No. of Recommendations: 2
I'm required to make a $1,000 initial investment to open the account.

I planned to get the account started this week. However, the market is high right now. Does it make sense to wait until the market settles a bit from the Fiscal Cliff issue? When is the next tax reform meeting?


Don't rationlize a delay in opening this new retirement account. Just get it done while you're motivated. I don't understand trying to time the market on a $1,000. retirement investment. Say we get hit with a 20% market downturn next week, which would be bad timing. And, the result for you will be a loss of $200. If you try and out think this and don't open the account and set up monthly automatic contributions for 2013, it will be a bigger loss than a couple of hundred bucks.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement