I just opened up a Roth IRA

[polarmystery]

Did I do good?

(Investments are aggressive for the most part)

 

[JohnCU]

buy low so i'd say you did well

 

[FDF12389]

Originally posted by: JohnCU
buy low so i'd say you did well

Yep, buy low, sell high. But I would have started making plans 10 years ago.

 

[DaveSimmons]

This is a very good time to buy stock index funds if you're holding for retirement.

Barring the total collapse of society you'll do very well over 20-30 years.

 

[Adam8281]

 

[TallBill]

Max that beotch out!

 

[joesmoke]

Originally posted by: polarmystery
Did I do good?

Depends, two questions:

1) Have you been laid before?
2) Can you swim?

 

[OrganizedChaos]

Your going to be kicking yourself in the ass for waiting that long to open it. I opened mine up at 21 and regret not doing it sooner.

 

[Lorax]

superman does good. you did well.

 

[Evadman]

 

[Baked]

Meh, just put $1 in multi-state lottery and $1 in in-state lottery every week.

 

[thehstrybean]

Man, now I'm researching IRAs. This stuff is pretty cool. Maybe I should open one. I've read a lot, how exactly do they work?

 

[Baked]

Originally posted by: thehstrybean
Man, now I'm researching IRAs. This stuff is pretty cool. Maybe I should open one. I've read a lot, how exactly do they work?

It's like savings, with a limited contribution cap, but more return. And no tax.

 

[OrganizedChaos]

Originally posted by: thehstrybean
Man, now I'm researching IRAs. This stuff is pretty cool. Maybe I should open one. I've read a lot, how exactly do they work?

An IRA is a magical box, any investments you can fit inside this box suddenly become tax friendly.

 

[thehstrybean]

Originally posted by: OrganizedChaos

Originally posted by: thehstrybean
Man, now I'm researching IRAs. This stuff is pretty cool. Maybe I should open one. I've read a lot, how exactly do they work?

An IRA is a magical box, any investments you can fit inside this box suddenly become tax friendly.

OoO!!

So is there a preferred company to open one with? I'm with BofA, but I kinda hate them right now...ugh...

 

[Vette73]

Originally posted by: joesmoke

Originally posted by: polarmystery
Did I do good?

Depends, three questions:

1) Have you been laid before?
2) Can you swim?

3) Do you wear diesel jeans?


Fixed

 

[Aimster]

IRA have more return? Na uh.
Explain

 

[polarmystery]

Originally posted by: Marlin1975

Originally posted by: joesmoke

Originally posted by: polarmystery
Did I do good?

Depends, three questions:

1) Have you been laid before?
2) Can you swim?

3) Do you wear diesel jeans?


Fixed

Answers:
1) Yes, last week
2) I'm half black and half white, so I can swim half-way decent
3) Do AE, AF, and AP jeans count?

 

[zzuupp]

Originally posted by: thehstrybean

So is there a preferred company to open one with? I'm with BofA, but I kinda hate them right now...ugh...

Check out Vanguard

 

[Kyteland]

Originally posted by: Aimster
IRA have more return? Na uh.
Explain

Your 401k and Roth IRA will have the exact same return either way. The only difference is the taxes you potentially pay on them. If you assume the taxes to be the same then they are identical in terms of investment return.

Investing in one over the other comes down to a bet on whether you think your tax obligation will be more now or when you take the money out.

 

[Mide]

Better late than never but prices on everything are low right now so you picked a great time.

 

[OFFascist]

No shit, me too. I'm 27 and just opened one.

I did it mostly because just guestimating how much I'll have made by the end of the year I want to put enough in my IRA that it will kick me my AGI down some so that I will get a bigger tax return.

 

[coaster831]

Originally posted by: OFFascist
No shit, me too. I'm 27 and just opened one.

I did it mostly because just guestimating how much I'll have made by the end of the year I want to put enough in my IRA that it will kick me my AGI down some so that I will get a bigger tax return.

A Roth doesn't affect your AGI, only a traditional does (you didn't specifiy which you opened, just wanted to let you know).