Originally Posted by BoredOutOfMyMind (Post 245140)

EB, it is only a thousand clams. that used to be a lot, but is 1/2 week salary for some here, or equal to a car payment and less than one mortgage payment.



Take DT's advice and PM DT.

:2cents

Originally Posted by Praxeas (Post 245338)

What would be good is to find a mutual fund that is not sinking with the recent stock market (which recently took a huge upturn)

Originally Posted by True Believer (Post 245350)

A $1000.00 car payment? Wow, that is double some people's mortgage! A mortgage that much I can see, but not a car payment.

Originally Posted by MrsMcD (Post 245256)

Why would you choose a ROTH instead of a regular IRA? I agree with the American Funds. I have money with them.

Originally Posted by True Believer (Post 245357)

ROTH IRA is tax free and a regular IRA is not.

Originally Posted by MrsMcD (Post 245363)

I wouldn't call a Roth tax free but taxes have already been paid from earned income.

Originally Posted by DividedThigh (Post 245366)

all the money put into a roth is post tax money, meaning all the taxes are allready paid, the difference is all the gains in a roth if take out after retirement age are not taxed, that is substantial, also there are no required minimum distributions on a roth, unlike traditional iras, dt:hypercoffee

Originally Posted by Ferd (Post 245292)

oh my goodness. you really need some lessons in financial planning.

a Roth IRA is NOT an investemnt. It is a qualiified account from which investments can be made.


you invest in
Stocks
Bonds
Money Markets
CDs
Realestate
Precious medals

You can invest directly in these or you can invest in some pool investment like a Mutual Fund or an REI (mutual fund for realestate)

IRA, ROTH IRA, 401K, 403B, Medical IRA, Pension Plans etc are all different types of accounts from which investments can be made.


MOST 401K plans have a limited number of choices that an individual can pick from for investment. Generally companies that have 401Ks have some access to people that can help you choose.

For those that do not have that kind of advise, your best choice is to find a financial planner who charges by the hour. NOT one that works for a company where the FP recieves commission from the products they sell.

That doesnt mean a guy that works for Fidelity wont give you good advise, it just means, his advise will lean towards his own line of products and when you are in a 401k situaiton, you need indepenant advise.


for people in their 30s this is a good rule for investing
40-45 large cap
20-25 small cap
10 International
5 - Bonds
15 - Index plus (personal decision)


as you age, you shift more toward Bonds and large cap to reduce your risk exposure.

Originally Posted by BoredOutOfMyMind (Post 245409)

Can you place 401K money in a Roth?

I thought they conflicted.

My 401K lost 9 % one month and made 20% the next. It is long term and as DT said based on your risk tolerance.

Our 401 K has limited investments at each dollar level to avoid you losing all your funds.

I tend to agree Dt is the one to askif ANYONE on our board.