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  1. #1
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    What kind of mutual funds do you guys invest in?

    Just opened up a roth IRA account and putting 6k towards 2019 and 6k towards 2020. Too many different options to invest in, do you guys have any recommendations? I'm ok with higher risk since I'm still fairly young.

    Thanks!
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    Registered User heyquikquestion's Avatar
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    Buy an S&P 500 index fund. It's the biggest 500 companies in the United States so you'll get market exposure without the unsystematic (company) risk. I'm partial to ETFs over mutual funds so buy as many shares as you can of SPY and reinvest your dividends. Most online brokerages are free to trade now so don't pay a commission to make this trade. Keep contributing the max to your Roth every year and once it hits $25k or so you can start looking in to adding some international exposure.
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    6’5” 256# headturner1's Avatar
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    Mutual funds have too many fees

    You want an index fund and my man above suggested my favorite: spy
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    Banned wutevs's Avatar
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    Thanks guys, have heard about the S&P 500 but didn't know much about it - basically just read an article about Warren Buffet investing in that lol

    Does $332 a share sound about right? Looking it up on Fidelity.
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    Registered Republican Omnivium's Avatar
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    I like ETF's since they're easy to buy and sell. SPY is the safest/most popular one, but the returns aren't the best. If you want more risk, you can look into QQQ and SOXX
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    6’5” 256# headturner1's Avatar
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    Originally Posted by wutevs View Post
    Thanks guys, have heard about the S&P 500 but didn't know much about it - basically just read an article about Warren Buffet investing in that lol

    Does $332 a share sound about right? Looking it up on Fidelity.

    Sounds about right to me. You may want to look at vanguard funds as well. They have one that is similar to spy with a lower expense ratio.

    ^I buy the Qs on occasion as well. Definitely a little more risk, but it’s been very good to me as well the last few years.
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    I do VTSAX on vanguard.
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    Originally Posted by Omnivium View Post
    I like ETF's since they're easy to buy and sell. SPY is the safest/most popular one, but the returns aren't the best. If you want more risk, you can look into QQQ and SOXX
    10 year return stands as 13.85% according to Fidelity. That's low? Damn. Last year looks like it was a good year all across the board, shooting myself in the foot for not getting in earlier.
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    6’5” 256# headturner1's Avatar
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    Originally Posted by wutevs View Post
    10 year return stands as 13.85% according to Fidelity. That's low? Damn. Last year looks like it was a good year all across the board, shooting myself in the foot for not getting in earlier.
    No time like the present. More gains are lost by sitting on the sidelines typically. That being said, I keep a little bit of cash for emergency purchases
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  10. #10
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    Originally Posted by headturner1 View Post
    No time like the present. More gains are lost by sitting on the sidelines typically. That being said, I keep a little bit of cash for emergency purchases
    Speaking of that, I was talking to this guy at Fidelity and he told me that even with my contribution to a roth IRA, if I withdraw that (not earnings) in under 5 years, I'll get penalized at 10%.

    Wot. I thought I was free to withdraw my original contribution as I please? I wouldn't but just thinking about emergencies or if I need more money for a down payment on a future home.
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    dont do mutual funds..those are traded differently than stocks...you want to buy SPY stock.not a fund
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    Good job on starting to invest in your future. While there are a bazillion mutual funds out their and it seems impossible to figure out how to decide which ones to chose, the actual decision is extremely simple. Invest your retirement in broad based index funds. Your retirement is not the place to take risk. Index fund investing is definitely not fast or exciting at all but stick with the plan and eventually you'll be blown away at the number you see in your retirement plan. Save the risk taking for the personal investment account.
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    Originally Posted by wutevs View Post
    Speaking of that, I was talking to this guy at Fidelity and he told me that even with my contribution to a roth IRA, if I withdraw that (not earnings) in under 5 years, I'll get penalized at 10%.

    Wot. I thought I was free to withdraw my original contribution as I please? I wouldn't but just thinking about emergencies or if I need more money for a down payment on a future home.
    That is right. You need a rainy day fund at first. 3 to 6 months of must pay expenses. Then I’d build up a 401k and then your Roth. After that after tax investments which you can use for a down payment - I did.

    It doesn’t matter MF or ETF in your Roth. Reg IRA or after tax I would go ETF just due to no capital gains.

    I would find any of the S&P 500 MF’s that charge below 0.05% fees. Whatever MF doesn’t charge you a purchase or sales fee. MF’s are weird about that.
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    Originally Posted by wutevs View Post
    Speaking of that, I was talking to this guy at Fidelity and he told me that even with my contribution to a roth IRA, if I withdraw that (not earnings) in under 5 years, I'll get penalized at 10%.

    Wot. I thought I was free to withdraw my original contribution as I please? I wouldn't but just thinking about emergencies or if I need more money for a down payment on a future home.

    You can withdraw the contributions in a ROth IRA at any time, but the 10% he is referring to is the IRS-imposed early withdrawal penalty for taking a cash distribution prior to retirement age i.e. 59.5 years old. This is assessed apart from any federal income tax, it's not the same thing. However, there are several exemptions to the EWP and it just so happens that purchasing a home is one of them. You can withdraw up to $10k for this reason. You will have to file a Form 5329 to claim an exemption at tax time, talk to your accountant for more details.
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    Originally Posted by wutevs View Post
    Speaking of that, I was talking to this guy at Fidelity and he told me that even with my contribution to a roth IRA, if I withdraw that (not earnings) in under 5 years, I'll get penalized at 10%.

    Wot. I thought I was free to withdraw my original contribution as I please? I wouldn't but just thinking about emergencies or if I need more money for a down payment on a future home.
    https://www.investopedia.com/roth-ir...-rules-4769951

    Contributions and Earnings
    Roth IRA withdrawal rules differ depending on whether you take out your contributions or your investment earnings. Contributions are the money you deposit into an IRA, while earnings are your profits. Both grow tax-free in your account.

    You can withdraw your Roth IRA contributions at any time, for any reason, with no tax or penalties. That's because you make contributions with after-tax dollars, so you've already paid taxes on that money.


    Withdrawals on earnings work differently. These distributions may be subject to income taxes and a 10% penalty, depending on your age and how long you've had the account.
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    I do VTWAX via Vanguard
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