I am looking to invest in a few no-load I have picked out by purchasing through an online discount . Should I simply purchase into the or purchase into the through some form of IRA account? I’m young (mid-20’s) and am looking for the best possible ROI I can get for the long haul.

 

  • El Guapo 3:03 am on September 30, 2009

    First of all, kudos to you for thinking about investing – many people at your age are not so good at planning for their future, and they pay dearly for this later in life. Getting an early start is the best thing you can do, investing-wise.

    Whether or not you choose do set up an IRA account for your funds depends on what you intend this investment for.

    If it is for retirement, then yes – by all means set it up as an IRA (given your age, I would recommend a Roth IRA). This will give you tax advantages which, when compounded over the 40+ years until you retire, will be HUGE. The tradeoff is that you cannot touch any of that money until you retire. If you do take out that money, you will be hit with taxes and penalties (certain exceptions apply).

    If you know you will be needing that money prior to retirement, I would recommend a non-IRA account. You will get no tax benefits (and you will have to pay taxes each year on any dividends and capital gains distributions), but on the plus side you can access this money whenever you want without penalty.

    I hope that helps. Good luck!

  • Don 3:03 am on September 30, 2009

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