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Hello All,
I'd very much appreciate everyone's input on my wife and my decision for start an investment / retirement plan. She is 25 and I'm 33. She is working without any retirement benefits and I'm a full-time MBA student. We are going to use our tax returns of $9,000 to start investing for our future and retirement. On top of that, we're going to invest 15% ($600) of our monthly income as well. After we get our refunds, we are going to start a ROTH IRA, invest in other funds, and open a high-yield savings account. Here is the breakdown:
$5000 will go initially to the ROTH IRA with $5000 invested each year (unless tax laws change). We are either going to go with Vanguard or Fidelity...with either a mutual fund or index fund.
$3000 will then go into investments into a mutual fund or index fund on top of that.
$1000 will go into an American Express 1.5% high-yield savings account. we'll probably move a fair amount of my regular saving (approx $6,000) into this account as well. This will be our rainy day funds...
In regards to the Roth IRA and the additional investment, I am considering the Fidelity Select Medical Equipment & Systems Portfolio, Fidelity Select Software & Computer Services Portfolio, Vanguard International Diversified Emerging Markets Index, and the Vanguard Wellesley Income Fund.
On top of our initial investments, we're going to keep vesting into out index or mutual funds investment and high-yield savings account on a monthly basis. Also, after I get our of grad school, I plan on vesting into a 401k as well.
I was wondering what you think about our current plans and the funds I'm interested in. I'd like to invest into more aggressive funds for our non-IRA investments, and more sound and conservative funds for the Roth IRA. Any advice and suggestions would be greatly appreciated!
I'd very much appreciate everyone's input on my wife and my decision for start an investment / retirement plan. She is 25 and I'm 33. She is working without any retirement benefits and I'm a full-time MBA student. We are going to use our tax returns of $9,000 to start investing for our future and retirement. On top of that, we're going to invest 15% ($600) of our monthly income as well. After we get our refunds, we are going to start a ROTH IRA, invest in other funds, and open a high-yield savings account. Here is the breakdown:
$5000 will go initially to the ROTH IRA with $5000 invested each year (unless tax laws change). We are either going to go with Vanguard or Fidelity...with either a mutual fund or index fund.
$3000 will then go into investments into a mutual fund or index fund on top of that.
$1000 will go into an American Express 1.5% high-yield savings account. we'll probably move a fair amount of my regular saving (approx $6,000) into this account as well. This will be our rainy day funds...
In regards to the Roth IRA and the additional investment, I am considering the Fidelity Select Medical Equipment & Systems Portfolio, Fidelity Select Software & Computer Services Portfolio, Vanguard International Diversified Emerging Markets Index, and the Vanguard Wellesley Income Fund.
On top of our initial investments, we're going to keep vesting into out index or mutual funds investment and high-yield savings account on a monthly basis. Also, after I get our of grad school, I plan on vesting into a 401k as well.
I was wondering what you think about our current plans and the funds I'm interested in. I'd like to invest into more aggressive funds for our non-IRA investments, and more sound and conservative funds for the Roth IRA. Any advice and suggestions would be greatly appreciated!
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