Badger
Thinks s/he gets paid by the post
- Joined
- Nov 2, 2008
- Messages
- 3,411
My step daughter (50) has asked for my help to start investing some of our annual gift, $15k, to her. The gift is in 2 parts - half for Christmas for both of them and the other half for her on her birthday. She would like to put her birthday money aside for retirement. She is a teacher and I don't think she has a 403b. Her pension will be from the state for maybe 20+ years of service if she stays for the next 10 years.
She has $10k and doesn't know anything about how to invest. Her husband knows less. Although my wife and I have done well for ourselves over the years I think a good portion has been luck and not being aggressive or greedy so maybe not the best source of investment knowledge but we are the ones she trusts.
She is not interested in all the technical parameters of investing but I plan to share what little I know. I think she plans to keep this her own retirement stash.
One plan would be for her to open a Roth (preferred) or traditional IRA with the money. Since I am somewhat familiar with Vanguard I was thinking of
Target Retirement 2035 or
Total Stock Mkt Index or
500 Index or
Wellesley or
Wellington
If it is a stock fund I would need suggestions on something for balance. The investments would need to be something she would add to each year and leave alone.
What would you do in this situation?
Cheers!
She has $10k and doesn't know anything about how to invest. Her husband knows less. Although my wife and I have done well for ourselves over the years I think a good portion has been luck and not being aggressive or greedy so maybe not the best source of investment knowledge but we are the ones she trusts.
She is not interested in all the technical parameters of investing but I plan to share what little I know. I think she plans to keep this her own retirement stash.
One plan would be for her to open a Roth (preferred) or traditional IRA with the money. Since I am somewhat familiar with Vanguard I was thinking of
Target Retirement 2035 or
Total Stock Mkt Index or
500 Index or
Wellesley or
Wellington
If it is a stock fund I would need suggestions on something for balance. The investments would need to be something she would add to each year and leave alone.
What would you do in this situation?
Cheers!