Reply to I am poor but want to fund my Roth IRA but am worried about the economy

Forum Index » Money and Finances

Reply to "I am poor but want to fund my Roth IRA but am worried about the economy"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]You don't need a 401k, CDs, 529, or traditional IRA.
Continue with the Roth IRA, but for you, there's not much difference between Roth and regular investment account.
Look into taking SS at 62 and working part time, so your investments can grow.
It's fine to invest in ETFs - VOO, QQQ, VTI in regular investment account. Those investments are for retirement and for emergency fund at the same time.
If you bought VOO at $250+, what difference does it make if you sell it at $500 or current price in emergency? It's still way more than CD or HYSA would have been.
I also don't have tax liability. Haven't for years and I probably won't have in the future.
I invest my own money, which has taught me so much. I have very high risk tolerance. Had I let the bank invest for me, I wouldn't even know my risk tolerance.
Market going down is a good thing. That's where the money is made. 
Don't pass your fears about the market to your child. My kids know individual stocks and ETFs to buy and hold long term. Your should too. 
Older DC is in college. He works, will pay for his own college as well max out his Roth IRA. Because he is young, we are buying growth stocks in Roth IRA. The stocks can be sold any time within the Roth if needed.
Young people need to be in grow stocks as they have lot of time to recover from downturns (they last under 2 years).

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics