What's In My ROTH IRA
Today I logged into my ROTH IRA for the first time since I started it in March.
I put $5,000 into it and just left it there. I called Ameritrade for my username/password and found out that my account value is $5,032!
On a different note......
I had a cool post prepared to put up, but I nixed it because I got a great business idea from it! No one has done anything like it before, and it can easily be a very very simple way to earn $1,000+ every month.
I've also found out that having my name so closely associated with this site has its drawbacks....when I try to negotiate a deal, people KNOW I have at least $X amount of money, so I can't pull the "I can't afford that!" routine.
-Nev
I put $5,000 into it and just left it there. I called Ameritrade for my username/password and found out that my account value is $5,032!
On a different note......
I had a cool post prepared to put up, but I nixed it because I got a great business idea from it! No one has done anything like it before, and it can easily be a very very simple way to earn $1,000+ every month.
I've also found out that having my name so closely associated with this site has its drawbacks....when I try to negotiate a deal, people KNOW I have at least $X amount of money, so I can't pull the "I can't afford that!" routine.
-Nev
posted by Neville @ 2:37 AM
15 comments
15 Comments:
For tips on where to set up an IRA or Roth IRA (for RJ Christensen): if you have a bit of capital (a few thousand), use Vanguard.com and the SP 500, or use Scotttrade or Ameritrade IZONE: http://www.izone.com/ and choose either SPY (SP500 again), or stable companies (since you are just starting). I like to use stock screens for above $500M in market cap, Lower than 20 in P/E, higher than 3% in dividend yield, and I throw some subjective meassure like: More than 4 out of 5 stars according to Standard & Poor's rating (this last one is optional).
Money and Investing
Speaking of business ideas, I'm going around today inviting pf bloggers and their readers to a site that I just launched today, www.networthiq.com. It's inspired by you and your fellow bloggers that post your financial status in your blog. I invite you to check it out and let us know what you think.
Why don't you buy that Honda CBR600RR bike you've been looking at? You have the finances, as well as the guarantee for future finances. cold feet?
~ Karen
http://ksfinancialprogressreport.blogspot.com/
Consider it added to my set of blog links (which I check bi-monthly).
I would suggest investing the money in a broad stock index (since you are young and can take quite a bit of risk), such as the Vanguard Total Stock Market VIPER (ETF): see the symbol VTI (http://finance.yahoo.com/q?s=VTI) or moving the money to a Vanguard Roth IRA account (minimum: $3000).
In any case, congratulations for recognizing the value of retirement investing early on in your life!
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