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- Jenna
I just opened up a Roth IRA this week with Fidelity. I have 7000 sitting in there, but haven’t chosen where to put it yet.
With what’s been going on, where would you put it and when??
I am very new to all of this.
TakaraJust here to say I am in the exact same boat. Every detail of it. Opened a Roth IRA with Fidelity this week and I have 7000 in there currently too.
Your post spooked me a bit.
Thanks for asking! I need to know too!
JakeIt may make sense to put most of that in VTI. Make sure to have the dividend automatically reinvested
StanleyMy advice to you would be to hire a financial advisor that’s a fiduciary.
They can really help get your investments off the ground. You don’t have to use them forever. No matter what, a big part of this is psychological.
The advisor will figure out what your temperament is and make a plan that’s suited to you.
Good luck on your journey!
SusanneEducate yourself before diving in. Read a book about stock investing. Watch various YouTubes. Know the difference between an ETF, Mutual Fund, bonds vs stocks, DOW vs S&P 500 vs NASDAQ vs Russell and other indexes… segments, so many things to choose from its confusing.
The market is down 20% it could go even lower…Noone has a crystal ball.
Dollar cost average the money into the market… Get a fee based Certified Financial Planner (They do not sell financial products!)
Many just put their money into an S&P 500 ETF, set it and forget it. But, much depends on your age, risk tolerance, etc… 1st, get yourself educated so you know something when you seek advice!
Fyi: having life insurance is not a bad thing! Forced savings you van cash out later and help if/when your partner passes away earlier than expected.
ShaunFZROX VTSAX any total stock market EFT, but if you want the possibility of bigger return but a slight gamble look at Tesla.
JohnIf you are nervous and unsure of the swings you could dollar cost average it (divide it into several months) into the fund of your choice.
Most of us like S&P 500 funds as a base investment.
The rest will be in SPAXX making high 3% which is fidelity’s base account until you invest.
It’s smart to max your Roth out every year
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