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Investing/Strategies / Retirement Investing
|Subject: Re: Roth; too many choices!||Date: 8/23/2001 9:38 PM|
|Author: puterlady||Number: 31600 of 76418|
First, thanks for all the good resources you've pointed me to! I'm learning as fast as I can here!
"Some questions you need to address are:"
"1) Do you consider yourself a passive or take charge person?"
Take charge! Eventually!:-)
"2) Do you intend to pick individual stocks or stay with passive mutual funds once your IRA reaches a sizable amount?"
For the IRA, for the most part I want to get it up and running now, and pretty much stick with "passive mutual funds" for this investment at least.
"3) Do you understand the difference between a ROTH and a regular IRA?"
Totally. A ROTH is definitely the right vehicle for me.
"4) Does your company offer a retirement plan and if so are you participating in it?"
Have been participating for 20 years in a nice little plan called "SURS", State Universities Retirement System. This is a 401k plan that matches my contributions. I will ALSO finally be getting into the 403b plan before the year is over, as well as starting the Roth IRA on my own. I've paid virtually nothing into Social Security, so I've GOT TO get my a** in gear here!! (Not that SS would save me from a retirement in poverty!)
The 403b lets us choose between 5 companies; Fidelity, American Century, TIAA-CREF, Aetna and MetLife. 3 have annuities which I DON'T want. The other two are Mutual Fund plans, and because the list of selected funds is only a couple dozen for each company, it shouldn't be nearly as hard to choose as the Roth is proving to be for me.
"5) How old are you?"
Old enough to know better than to have waited so long! 43.
"6) Do you plan on retiring at age 65 or earlier?"
Earlier would be better, but 65 is basically an acceptable age for me.
So, I've got 22 years to amass a small fortune. I don't have any credit card debt, I do own a home with a mortgage that I am paying additional principal on each month, and I've got no dependents to worry about. Next year, some good old US Savings Bonds will mature, and I'll have that money to use for some more investing at that time. Hopefully, I'll know more then than I know now.
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