| If you're new to investing and don't know where to | | | | So how do you start? Find a local financial |
| start perhaps some of these recommendations will | | | | representative in your town. Edward Jones are |
| get you thinking and motivated to do something | | | | popular because of all the hand holding they provide. |
| today. | | | | However, there are other options. You can even do |
| I've been investing since I was in college and wish I | | | | it all online these days. Ask a friend or family member |
| would have started sooner. The compounding power | | | | if they have a mutual fund doing well for them. Of |
| of time is the best tool anyone has when it comes | | | | course, there's no guarantee of stellar returns in the |
| to saving for retirement. The other advantage is | | | | future, but at least it's something. |
| actually have the gumption to do it. If you just think | | | | Even just $50-$100 a month will get the ball rolling. |
| about it and never do anything then all your good | | | | Imagine the look in your kids eyes if they graduate |
| plans are useless. | | | | you have tell them there's no money for college. If |
| Start with a basic assortment of mutual funds (or | | | | you want your kids to have great opportunities in |
| even just one) in a Roth IRA. If you have a 401k | | | | life, give them a head start, even if it's just a |
| option at work, especially if there's a company match | | | | semester that you help pay for. |
| option, definitely do that first. Company match means | | | | Don't neglect your own retirement while trying to |
| free money for you. Don't pass on that. After the | | | | pay for college. Experts would tell you to fully fund |
| 401k you'll want to open a Roth IRA. The advantage | | | | your own future before working on your kids. I |
| of a Roth is that the money grows tax free and you | | | | agree with that, however, I do put money away for |
| can take it out tax free when you retire. That alone | | | | school for them because my parents did it for me |
| means a savings of tens of thousands of dollars, if | | | | and it was a huge help in my early married life to |
| not much more. Some consider the Roth to be | | | | have so little school debt. |
| almost miraculous in the financial world and can't | | | | Do what you can. Don't be afraid of it. Doing nothing |
| believe the government would let us have one. | | | | is far scarier. |