GREAT TOPIC. I was going to pull up an old thread in DST LAND but will do that later.
LAst week, I finally put my foot forward for my investments. I opened up a ROTH IRA. I already have a retirement fun from the school board but since I know that I will not be teaching forever
, I wanted some more financial funding. Basically I opened it with $100 and as long as every year I deposit $2000, I will have close to $1,000,000 by the time I am 60 just from the IRA.
By the end of August, I am going to start a money market account for just $1000. The daily interest was 3%.
I only wish I had started my investments especially my IRA back in 98 after college because I would only have 2 more years to get a return that would equal a down payment on a home.
For all of the financial investors, what are some good websites that feature online advice about IRAs. I want my mom to open one so that she has "something else" retirement wise.
In as far as why so few people invest, we have a lot of people who are afraid to take a "risk" yet are being risky without having investments. I did a lot of reading on the Net and consulted trusted older coworkers who have investments.
My theory is MAKE MY MONEY WORK FOR ME so LATER I DON'T HAVE TO WORK FOR MY MONEY.