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I'd like to start and IRA.?
I don't make much money but I live cheaply, I would like to start and IRA and deposit $100/month in it. Where do go to start this sort of thing? Any good recomendations on what to do when I start?
1 Answer
- 1 decade agoFavourite answer
It's great you want to start an IRA. It's never too early to save up for retirement. Even better you're conserative with your money. I suggest going to a local trustworthy bank with a great reputation and talk to a financial advisor or major mutual fund companies like T. Rowe Price or Vanguard. My suggestion is to talk to a professional but also do some research on your own to get the best interest rate. Remember, there are two types: Roth IRA and an IRA. A roth IRA which allows you to withdrawal money TAX-FREE when you turn 59.5 years old. Taxes are deferred on a normal IRA when you pull out the funds Contribute prudently, as soon as possible, and as much as you can and you won't have to worry about living cheaply when you retire. Good luck.