Looking for Growth. Funded by ROTH IRA
I have $7000.00 to put into a mutual fund. I am not risk adverse. Can you recommend a start up growth fund. I am 74 yrs old.
Terry Says
That’s difficult advice to give blindly. I’d need to know a lot more about your future need for that money in context of your other investments and cash.
You say you are NOT risk averse. Yet if I phrase the question another way, I bet I’ll get a different answer! What if I ask:
“How much of this money are you willing to lose?” That’s a much more important perspective. And remember, if the money is in an IRA, you can’t deduct any losses from ordinary income.
If you still say you need to invest this in a mutual fund, I’d suggest an Equity/Income Fund from Fidelity or T. Rowe Price or Vanguard. That’s fairly conservative exposure to the stock market.
