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Old 11-13-2008, 10:42 AM   #21
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Agreed. Every man (well almost every one) said if they could do it all over again they never would get married.
There's time for both (going wild and settling down) ... the fun is different, but if I could do it over again, I would do the same thing - get married to a wonderful woman!!

Also, if I were under 25, I would make sure I had an emergency fund in cash/extremely short term bonds, and then I'd be investing every penny I had in the stock market... dollar cost average in if that makes you feel better (and of course, if that is how you must do it, like in a 401K).

I'd invest and then leave it alone until I was 40... then I'd add some bonds...

Good luck!
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Old 11-13-2008, 11:04 AM   #22
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With stocks being so far down, wouldn't a high risk mutual fund make better sense since the market will likely go up in the next 5-10 years? Hopefully a lot up!
Our 16-year-old has been putting every penny of her salary in her Roth IRA (an international equity index) and sending an additional $60/month to a taxable small-cap value equity index. Of course she gets a great deal on room & board, too, so it's easy for her to be excited about these 40%-50%-off sales.

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Also, what are some fair expense rates should I look for when choosing a company to start a mutual fund? Don't take me as ignorant, I have taken personal finance classes in college, but I want to get opinions before I jump in the pool. I talked to a friend of mine tonight who does audits for the government and he said to look inot Edward Jones.
You can easily invest in Fidelity or Vanguard funds with 0.10% expense ratios-- or even less. I'd say that 0.25% is a good goal and 0.6% the absolute highest expense ratio I'd consider paying.

I think many many auditors should look into Edward Jones-- if you give them your money then you will certainly get an education in personal finance. Once you've decided on your asset allocation, stick with Fidelity or Vanguard or Schwab.
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Old 11-13-2008, 11:30 AM   #23
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My son is 24 and he's been watching the market for a while, thinking it's time to do something already with his growing savings. So he paid off his car and in October he opened a Roth IRA and bought Vanguard VFINX (S&P 500 Index mutual fund) and set up for an additional monthly investment. He's reading a lot about investing and learning a lot.

At a young age it's hard to think about the long view.
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Old 11-15-2008, 01:54 AM   #24
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My son is 24 and he's been watching the market for a while, thinking it's time to do something already with his growing savings. So he paid off his car and in October he opened a Roth IRA and bought Vanguard VFINX (S&P 500 Index mutual fund) and set up for an additional monthly investment. He's reading a lot about investing and learning a lot.

At a young age it's hard to think about the long view.
Sue, your advice is exactly what I'd tell the OP. Stock index fund (total stock market, internation, or SP 500) with low expense ratio - with dollar-cost-averaging.
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