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!

Apparently it was all sitting in some sort of money market account building interest. I’ll slowly start hunting for places to put that 5k.

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’ll have the site and service fully operational within two weeks or a month max. No public details yet.

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.


Blog posted on: July 15, 2005

21 comments on “What’s In My ROTH IRA

  1. R Christensen

    Thats pretty cool about your Roth IRA. I’m only 18 and my Economics teacher stressed a lot about setting one up, specifically the ROTH since it is a “tax shelter”, as early as possible. Any tips on which company to set it up with?

  2. Boss Hogg

    Booze, Lottery Tickets, taking advantage of mentally unstable homeless people……when does the madness end?

  3. Jose Anes

    When in doubt about where to put money in a brokerage acount SPY (SP 500) is always a good option. Congratulations for funding the IRA.

    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

  4. Ryan

    Hey Neville,

    Speaking of business ideas, I’m going around today inviting pf bloggers and their readers to a site that I just launched today, http://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.

  5. Anonymous

    Nev, tell me something:
    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?

  6. Gustavo

    I got to give you props, man. Reading your blog is refreshingly new.

    Consider it added to my set of blog links (which I check bi-monthly).

  7. Wirthy

    I hope someday we can look back at your empire and say that it all started with a simple dream and an army of homeless guys.

  8. Jonathan

    You seem so aggressive with your stock portfolio, but you leave your Roth IRA in cash? Let’s see some action! =)

  9. Jason

    Unfortunately, your Money Market account will be earning less than inflation, so while it is better than nothing, you are effectively losing money over time (to inflation).

    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!

  10. Anonymous

    I thought the limit on Roths for this year is 4K in contributions. Did you contribute all 5K in the same fiscal/calendar year?

  11. David

    Thank you for this great blog information!I’m finding this whole blogging world a great resource for any topic, and really inspirational.

  12. Mallory

    Or so angry you could spit. Re-gifting is a flawlessly satisfactory
    strategy to minimize waste following a principle with the Three or
    more Urs (Re-use, Decrease and Recycle) –provided those items
    you’re re-gifting bring a few benefit to the people you intend to give the crooks to. Instead of hiring a DJ or catering your holiday event, make sure that your holiday party invitations encourage your talented friends to perform, bring dishes for a potluck or provide entertainment in the form of a white elephant gift exchange or ornament exchange.


Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>