posted
yea so im 16 and i am starting a roth ira at the end of the summer. i will put in the max amount and i am thinking of filling this ira with etfs since i will need it to last untill i am 60. so wut secotrs have taken the most beating this year so i can get in at a good price?? any segestions for me?
another route i might go is picking a large cap eft. i just want one with some stability that will make consistant gains without alot of risk
last question lol is there any risk of efts just crapping out or going under?
[This message has been edited by duke4734 (edited June 27, 2004).]
[This message has been edited by duke4734 (edited June 27, 2004).]
posted
DUKE At your age it doesn't matter, but I would pick IN THIS ORDER WILSHIRE 5000, the Russell 3000 index, The S&P index(spy) You will be a multi -millionare at age 65 if you fund max every year. VAN
IP: Logged |
quote:Originally posted by VNGNTN1: DUKE At your age it doesn't matter, but I would pick IN THIS ORDER WILSHIRE 5000, the Russell 3000 index, The S&P index(spy) You will be a multi -millionare at age 65 if you fund max every year. VAN
i cant find the ticker symbols for the wilshire 5000 or the russell 3000?
posted
$3000 now $3500 after 55 My bet is the government will back off on SocSec on people your age and increase incentives. You will be required to hold till 59 1/2 or pay a 10% penalty. One other vehicle now is a 401k or 403b. Most advisors pick these as BEST vehicle, however You paytax when you take it out on whole amount. My experience with this as an active trader I could have don better if more could have gone to ROTH. NOW LISTEN UP At your age you have a lot of time to learn and even make some mistakes. The internet and boards like this can provide a MASTERS degree in investing. You do this by reading everything and then verifying it. Another thing is to develope an overall plan and stick to it. Things like "regular" investment, "allocation" etc. Get yourself a good dictionary of financial terms. I believe Bob Frey probably can fix you up with this. I know you are on a penny board,but really ecourage you to understand "fundamentals" first. VAN PS Goto fool.com They have a nice breakdown of index contents by sector for R2000(NNW) & W5000(TMW)
[This message has been edited by VNGNTN1 (edited June 28, 2004).]
[This message has been edited by VNGNTN1 (edited June 28, 2004).]
quote:Originally posted by VNGNTN1: $3000 now $3500 after 55 My bet is the government will back off on SocSec on people your age and increase incentives. You will be required to hold till 59 1/2 or pay a 10% penalty. One other vehicle now is a 401k or 403b. Most advisors pick these as BEST vehicle, however You paytax when you take it out on whole amount. My experience with this as an active trader I could have don better if more could have gone to ROTH. NOW LISTEN UP At your age you have a lot of time to learn and even make some mistakes. The internet and boards like this can provide a MASTERS degree in investing. You do this by reading everything and then verifying it. Another thing is to develope an overall plan and stick to it. Things like "regular" investment, "allocation" etc. Get yourself a good dictionary of financial terms. I believe Bob Frey probably can fix you up with this. I know you are on a penny board,but really ecourage you to understand "fundamentals" first. VAN PS Goto fool.com They have a nice breakdown of index contents by sector for R2000(NNW) & W5000(TMW)
[This message has been edited by VNGNTN1 (edited June 28, 2004).]
[This message has been edited by VNGNTN1 (edited June 28, 2004).]
yea i was gonna start a 401k but im not 18 so i cant yet. n yea im going with a roth ira
posted
DUKE I wasn't aware that you could not have a 401K under 18. I guess it doesn't matter how old you are something new shows up. I hope you accomplish your goals. You have many things ahead I can tell you looking back that 75% of what you think now will change. The way I handled this was to ask older people for information(most are willing to give it) then make your on decision. VAN
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
