Today I opened my very first Roth IRA!!! I have been thinking about starting a retirement account since I was in college, but then I went to grad school and became poor rather than getting a "real job" immediately after college. And at that time I didn't know jack about personal finance, frugality, or savings. I still am VERY limited in what I know about investing, so I am definitely playing it safe and boring.
Yay!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I went with a Roth instead of Traditional IRA for several reasons, one of which is because I know I'll be in a higher tax bracket when I retire than I am now, so I'd rather be taxed on the money now. I'm investing in medium risk, medium return index funds which fall under the relatively safe and boring category. If you're new to investing or personal finance, I highly recommend the Get Rich Slowly blog.
I am very excited. :D
Subscribe to:
Post Comments (Atom)
1 comment:
That is exciting! You could do a traditional IRA contribution to lower your taxable income, and then roll it over to your Roth, and thusly get a tax break now AND later.
Post a Comment