Stock market 4/7

[TennFan]

Stock market is taking a beating today!😬😮😧😝😟
Dow is down 141 and S&P down 19.43 at 1 pm

 

[BAJAvol]

With it being an election year I need to move my 401k out of an aggressive model into a conservative.

 

[Coug]

Good, means gas prices drop back again.

 

[T-TownVol]

Posting it in the actual stock market thread was not enough?

 

[VolStrom]

Stock market is taking a beating today!😬😮😧😝😟
Dow is down 141 and S&P down 19.43 at 1 pm

You must be new to investing. The market goes up and down. Overall over time it goes up.

Patience grasshopper.

 

[Biopsyman]

Stock market is taking a beating today!😬😮😧😝😟
Dow is down 141 and S&P down 19.43 at 1 pm

Feeding your investment model every month over the long term will make you wealthy..The power of compounding will accelerate as you build your base...

 

[rs16]

Good, means gas prices drop back again.

Dreamer. There is always an excuse for gas prices.

 

[Nerd-Vol]

Feeding your investment model every month over the long term will make you wealthy..The power of compounding will accelerate as you build your base...

You seem to spend a lot of time reading about investments.

I'm turning 30 next year and I need to start thinking about the long term. I've got a healthy savings account and I'm wondering about my next step. Should a Roth IRA be the next thing for me? I remember going to a seminar back in college about money management and they spoke highly of Roth IRA.

 

[VolGee4]

You seem to spend a lot of time reading about investments.

I'm turning 30 next year and I need to start thinking about the long term. I've got a healthy savings account and I'm wondering about my next step. Should a Roth IRA be the next thing for me? I remember going to a seminar back in college about money management and they spoke highly of Roth IRA.

Not a financial guy, but I would certainly recommend a Roth IRA. There are some restrictions on a Roth depending on income. I also have a regular IRA for tax purposes. I work for myself and make the contributions for a deduction. It just means I will have to pay taxes on it when I can take it out.

 

[govols09]

Nerd do you have an employer Match? I would contribute to that level first.

 

[rs16]

Nerd do you have an employer Match? I would contribute to that level first.

Indeed.

 

[Nerd-Vol]

Nerd do you have an employer Match? I would contribute to that level first.

Nope. We have a 401k but it's non matching. So I've not bothered with it.

 

[mdrew27]

You seem to spend a lot of time reading about investments.

I'm turning 30 next year and I need to start thinking about the long term. I've got a healthy savings account and I'm wondering about my next step. Should a Roth IRA be the next thing for me? I remember going to a seminar back in college about money management and they spoke highly of Roth IRA.

Do the maximum company match and try to max out your Roth every year ($5500). Unless you have a lot of time to research investments you should invest in an index fund in line with the Dow, S&P, or Nasdaq. Contribute every pay period . You'll be suprised how much your portfolio will grow over 5 years. Even greater over ten.

 

[Fred_Jones]

You seem to spend a lot of time reading about investments.

I'm turning 30 next year and I need to start thinking about the long term. I've got a healthy savings account and I'm wondering about my next step. Should a Roth IRA be the next thing for me? I remember going to a seminar back in college about money management and they spoke highly of Roth IRA.

I recommend you start asap. You can have it growing for 30+ years.

 

[Nerd-Vol]

Thanks for the help folks. I'll start working on a Roth IRA.

 

[YankeeVol]

Roth IRA is the way to go

 

[jhen713]

We have a Roth 401k option at work. Company match 100% up to 6%. Been thinking about raising my contribution for a while. Not sure if I want to do that or pay down my mortgage. Would love to be house payment free a little earlier. Will make paying for kids college easier.