I am about to open a Roth IRA. Any suggestions of who to open it with? Fidelity? Vanguard? etc.?
Also, any good suggestions or readings of my asset allocation? I am 24 and would like something fairly aggressive.
I am about to open a Roth IRA. Any suggestions of who to open it with? Fidelity? Vanguard? etc.?
Also, any good suggestions or readings of my asset allocation? I am 24 and would like something fairly aggressive.
I'd go with Vanguard, and stick with something simple. Like the Target Retirement 2050 fund (low fees, aggressive, and gets more conservative eventually as you near retirement).
https://personal.vanguard.com/VGApp/hnw/content/Funds/FundsVanguardFundsTarget2050Summary.jsp
I recommend Charles Schwab. They have a good target asset allocation projector.
I'm 24 as well, My roth currently has an S&P index funds, a blue chip index fund, an overseas fund, and a small cap fund.
I think that is a fairly solid allocation.
24 years old, one year old. same thing.
http://www.letsrun.com/forum/flat_read.php?thread=2188860
i started off with maxing out my roth contributions and putting them in a similar asset allocation as suggested in that thread (though i was always fairly aggressive and over-weighted to small caps and emerging market). now that i'm no longer eligible for a roth and i've got other investments, i use my roth as my "play money" account for trading and so on. still has a base of solid mutual funds/ETFs that keep the portfolio relatively diversified and "safe" but i built up a nice position investing this way when i was younger and it allows me to play the market some. if this is something you'd like to do in the future without risking your retirement nest egg too much, max out your roth (and any 401k) every year. it may take some sacrifice initially but it's worth it down the road because you won't have to invest as much when you're 45, or whatever, to get to the same place. sorry for the stream of thought-like post. just wait for:
flagpole in 3, 2, 1...
The target funds have multiple fund managers. So even though they have low load fee's they have higher management fee's because you are being 'dinged' by more people....
They are good funds, just keep that in mind.
I've got my money in a Vanguard 2050... pretty much "set it and forget it." Will take you about 30 minutes to set up.
Vanguard is the best by far. Go with them. I could go into all the reasons, but I don't want to.
Put your money in the following kinds of mutual funds:
Growth
Growth & Income
Aggressive Growth
International
25% each.
The target date mutual funds are for people who don't want to manage their funds at all. Not a problem really if you put money into them, but as everyone has different retirement goals (and you might THINK you want to retire in 2050 but then find you can earlier or have to later), so I don't recommend them. What if you want to be more aggressive the last 10 years than that fund wants you to be?