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Reply to "Just opened up a Roth IRA - now what?"
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[quote=Anonymous]I already had an existing eTrade account from when I graduated college and some stocks that I had been given while I was a kid were transferred into my name (well, I think they were always in my name but I now have control over the account). Over last summer, I bought a few more stocks and they have been doing well. About a month ago, I opened up a Roth IRA with eTrade and just transferred over the remaining cash that was in my brokerage account over to the IRA. So I just have a bit of cash sitting in there. Forgive me, because I am early 20's and very new to investing/managing my money. Not yet eligible for my employer's profit-sharing plan so I wanted to start something for retirement even though it seems so far off at this point! But, I truly have no idea what to do now. Do I buy stock with it like I would in a traditional brokerage account? Do I let the cash sit there? I don't think it accrues any interest. :oops: [/quote]
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