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26 y/o with a few questions to get it right!!!
Old 01-20-2010, 09:41 PM   #1
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Join Date: Jan 2010
Location: Houston
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26 y/o with a few questions to get it right!!!

I my name is wayne and I have been saving for retirement since I was 22, I currently have a little saved, but not as much as the average user here. I enlisted in the Navy when I was 17. I do save in TSP as well. I love the site and I can't wait to learn from everyone here.

I do have one question though, I currently have a roth IRA with American Funds and I was wondering if it would be a good idea to switch over to my bank USAA. I have searched the site for answers but I can't find anything like this. Right now I have 25 % in Euro growth pacific fund, 25 % in Fundamental investors 25 % in the growth fund of America and 25 % in the investment company of America.
I was wondering if it would be a good idea to switch to USAA in the following funds 30 % in USAA capital growth fund 30 % in USAA S&P 500 index fund member shares and 40 % in USAA cornerstone strategy fund?

It would be nice to utilize one bank for everything.
Also what does everyone here think about target retirement funds?

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Old 01-21-2010, 06:51 AM   #2
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Join Date: May 2007
Posts: 1,508
Welcome from another Houstonian. And congrats on establishing good savings habits at a young age.

My two cents on your questions...

Keep the questions of where to put your stash and the allocation of funds separate.

But first, check out the FAQ and search features to identify recommended reading. The forum advice, while generally good, by its nature tends to give tips in bits and pieces. As someone starting out in investing, you will benefit greatly by more comprehensive study on all of the relevant considerations of household money management, savings vehicles, asset allocation, tax considerations, etc. The book that opened my eyes at your age was The Only Investment Guide You'll Ever Need, by Tobias. You can move onto more complex strategy books later.

With a better grounding in the fundamentals, take the time to write down a five- and ten-year strategy. Not just a target number, but an outline of how you think you can get there.

Tackle the "where" question next, researching the breadth of fund offerings, typical funds loads and expenses, etc. What seems like a tiny difference in expenses makes a large difference over time. TSP certainly excells in this regard.

The last piece is finding the right funds at your chosen "bank".

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Old 01-21-2010, 07:18 AM   #3
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Good advice. If you don't want to do the work of learning about investing (and you should), a Target fund at a place like Vanguard is an excellent choice.
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