Investment questions

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dbzeag

Wants to kiss you where it stinks
Jun 9, 2006
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Where can I find information about the limits of what I can invest per year into my 401K, IRA (of any type), or any other investment?

I know there are limits given what your income is, I just don't know what they are.

Also, what IRA would people recommend?

:heart:
 
dbzeag said:
Where can I find information about the limits of what I can invest per year into my 401K, IRA (of any type), or any other investment?

I know there are limits given what your income is, I just don't know what they are.

Also, what IRA would people recommend?

:heart:
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If you're gonna start an IRA, get a Roth. Mine is a Vanguard index fund, which is of course what I recommend. Vanguard is king of the index funds, with very low fees being the key to a good index fund. iirc, the Roth limit is $4k, but I think I heard that was going up.

But... If your company offers matching, max out the company match in your 401k first, THEN use the rest for a Roth.
 
dbzeag said:
I am a total n00b at this. How and where would I go about finding a good one?
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Approach poeple that are well-off. The chances are good they will know one. Don't know anyone that is well-off? That makes it a little harder. Best bet at that point is to ask people you know. If they don't know one they might know someone that does.
 
fly said:
If you're gonna start an IRA, get a Roth. Mine is a Vanguard index fund, which is of course what I recommend. Vanguard is king of the index funds, with very low fees being the key to a good index fund. iirc, the Roth limit is $4k, but I think I heard that was going up.

But... If your company offers matching, max out the company match in your 401k first, THEN use the rest for a Roth.
Click to expand...

the roth limit goes up a little bit every year iirc

but I'm not going to act like I know shit, since everything I learned I got from your brilliant link to fallet wallet forums: http://www.fatwallet.com/forums/
 
fly said:
If you're gonna start an IRA, get a Roth. Mine is a Vanguard index fund, which is of course what I recommend. Vanguard is king of the index funds, with very low fees being the key to a good index fund. iirc, the Roth limit is $4k, but I think I heard that was going up.

But... If your company offers matching, max out the company match in your 401k first, THEN use the rest for a Roth.
Click to expand...

Vanguard is hot, another goodie is Calamos Growth Fund

http://www.calamos.com/growthfund.aspx
 
dbzeag said:
I am a total n00b at this. How and where would I go about finding a good one?
Click to expand...

Ask family and friends. Make sure that the/she is a fee only financial adviser-planner. Otherwise he/she has too much a vested interest in selling you junk.

Read: http://www.bobbrinker.com/ If he is on a local radio station then I would highly suggest you listen.

To check out no-load mutual funds: http://www.morningstar.com/
 
I'd do what GreatTiger says. Ask a friend who has one or your boss. You can meet with them and always decide you don't like or trust the person. We met with one that our friends use, but didn't like him.

Ours is fee based (like someone mentioned). I think it's $300 per year, but it might be less.

Sure you could always do it on your own, but I'd rather pay someone to help give options. For example, we now have a money market. I would have never gotten one on my own, but they sure make sense.
 
One other thing, the two best no-load mutual funds companies are Vanguard and T. Rowe Price.

Ohio Bellaire WOMP 1290 AM
Ohio Canada CHER 0 AM
Ohio Mansfield WMAN 1400 AM
Ohio Marietta WLTP 910 AM
Ohio Steubenville WSTV 1340 AM
 
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I like the concept of investing or depositing my money someplace, forgetting about it for 20 years, then having it come back with 10% interest so it's quite a lot.

also, I would like to determine how ot save up fo ra shouse and car when that time comes.
 
Arátoeldar said:
One other thing, the two best no-load mutual funds companies are Vanguard and T. Rowe Price.
Click to expand...

I've worked with T. Rowe Price - never liked them: I've heard nothing but good things about Vanguard, but right now I'm using Wachovia Securities and Fidelity - but hey, that's all subject to change
 
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