well i put my fears behind me and went for it... i opened a ROTH IRA today with ING DIRECT (well one of their side companies anyways)... and they made it simple. I wanted Mutual funds for diversity and cause i hear they are safer.... so I chose 2 different mutual funds to invest in:
- IDBAX Ing Direct Balanced Fund
- IDSLX Ing Direct Strategic Allocation Moderate Fund
I have 25.00 a month taken out and put into each of the mutual funds for a total of $50.00 a month. [not to shabby for a 21 year old girl who didn't have any retirement accounts a whole 15 minuets ago] Right now i have money going to the following accounts:
- Fannie mae FNM
- Exxonmobil corp XOM
- General Electric Co GE
- Jp Morgan Chase & Co JPM
- U.S. Treasury Note/Bond
- Chevron Corp CVX
- CISCO Systems, INC CSCO
- Citigroup, INC C
- Bank of America Corp BAC
- Microsoft Corp MSFT
woot! [ya gotta love pay raises!!!!] Who knows maybe i'll be able to max out my IRA this year... how cool would that be!!!! but probably not. [with the current minimums were looking at 350.00 of a possible 4,000] but ya never know! I never thought i'd get this far in in the first place!
WOW! At 21, I wish I was half as financially savy as you are. You are waaaaaaaay ahead of the game.
ReplyDeleteKeep up the good work.
I'll be back to watch your progress!
Great job! You will be amazed at how the compounding interest can really add up!
ReplyDeleteit finally showed up on my account box... when i log in!!!!
ReplyDeletesadly tho, its a little down the morning... but its the long run that counts!!!!
You are so ahead of the game. I am 30 and am just now really getting in the groove. Im still young and can appreciate your determination. LUV IT!!!
ReplyDelete