How and where do I start a retirement account.? - retirement tools
I'm going 21, to school and live with my parents. I intend to put up to $ 200 on a retirement account to start, then add to get about $ 83 per month to $ 1000 per year for the next few years to a better paid job.
My question is, I can an online account at retirement? Currently, my bank, Bank of America. I also wanted to know if I started a 401k with my current employer, such as transfer to the prospective employer. I do not intend to stay in this job much longer.
Until I learn more about stocks and other investment vehicles that want to focus only on retirement accounts.
Wednesday, January 13, 2010
Retirement Tools How And Where Do I Start A Retirement Account.?
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You can start an IRA (independent Retirement Account) with an online broker (my recommendation is based on nothing more I! Want) The BuyAndHold.com, including the IRA stuff is here:
https: / / www.buyandhold.com/Buy?request=r ...
Do not put your head too big, but they are WAAAY smarter than almost all other countries 21 years to think about that now. The market has 10-12% per year on average long term returns and will continue if the world "out of business", LOL. If you invest $ 200 now, and add $ 83 per month when you retire, say, 61 years, about 1.1 million U.S. dollars, even if you increase the amount that you no longer save $ 83 per month! This is the miracle of compound interest!
(If you wait until 70 can retire and reach 13%, is about 13 million U.S. dollars!)
Because they are still very young, you probably want for a Roth IRA (opt with the money they) already paid taxes on income to finance, especially if an employer is allowed a first participation Tax 401 (k) Plan.
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Well done, because they're so smart!
They have a great life!
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Doing online research ... Vanguard, Fidelity, E-commerce can at least first deposit ... You can also start somewhere. The important thing is ... go with a broker ... IRA no bank ... in the long run, "invested" your money grow soooo much faster than the interest rates.
With a small down payment can be, its first investment in an ETF ... Choose a "sector" or a country and just) Let It Ride (plus additions that will do well.
If you do not know much of the investment will not be discouraged ... which is not as complicated as it first seems. Yahoo / Finance or MoneyCentral / MSN are "beginning investing" or test information: http://beginnersinvest.com/
A place you want to see in May is: http://www.finishrich.com/free_resources ...
This site is a little encouragement ... good luck.
On your first 401k, at least to match the amount your employer. You can probably deferred retirement plan your next employer. With a contribution of up to 401k can start an IRA, and Individual Retirement Agreement.
Roth IRA, you pay in the year 4000 before taxes and tax increases. A 25 y / O, which is 4000 years, when the 65 years of a pension fund of 1.1 million euros.
Time vanguard.com.A friend of mine has a Roth IRA and it is very happy.They, a discount broker.I personally have decided to do the same.
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