Skip to main content
No. of Recommendations: 0
I've been trying to determine the best course of action for investing for my retirement, and thought that some input could be in order. I am currently 20 years old, and live in a state that won't let me invest in stocks yet (have to be 21 or some such nonsense--at least that is what BuyAndHold.com tells me.)
I have a 401k at work, and am putting in 3%, which is the maximum matched by my employer. My employer (UPS) matches my contributions with their stock. I have been looking at the possibility of a Roth IRA as well. But, can I open one of those before I'm 21? Also, it is my understanding that one can still put the full $2000 in for the year 2000 as long as they do so by April 16th(?). I would like to do this, as any year lost is just that--lost. I would like to do that in addition to putting in $2000 for 2001.
Also, are there any suggestions on how best to invest my 401k contributions? I currently am putting 40% in an S&P 500 fund, 40% in a Russell 2000 fund, and 20% in an Aggressive Growth Fund--Bright Horizon 2035. I wonder if it is best for me to concentrate on, say, the S&P 500 fund instead of spreading my money about as I am.
The funds available to me are as follows (With expenses in parentheses):
Government STIF (0.15%)
Stable Value (0.11%)
Balanced (0.16%)
S&P 500 (0.03%)
Russell 2000 (0.06%)
EAFE Index Int'l Fund (0.15%)
Fidelity Magellan (0.60%)
Bright Horizon 2005 (0.45%)
Bright Horizon 2015 (0.45%)
Bright Horizon 2025 (0.45%)
Bright Horizon 2035 (0.45%)
I appreciate any feedback and look forward to your responses. Thank you in advance.

--Xenonax
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.
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.