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secondandshort
Member since Jan 2014
585 posts

Retirement help
I read this board pretty regularly and have a great deal of respect for posters on this site. I am looking for some advice as I am saving for retirement. I am a state worker so have a pension once I retire. I have also been maxing out my Roth the past 5 years. I have three different Roths 2 are mutual funds with financial advisers. The largest one I have is through Capital One. In this one I have just a variety of individual stocks (mostly dividend). WMT, CVX, MAIN, T and a few others. These are typically stocks that I buy and forget, not alot of trading. Do you have any advice on this being a good way to save as a supplement to retirement?


Skeezer
Member since Apr 2017
449 posts

re: Retirement help
quote:

I have three different Roths


Can you explain? I can see one 401k(403) with roth option and one Roth IRA, but why do you have three Roth’s?
I may be wrong but I believe you can only contribute 5500 a year no matter if you have one Roth or 5500 with a dollar contribution to each every year.
This post was edited on 1/3 at 10:21 am


secondandshort
Member since Jan 2014
585 posts

re: Retirement help
Yes I started two Roths with 5500 each in them when I was a little younger and didn't really know very much and have just kept them. More recently I have used the Roth Capital One and put in 5500 each year and bought individual stocks.


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YoungManOldMan
George Washington Fan
Member since Dec 2017
1882 posts

re: Retirement help
quote:

I am a state worker so have a pension once I retire.


Best and only advice I was given by my investment guy. Pretend it doesn't exist. That or social security.

Save the max in your 457 and you can tell those a-holes to frick off in 25 years.


Teddy Ruxpin
LSU Fan
Austin, TX
Member since Oct 2006
31669 posts

re: Retirement help
quote:

Save the max in your 457 and you can tell those a-holes to frick off in 25 years.


Texas has the pension of course, but also the 457 AND a 401k, so you can put in $37,000 for 2018 and so on.

And I agree, while some funds are actuarially sound for quite awhile, you know how it goes.
This post was edited on 1/3 at 11:15 am


lnomm34
USA Fan
Louisiana
Member since Oct 2009
10234 posts

re: Retirement help
quote:

quote:

I am a state worker so have a pension once I retire.
Best and only advice I was given by my investment guy. Pretend it doesn't exist. That or social security.


I hope you're not paying him much if that was his only advice.


YoungManOldMan
George Washington Fan
Member since Dec 2017
1882 posts

re: Retirement help
I didn't pay him anything Provided by work


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randybobandy
BYU Fan
NOLA
Member since Mar 2015
961 posts

re: Retirement help
If you are a state worker, consider buying some " air-time". I boosted my monthly retirement by about 600.00 by purchasing an extra 5 years of state service. If your adviser told you to ignore your pension, fire him immediately. Judges, Senators, Governors will all have a state pension, that crap ain't going anywhere, especially if you are in La and have a Lasers pension.


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secondandshort
Member since Jan 2014
585 posts

re: Retirement help
I am not sure I am able to save 37k a year but I can fund my Roth yearly contribution. I guess my question is should I be going Vanguard Mutual fund or is the individual stocks ok?


baldona
Auburn Fan
Florida
Member since Feb 2016
6004 posts

re: Retirement help
quote:

. I guess my question is should I be going Vanguard Mutual fund or is the individual stocks ok?


Vanguard funds are generally very low fees. So you get diversification for very little cost. Yes vanguard funds are generally very good investments, so it's really whether or not you feel you can do better with individual stocks and are okay with the risk.


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