What is advice you have for setting up a retirement account?

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Posted by Del Dinkins (MONEY FORUMS: 7, Answers: 0)
Asked on May 12, 2016 11:35 pm
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If you are doing this independent of your employment, it is easy to do. I am most familiar with how this works with the largest mutual fund companies, like Vanguard or T Rowe Price, etc. (Vanguard has the lowest management fees). They step you through the process online, and it is pretty easy. You can set up a traditional or a Roth Ira, and even one of the self-employment types of retirement accounts if you are eligible. If you have $1000, you will be limited to investing in a target date fund, but as you accumulate more you can choose funds with higher minimums. You can set it up to make regular deposits, either from your paycheck or your bank account, to add to the account. If you do not yet have $1000 to open an account, there are other financial sites you can access for investing in mutual funds, I’m just not sure if you can designate your investment as a retirement account.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: May 30, 2016 9:16 am