Since I’m getting older or old, I guess I should start saving at sometime. I was reading about those who’ve opened a Roth IRA. Seems like it’s something I should do ASAP. Opinions?
Basically all I know is that there are “conservative,” “moderate” and “aggressive” investing packages. And that I can get it through ING fairly easy. Is that all there is? Push money and cross your fingers?
If you don’t have a retirement account setup by now you really, really should. For someone your age a moderate or even aggressive account would be best. The idea is to be most aggressive when you’re younger, tapering off toward conservative as you near retirement. If your company offers a 401(k), particularly if they have any kind of matching, that would be even better. With the current market forecast I’d probably go with a moderate for the next 2 years, followed by an agressive 20/80 split or so for the next 15, followed by another 5 or 10 conservative, followed by drinking at your retirement party, fatally crashing your hoveround into a tree.
I agree with nebulous, moderate to aggressive is the way to go for a single guy in our age level.
The ROTH is better, because the cash is taken after taxes, meaning that, unless I’m mistaken, should you ever have to (God Forbid) cash it out before you retire, you won’t get nailed with taxes on it. Although, that’s “if” you take it out early, which you know, you wouldn’t want to do anyway.
But yeah, I say do it! I’m hooking mine up now too.
The Roth, not to be mistake for David Lee, I believe is taxed on the way in and not on the way out. But you pay Ass-Loads(TM) if you pull out early, which is the only time in life you won’t want to.
I hooked up a moderate plan. See you in the future moneys.
Maybe I should split my plan to 50% moderate and 50% aggressive.
It’s kind of funny how investing in an IRA is the exact opposite of having sex with your girlfriend. With a girlfriend, you pay Ass-Loads(TM) if you DON’T pull out early.
At your age, a 50 / 50 split would probably be alright, provided you’re mindful of what you pick, and how long you keep it 
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i’ve had a moderate Roth IRA at Charles Schwab since I was 18, and been putting in $50/mo since then…….its somewhere in the vicinity of 25K now…..yay!!!! of course if you ever need to borrow money out of that acct, they’ll penalize you like 18% of what you take out