[USER]

Hi, I come from a poor background; my family were refugees who came to the U.S. when I was a teenager, and I didn’t learn much about finance growing up.

I’m 27f, I want to know how much I should contribute to a Roth IRA and should i pay off my loan first before investing in roth ira?

I have about 41k students loan and 4.5k (braces) medical bill.

My employer doesn’t offer a traditional 401(k); instead, they have a 457(b) plan, but I’m not eligible for that yet since I’m new to the job. I also have about $10,000 from my previous employer’s 457(b).

I want to retire in my 60s. Is that possible if I start now, or is it too late?

Please give me some advice on how to contribute to a Roth IRA and explain investing in a simple way, like I’m in 5th grade.

Forgive my English as this is not my first language.

Thank you!

[Kathy]

I would transfer the 457 b into an Ira with fidelity or vanguard because usually those fees are high.

I would work on paying off debt and have a 6 month emergency fund but probably contribute $50-100 to a Roth IRA and buy low so500 fund.

My daughter has fidelity and buys fxaix

[Karma]

I’m 41 and just started a few years ago. I plan on retiring at 55. You have plenty of time!

[Muhammad]

You’re absolutely not too late, starting at 27 gives you a great head start for retirement in your 60s.

Since you have some debt, it’s wise to focus on paying off high-interest loans first (like credit cards or medical bills), but you can still begin small with a Roth IRA—even $50–$100/month makes a difference over time.

On the side, something that’s helped me is investing in e-commerce stores, they’re digital businesses that can bring in monthly income and be flipped later for higher returns.

It’s been a helpful way to build extra income slowly while I handle my financial goals.

Keep learning and taking small steps, you’re on the right path!

[Author]

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