dpark6
Dryer sheet wannabe
Hello,
I'm 25 years old and currently work full time. Long story short, I'm finally ready to invest some of my hard earned money into the money market to kick start my Early Retirement Fund.
Below is an outline of my current/future siutation/plan:
- I have $3,000 that I would like to use as my initial investment
- I would like to retire at the age of 55-60 (year 2043-2048)
- I make $36,000 anually before taxes
- At my current rate, after expenses, I'm able to save about $8,000 a year
- My company matches 5% of my 401K contributions
I've had very little knowledge in regards to investing and still have much to learn. The past month I've been doing a lot of research on IRAs, Roths, and Mutual Funds. I've become interested in opening a Vanguard Target Retirement Fund, particulary with the VTIVX, and setting it up within a Roth IRA. I
I suppose my question then would be, if you were in my shoes, would you consider investing in this mutual fund? If not, what would you suggest I do with my $3,000 to kick start my Early Retirement Fund? Any input would be much appreciated, thank you
I'm 25 years old and currently work full time. Long story short, I'm finally ready to invest some of my hard earned money into the money market to kick start my Early Retirement Fund.
Below is an outline of my current/future siutation/plan:
- I have $3,000 that I would like to use as my initial investment
- I would like to retire at the age of 55-60 (year 2043-2048)
- I make $36,000 anually before taxes
- At my current rate, after expenses, I'm able to save about $8,000 a year
- My company matches 5% of my 401K contributions
I've had very little knowledge in regards to investing and still have much to learn. The past month I've been doing a lot of research on IRAs, Roths, and Mutual Funds. I've become interested in opening a Vanguard Target Retirement Fund, particulary with the VTIVX, and setting it up within a Roth IRA. I
I suppose my question then would be, if you were in my shoes, would you consider investing in this mutual fund? If not, what would you suggest I do with my $3,000 to kick start my Early Retirement Fund? Any input would be much appreciated, thank you
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