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I have very little money (around $400) in my Roth account...but it is basically in cash reserves. It is not really allocated into any funds. I want to start contributing to the Roth account this year. How do I figure out how to allocate everything? I am 28 now...
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You need to take a risk questionaire like this one
T. Rowe Price - Personal Guides
which should help you.
If you type in 100k when it asks you how much you plan on investing it gives you a different answer than if you type in $400.
Vanguard has a better questionaire
I am sure there are others on many other sites.
If the allocation comes to less than 60-40 (60% equity and 40% bonds), you should discuss the questions and answers in detail (IMO).
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