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Hi there,
I currently have a job working $9.45/hr (yes I am 19 yrs old). I was just wondering if I should start either a traditional ira or a Roth ira right now or should I wait later? If so, then which one would I pick?
I agree, if I had only known about IRA at that age! Of course when I was 19 the Roth IRA didn't exist.
I didn't learn about any type of investing until I was about 30, and at that time I didn't have the funds to invest until much later.
It is nice to see young people asking baout this, rather than what CC's are best though!
Definitely get a Roth. If you don’t have much to put in Schwab is a great option. No minimum to open and Their target date index funds Have a low fee.
if you have 3.5k to put in up front vanguard is the best.
I personally have a Schwab Roth IRA and I’m invested in the 2060 target date index fund. I’m 25 years old.
@Anonymous wrote:Definitely get a Roth. If you don’t have much to put in Schwab is a great option. No minimum to open and Their target date index funds Have a low fee.
if you have 3.5k to put in up front vanguard is the best.
I personally have a Schwab Roth IRA and I’m invested in the 2060 target date index fund. I’m 25 years old.
Fidelity is also another good option they have their freedom index TR funds with very low expense ratios, i think in the .12% range. I use them for my ira the no min balance or contribution is what got me started with them as opposed to vanguard. Correct me if i am wrong with vanguard their target retirement funds are min 1000 as opposed to their other mutual funds that are normally 3000 min.