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Roth IRA anyone??

Discussion in 'The Lounge' started by CaveBlazin, Jul 30, 2004.

  1. CaveBlazin

    CaveBlazin 1/2 ton status Premium Member

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    So who has em?? Im looking at getting into the program before its too late. I have Wally world stock but would love to put it towards a Roth, any tips??
     
  2. 75-K5

    75-K5 3/4 ton status

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    Do it NOW NOW NOW NOW NOW!!! I started one when I was 16 and hopefully by the time I'm 65 it will be worth some major bucks. Problem is I invested it all before it semi-crashed, so now I'm way in the red, but I still have 50 years to build it back up. /forums/images/graemlins/thumb.gif The market is still fairly low so get in now before it shoots back up! I went with the Schwab Roth, but only because my cousin is a broker for Schwab. I highly recommend them, but I'm sure most other major companies have good programs as well.
     
  3. newyorkin

    newyorkin 1 ton status

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    Good post, I'm lookin out, too, keep the info coming.
     
  4. CaveBlazin

    CaveBlazin 1/2 ton status Premium Member

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    Im speaking with my bank now and there gonna send me some details. Im also gonna contact my other bank for details as well!!
     
  5. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    i max mine out every year. I have a Vanguard healthcare mutual fund. When I retire, it WILL be worth mad bank and it'll be 100% mine... no taxes or other government bullcrap. Alllllllll mine. /forums/images/graemlins/thumb.gif I'm eligible for my companies 401k in a month... Im gonna max whatever match they offer on it as well. 401ks arent as good a deal... since you do have to pay taxes on them on the back end, but with a match from your company its basically free money, hard to turn that down.

    btw, for those that are thinking "I aint putting money in the stock market, it always crashes and people loose their retirement!" keep in mind that there is NO 35 year period in the history of the exchange in which the market actually lost value overall... when you look at it from a long term retirement investment viewpoint, its always up and up huge. Be smart, stay diversified and max that 401k and roth IRA and you'll be on your way to a happy/rich retirement.

    j
     
  6. mtn. burb

    mtn. burb 1/2 ton status

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    1 Roth, 1 reg IRA, and 401K. The Roth IRA is great. Set one up on Monday. Don't procrastinate.
     
  7. jarheadk5

    jarheadk5 1/2 ton status

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    Keeping in mind the advice given in your other post about investing (for those who haven't seen it, a broker advised to not start any new investments until AFTER the Pres. election due to possible HUGE market flux), should someone, say, ME, be looking to start a Roth IRA now, or after Nov.?
     
  8. CaveBlazin

    CaveBlazin 1/2 ton status Premium Member

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    Jarhead I think you can also look into the TSP but being in the reserve it may be a little different.
     
  9. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    i wouldnt worry about a "huge" market flux after the election. What the market doesn't like is doubt... so it will probably be slightly depressed just before the election and return to normal after all doubt is removed after the election. IMO, it won't really matter either way, you're going to be invested for decades, which week you put the $ in isnt going to matter much assuming its in a nicely diversified/managed mutual fund.

    j
     
  10. Twiz

    Twiz 1/2 ton status

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    [ QUOTE ]
    *From a AOL poll*
    How do you feel about the current economy?
    Optimistic 47%
    Pessimistic 44%
    Neutral 8%
    Which candidate do you prefer to steer the economy?
    George Bush 50%
    John Kerry 50%
    Total Votes: 172,088


    [/ QUOTE ]
     
  11. CaveBlazin

    CaveBlazin 1/2 ton status Premium Member

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    Wow thats a neat poll...
     
  12. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    not sure why so many people are pessimistic about the economy. Interest rates are hella low, unemployment is dropping all the time, job in-sourcing is WAY up, and people who are economists for a living say the next year is gonna be hella good. If you're one of the 5% that is unemployed, ok, I can understand polling that way... but 44%?

    j
     
  13. jarheadk5

    jarheadk5 1/2 ton status

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    Well, since I'm not a member of any branch of service right now the TSP isn't an option.
    It might become an option once I get in the AF Reserve... but I'm not sure.
     

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