Anyone have one? Been going back and forth whether I should open one.

Also how did you go about opening one?

Asher Roth was dope

Got one with Vanguard

The earlier you open one the better off you will be when you decide to retire

businessinsider.com/saving-at-25-vs-saving-at-35-2014-3

Join us in the investing thread in tech

ktt2.com/official-cryptocurrency-blockchain-thread-470

been meaning to open one, i have a roth 401k atm because i plan on making more money later in my career, so i’ll switch to a traditional then

I asked a question in here like a month ago and got sent to a weird ass site lol

Gonna get robinhood soon, just want to do a little more research

open it so u can be a millionaire at 60

generally a wise choice, the younger you open it the better

go with vanguard for low fees

Some people in there are just gamblers.

But look at the benefits of the Roth vs traditional and if you have any questions @ me

Don’t open Roth IRA with Robinhood (idk if they have one)

That was referring to trading stocks.

I'll most likely go with Vanguard like how you and the other poster suggested.

Yes OP you should have a Roth IRA

Invest as much money as you can into an S&P 500 index fund with a low expense ratio like VFAIX

Oh alright, I don't even think they offer Roth to begin with.

Good thread. Do u have to put a certain amount minimum in it to open it up? And do u have to keep it above a certain amount?

1000% yes

imagine willingly locking your funds up so that boomers can get their pensions lmao

you will never see that money again! take charge of your future and don't let the mutual funds steal your money through fees!

it all depends if you think ull have have higher income at the end of your career or if you make most of your money when you are younger

roth IRA you can make withdrawls tax free when you retire, where as traditional you get hit with the tax burden at retirement. the benefit of a traditional ira is you get the tax break upfront when you are younger. so again, if you plan on making more at the younger ages, you get the tax break at that time. a roth ira is more of playing the long-term game, you're expecting to have more money towards retirement and at that time you'll be able to make withdrawls tax-free

there are also rules regarding early withdrawls and some other s***

you get hit with a higher tax burden in retirement if you made more money during the end of your career with a traditional

roth is better if ur planning on being in a higher tax bracket with more income when you are older. traditional is better if you think when you retire you'll be in a lower tax bracket with less income.

roth you make withdrawls during retirement tax-free. traditional you get hit with taxes because contributions you made when you are in your 30s can be used to reduce your taxable income at that time. its tax benefit is rooted in the present, not the future.

its basically short-term vs long-term thinking. you have to think about where you'll be when you approach retirement and make a call

i have one and a traditional as well. i set a small % of my paychecks to deposit in it every pay cycle

we should have a finance section tbh or at least a pinned thread

definitely

i agree. its a very important subject. we have sections for less important s***