Ask Terry Questions IRA type and investments

IRA type and investments

By Terry Savage on June 03, 2023 | Investments

Hi! I am 55 years old & divorced. I only have about $2000 in savings. Just opened an IRA. Would u recommend Roth or regular? (I make about 80,000 a year.)
Thank you!

Terry Says

Make it a Roth, and contribute every year. If you go to Fidelity or Vanguard, put half in their MM fund and half in the S&P 500 fund. And don’t look at it for at least 10 years! Betting the stock part does better than the MM part at the end of 10 years!



a personal
finance question