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re: Just opened my first Roth IRA, now what?

Posted on 10/31/19 at 3:41 pm to
Posted by Tigerlaff
FIGHTING out of the Carencro Sonic
Member since Jan 2010
20887 posts
Posted on 10/31/19 at 3:41 pm to
You are doing the right thing. I started at 26 fresh out of school and have maxed out the Roth each year in VTSAX admiral shares. 32 years old now and income got high enough that I have to do backdoor Roths each year, but it only takes about 20 extra minutes of work through Vanguard. I keep all of the Roth money in 100% stock. If you are self-employed, I'd strongly encourage looking into a solo 401K with Fidelity. That has REALLY allowed me to sock away cash and get my taxable income down. Duplicate all of this by 2X for the wife. Doing this stuff now is going to make you so incredibly happy (and free) in a couple of decades.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
72993 posts
Posted on 10/31/19 at 6:03 pm to
Does fidelity allow you to invest in whatever you want?

My solo 401k allows me to invest in anything other than normal disallowed transactions which are not many. Are you listed as the trustee and plan admin? I am. I mainly use it for real estate. It’s awesome.
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