10-31-2007, 02:25 PM
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#1 |
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Greenhorn
Join Date: Jul 2006
Posts: 20
Rep Power: 6  |
give me some details...?
i wanted to start an retirement account but don't know which is which... my employer doesn't match the 401k, i feel like opening an IRA or ROTH IRA, but where do i open an account. and which is better? does it have minimum? to open? or should i go with mutual fund? i don't want to have any financial advisor, because i wanted to go back to school to become one..<br />
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10-31-2007, 02:25 PM
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#2 |
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Greenhorn
Join Date: Jul 2006
Posts: 22
Rep Power: 6 |
give me some details...?
I would recommend the ROTH. You pay taxes on the money, but when you take it out in retirement it is TAX FREE!!!
You can open one with just about any mutual fund company. Check out www.fidelity.com or vangaurd. Morningstar can also help you rate the mutual funds that you will buy inside your ROTH IRA. Not sure about minimums. Most mutual funds will waive them as long as you have an automatic $50 or so going in each month. |
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