Roth IRA Advice! PLEASE Help

[TrinityBantam1]

Good Afternoon everyone,

Firstly, thank you for taking the time to read my post. I am truly in need of some advice from experienced individuals.

I just turned 23 years old. I have 8k in credit card debt. (I am committed to paying off this debt and currently have a plan to be out of debt by the end of 2014. I do not plan on using any of my credit cards and all.

I do not have any savings. I am going to enroll in my employer's 401k and open a roth ira and deposit around 200 dollars each month.

What type of investments should I make within my roth ira? From what I've read it seems that index funds are currently the best bet? With whom should I open the roth Ira?

Any advice would be appreciated. Thanks so much.

[feh]

This is a great place to start: http://www.bogleheads.org/wiki/Bogle...g_start-up_kit

[Petunia 100]

You do need to save for retirement, but you also need some cash parked in a savings account. Otherwise, the first unplanned expense which comes along will either go on a credit card, or you will be forced to tap your retirement savings.

First things first.

[snafu]

I too suggest beginning by creating a savings account with automatic contributions each pay cycle. It's a terrific 2nd step to join your employer's retirement plan and wonder if there is any matching contribution, it's rate, when it comes into effect and any 'vesting' rules. When joining a plan, it's critical to know fees and Management Expense Ratio [MER].

Good on you for understanding the need to clear that credit card [CC]. What is the interest rate? Have there been any fees added? How much interest has been added to your balance for whatever statements you may have retained?