I need investment advice
Question: I am new to this and need some help. My husband and I together make about $50k annually. We have a couple of kids. We need to start saving for our retirement and for the future education of our children. We do not have a retirement fund at work. Any ideas?
Answer: A roth IRA with Vanguard may be a good way for you to begin. The Roth provides tax-free returns, using income that’s already been taxed. Vanguard has a wide array of mutual funds which all feature low expenses, thus maximizing your returns. You can also have a brokerage account with them if you wish to trade individual stocks.
Re: saving for children’s education, keep that portion in your/your husband’s names. This avoids problems later if your kids take advantage of grants or student loans.
These are my opinions, you should speak to a professional before you begin investing. Also, do some reading if you envision stock trading in the future. You hear about the success stories, but a lot of people get hurt investing w/out knowledge
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