I’m in my early 20s and I’m trying to plan for the distant future so I really want to open a Roth IRA but I can’t decide nor do I know what I should do. Opening an IRA at a Bank and only getting 3% is almost pointless but it’s better than a regular market savings account. I’m looking into T. Rowe Price or other companies like them to handle my IRA and invest that IRA into mutual funds, but with the economy so poor and the plunging I don’t know if my will be safe. How should I start my retirement investing?

 

  • EndlessMountain 3:10 pm on October 17, 2009

    I would get out of this US Dollar and invest in other currencies? (Not sure which ones, as they are going through the same problems) and maybe into gold and silver as a possibility also. Maybe into the stock market in a short fund like SDS or DXD.

    Maybe out of the bank period and buy real commodities. Real coins and perishable foods and products you can trade off during this upcoming great depression.

    Reason:
    Our economy is phony and there is much more downward room left towards this economic collapse. The economy needs this for the world is run by greed and fear and we need to have a change for we are living in the time where the dark ages and everything it supports must die for the golden age. Fear and corruption like we run stocks is one of the ways.

    If you want to know why the economy is phony, these video sources can give you truth

    (google search)

    MANOFTRUTH YOUTUBE
    VISIONVICTORY YOUTUBE
    PETER SCHIFF
    ZEITGEIST ADDENDUM
    I.O.U.S.A.
    MONEY AS DEBT

    Peace, love and light my friend :)
    Lets party when the Dow goes below 4,000

  • src50 3:10 pm on October 17, 2009

    You’re in your 20s, so now is an excellent time to invest. If you want a self-directed account, you can open one at a brokerage.

  • kwilla1 3:10 pm on October 17, 2009

    It is never to early to start investing. I would suggest getting three to six months living expenses set aside in your savings account and then start looking into a Roth IRA. Inside the Roth IRA and can invest in almost any asset you want. As far as your concerns about the stock market plunging you should take a different viewpoint. Since you are in your early 20’s you will have plenty of time to ride the markets ups and downs and with the recent plunge in the market you will be buying assets on sale. If you went to the store and they had your favorite food for 40% off you would most likely stock up on that item. The stock market is no different (except for the emotions involved). Get past the emotions and start saving for your future, now is a GREAT time to be starting.

  • gregory_s19 3:10 pm on October 17, 2009

    kwilla1 is right on!

  • Raja S 3:10 pm on October 17, 2009

    If you can put money aside then it is right time… Calculate your tax benefit, whcih would give you a big savings for opening IRA. If worried about economy just keep the money in secured deposits but under IRA.

  • Jen 12:45 pm on October 19, 2009

    Also, to one of the earlier posts, you should consider self directing into a truly self directed account that would allow you to invest in what you know. You should also consider a ROTH IRA that would allow you to grow the account tax free! That’s huge! Check out http://www.trustetc.com and check out your options so whether you are investing in real estate, tax liens or livestock, your options are endless.

  • Jen 12:45 pm on October 19, 2009

    Also, to one of the earlier posts, you should consider self directing into a truly self directed account that would allow you to invest in what you know. You should also consider a ROTH IRA that would allow you to grow the account tax free! That’s huge! Check out http://www.trustetc.com and check out your options so whether you are investing in real estate or tax liens your options are endless.

  • Jeanette Arnholt 12:46 pm on October 19, 2009

    Also, to one of the earlier posts, you should consider self directing into a truly self directed account that would allow you to invest in what you know. You should also consider a ROTH IRA that would allow you to grow the account tax free! That’s huge! Check out http://www.trustetc.com and check out your options so whether you are investing in real estate or tax liens your options are endless.

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