My job offers no benefits like 401k ect. I need to do something for retirement but I am not sure what is the best way to save. I can only work part time, as I take care of my granddaughter.
thanks!!
2007-02-27 08:17:49 · 5 answers · asked by 2ndchhapteracts 5 in Business & Finance ➔ Personal Finance
Talk to a local advisor about starting a Roth IRA.
Setup automatic investment into the Roth so that you can "set it and forget it".
2007-02-27 08:21:35 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Everyone is right, go with a Roth IRA, then the question is what funds do you put your contributions into. Look for Indexed stock funds, that mirror the Wilshire 5000 and the S&P 500. Go to vanguard.com, they are generally regarded as the best and cheapest (no association, I just use them myself).
Also check out www.daveramsey.com, www.suzeorman.com, and www.brucewilliams.com for some good advice.
2007-02-27 08:29:42 · answer #2 · answered by AirDevil 4 · 2⤊ 0⤋
Anyone can create an IRA. This is your best option. A 401K offers the advantage of using pre-tax dollars. This means that it also lowers your taxable income. With an IRA you have to wait until tax time to recover the part that was taxed.
2007-02-27 08:31:59 · answer #3 · answered by Ernie 4 · 0⤊ 0⤋
Open a Roth IRA......use a low fee no load mutual fund family like Vanguard. Diversify with s/p 500 index, some foreign, some small cap. funds.
2007-02-27 08:21:18 · answer #4 · answered by missourim43 6 · 3⤊ 0⤋
Roth IRA's
Check out Suze Orman.com
She is a wealth of knowledge & just wrote a book specifically for women.
2007-02-27 08:21:40 · answer #5 · answered by ♣Hey jude♣ 5 · 1⤊ 0⤋