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alien · 10-31-2007, 03:25 PM

I'm almost 20 and make over 50k / yr. Also, my wife make around 30k. I want to open a retirement account, but my company does not offer a 401k match. As far as I can see, the Roth IRA seems like the best bet. What do you guys think? also, should I get an additional account if I max out the IRA or invest that money somewhere else? suggestions? Also, should I get it at my bank or somewhere else?<br />

Minsk · 10-31-2007, 03:25 PM

do it anyway

I would buy stocks with it

its like $4K a year, tax exempt

so its like earning 30% the first year just from the tax savings

natali · 10-31-2007, 03:25 PM

roth is a good idea. the sooner you start the better.

you can get the roth at fidelity.com... and set up automatic funding from your bank account.

Quake5 · 10-31-2007, 03:25 PM

Definitely get a Roth. Still do your 401K too.

If you are aggressive investing at your age - you can totally retire young!

big$saver · 10-31-2007, 03:25 PM

I would talk to a financial planner about whether or not a Roth is better for you than a traditional IRA. There are circumstances where a traditional outweighs a Roth (such as you are planning on living on less income when you retire than you are now). You could also consider maxing out a Roth IRA and putting some money into a 401k through your employer. Kudos to you for thinking of your retirement at such a young age!

big$saver · 10-31-2007, 03:25 PM

Talk with a financial planner. We use AG Edwards, they have been great in helping us plan for early retirement.

10-31-2007, 03:25 PM	#1
alien Piggy Bank Join Date: Jul 2006 Posts: 63 Rep Power: 6	Should I get a Roth IRA? I'm almost 20 and make over 50k / yr. Also, my wife make around 30k. I want to open a retirement account, but my company does not offer a 401k match. As far as I can see, the Roth IRA seems like the best bet. What do you guys think? also, should I get an additional account if I max out the IRA or invest that money somewhere else? suggestions? Also, should I get it at my bank or somewhere else?<br />

10-31-2007, 03:25 PM	#2
Minsk Greenhorn Join Date: Jul 2006 Posts: 16 Rep Power: 0	Should I get a Roth IRA? do it anyway I would buy stocks with it its like $4K a year, tax exempt so its like earning 30% the first year just from the tax savings

10-31-2007, 03:25 PM	#3
natali Greenhorn Join Date: Jul 2006 Posts: 31 Rep Power: 6	Should I get a Roth IRA? roth is a good idea. the sooner you start the better. you can get the roth at fidelity.com... and set up automatic funding from your bank account.

10-31-2007, 03:25 PM	#4
Quake5 Greenhorn Join Date: Jul 2006 Posts: 22 Rep Power: 6	Should I get a Roth IRA? Definitely get a Roth. Still do your 401K too. If you are aggressive investing at your age - you can totally retire young!

10-31-2007, 03:25 PM	#5
big$saver Piggy Bank Join Date: Jul 2006 Posts: 59 Rep Power: 6	Should I get a Roth IRA? I would talk to a financial planner about whether or not a Roth is better for you than a traditional IRA. There are circumstances where a traditional outweighs a Roth (such as you are planning on living on less income when you retire than you are now). You could also consider maxing out a Roth IRA and putting some money into a 401k through your employer. Kudos to you for thinking of your retirement at such a young age!

10-31-2007, 03:25 PM	#6
big$saver Piggy Bank Join Date: Jul 2006 Posts: 59 Rep Power: 6	Should I get a Roth IRA? Talk with a financial planner. We use AG Edwards, they have been great in helping us plan for early retirement.

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