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I am looking into IRAs. Do you have one, did you go with a bank or brokerage firm? Mutual funds, stocks, CDs?

Posted by James Bond (aka Igor) (aka igor) Jul 30 '14, 07:31

I am thinking of going with Vanguard and getting mutual funds.

Responses:

I do, went through a broker at first, Franklin Templeton, now I just make any contributions online. nm -- nm - groiny Jul 30, 07:44
I have a Roth with a brokerage. All stocks. -- nm - Was Bar Was Jul 30, 07:35
I'm probably going to start one this year, because we don't have a 401(k) here currently - znufrii Jul 30, 07:34 6
- and my only real advice is to get professional advice on what to put in it. - znufrii Jul 30, 07:43 5
  - most professionals are trying to sell you something... and if they're not, you're paying a lot. - colin Jul 30, 07:45 4
    - It depends on what type of professional you speak to. - spamlet Jul 30, 08:01
    - note that I said to get the advice, rather than take the advice. - znufrii Jul 30, 07:47
    - oh my goodness. -- nm - peggy ann m Jul 30, 07:46 1
      - i'd like to hear what you have to say... - colin Jul 30, 07:48
Whoa, hold up. Hold on. What are your current investments? -- nm - colin Jul 30, 07:32 13
- Work provides a pension plan which can be convered to a 401k when I leave. Otherwise nothing -- nm - James Bond (aka Igor) Jul 30, 07:36 12
  - pay down your debt should also be a major consideration -- nm - Beaker Jul 30, 07:59 2
    - but I would argue not at the detriment of saving. if his SL debt is at reasonable rates, it's smarter - peggy ann m Jul 30, 08:07 1
      - My loans are 6.5% it will take a while to pay off. I figure I shouldn't wait on retirement savings because otherwise I will start late. - James Bond (on phone) Jul 30, 08:11
  - Start with a Roth IRA. It's the simplest way to get going. Max it out every year - $5500. - colin Jul 30, 07:41
  - Then IRA is your best shot. I would go with a brokerage and Vanguard is a fine one. - spamlet Jul 30, 07:41 7
    - I did talk to a pro that works with our program and he recommend the IRA. I just want to double check stuff prior. ST is smart -- nm - James Bond (on phone) Jul 30, 07:48 4
      - traditional or roth? (or both?) I'm just curious. -- nm - peggy ann m Jul 30, 07:51 3
        
        Roth -- nm - James Bond (on phone) Jul 30, 08:03
        
        since he's already covered by a retirement plan at work, it would have to be a Roth, iirc. -- nm - znufrii Jul 30, 07:53 1
        
        oh fair. curious that work offers "pension" (I assume DB?) but not access to sponsored 401k/other. -- nm - peggy ann m Jul 30, 07:55
    - I agree with spam re: talking to a pro. -- nm - peggy ann m Jul 30, 07:43
    - pension isn't an issue.. just your income. i linked to Publication 590, which is actually pretty easy to read and understand. - colin Jul 30, 07:43

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I am looking into IRAs. Do you have one, did you go with a bank or brokerage firm? Mutual funds, stocks, CDs?

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