Where should I get my Roth IRA? Interested in index type stocks...

[JoshNurse]

Where should I get my Roth IRA?  Interested in index type stocks...

[mongstradamus]

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@JoshNurse wrote:

Where should I get my Roth IRA?  Interested in index type stocks...

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I personally like vanguard, you can use an TR fund  that is made of all index funds. ITs comprimised of four index funds, they just differ in asset allocations. 

[JoshNurse]

Thanks! What is a TR fund?

[mongstradamus]

Tr fund is target retirement fund that is what I use for my Roth

[JoshNurse]

Oh yeah I understand now   Should I retire in 2045.  Is there a target fund for that year?

[mongstradamus]

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@JoshNurse wrote:

Oh yeah I understand now   Should I retire in 2045.  Is there a target fund for that year?

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they do , but you don't want to pick TR funds by year. You want to pick by assest allocation like the 2050 i have is something like 90-10 stock to bonds. That is what i want.

[JoshNurse]

thanks i will do the same thing.  I can still cashout at age 60?

[mongstradamus]

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@JoshNurse wrote:

thanks i will do the same thing.  I can still cashout at age 60?

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With Roth ira you can take out whenever you want, you get taxed on when you contribute. 

[JoshNurse]

So there is no penalty if I take out an amount in 20 years? I will be 50 years old?

I dont have plans to do this but just wondering.

[mongstradamus]

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@JoshNurse wrote:

So there is no penalty if I take out an amount in 20 years? I will be 50 years old?

I dont have plans to do this but just wondering.

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In theory yes , I would call which ever brokerage company you want to go with and have them explain Roth IRA to you. The only thing about Roth is if you make an ton of money you may not be eligible I think its something in six figure range. I personally like flexibility of Roth IRAs