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+--- Thread: Need advice on investments (/Thread-Need-advice-on-investments)
Need advice on investments - Shadowless - 04-20-2008
I value everyone here with their neverending expertise on many subjects, so I ask those who are knowledgeable in the area.
I am looking to start investing, I am still fairly young (26), well I feel old but that is another subject lol. Anyway I am finally starting to realize I need to make some investments, stocks, bonds, ira ect...
But I am unsure of what to do and where to start.
Last week I started with a CD, I know it's not much but it's a start. But I really want to start an IRA but unsure of how they work or really what they do. I know Roth seems better because even though you are taxed to begin with, all your earnings are not.
But after that I am lost.
So if anyone has tips or advice that would be great!
Need advice on investments - Shadowless - 04-21-2008
cinderly Wrote:I suppose which vehicle is "right" depends on why you're investing. Most of my investments are geared toward having a secure (and even awesome) retirement. I have both a 401(k) and a Roth IRA. The 401(k) is great because my prior employers all provided matching funds and you can dump more money annually into a 401(k) than a Roth.
I like the Roth because I theoretically won't have to pay taxes on my stock earnings once I hit 59-1/2, but the low annual contribution limit might be an issue for someone in a hurry to build up their retirement savings.
As far as brokerages go, I don't have any I'd swear off. I'm partial to Vanguard because I like their index funds, but I was with Charles Schwab in my early 20s and didn't have any complaints there, either.
I try to buy and hold as much as possible, and I go for stocks or funds that have staying power. I like funds better than individual stocks, generally. (The Vanguard 500 & the Energy Index are my present favorites.)
I've done a poor job as far as diversifying my portfolio. It's all stocks. I need to identify some bonds to invest in to reallocate my risk, since I'm a little closer to retirement now than in my twenties.
I'm also investigating retirement annuities, but I'm not sold on them yet.
My favorite sites for financial advice:
The Motley Fool
Generation X Finance
Money.com
Get Rich Slowly
I am interested in starting some stocks but honestly don't know where to start.