Skip to main content
No. of Recommendations: 0
I am turning 40 May 1st. That combined with the birth of my first child, Liam James, on St. Patrick's day, caused me to think about the fact that I probably ought to start planning for the future. The impulse to open an account for him, led me to the conclusion that I'd better start saving myself first, in the form of a ROTH IRA. I have not ever been able to get ahead, although I have been chipping away at ~$15000 in debt primarily to the IRS.(I had some bad years "investing" in self-anesthesia after divorce.) So, I have arrested the downward spiral and would like to start moving in a positive direction. My question is, should I start trying to save by opening a Roth IRA with E*TRADE and investing in the Banker's Trust Index fund, or should I try to start a DRIP. The first I could do right now, as the entry level is $500. I haven't figured out if I can do the DRIP within an IRA, with only $500. I suspect that if I don't put the $500 somewhere I can't touch it soon, it will evaporate. Also I'm considering Lucent as my first stock, as a long-term internet investment, if I can figure out a way to do it. I haven't yet learned enough to research it properly. Any advice is welcome. Thank you all Mark
Print the post  


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.