was thinking the opposite, although my situation is a bit different. I started a 401k last year to take advantage of company matching but I paid off all of my loans.
I usually get a decent amount back on tax return (should be higher now that 401k started) and I was debating dropping in the max for 2015 or starting off with regular deposits for 2016.
I will say, paying off student loans is an amazing feeling. It's great not throwing a thousand dollars a year away to interest.
I usually get a decent amount back on tax return (should be higher now that 401k started) and I was debating dropping in the max for 2015 or starting off with regular deposits for 2016.
I will say, paying off student loans is an amazing feeling. It's great not throwing a thousand dollars a year away to interest.
Posted on 1/22/16 at 8:00 am to GREENHEAD22
You don't have to immediately invest the money. Just put the money in a Roth and either dollar cost average or wait for when you're comfortable.
Posted on 1/22/16 at 8:03 am to GREENHEAD22
Do it now. Stocks are on sale.
Posted on 1/22/16 at 8:08 am to GREENHEAD22
What's the point of waiting? Stocks are already cheap. Just jump in and let it ride
Posted on 1/22/16 at 9:21 am to GREENHEAD22
NO! Just stick it in money market in your Roth if you're worried
I'd dollar cost it thought
I'd dollar cost it thought
This post was edited on 1/22/16 at 9:40 am
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News