By Terry Savage on May 26, 2014 | Financial Planning / Retirement

am 50 whats best place to open roth ira and how do I manage it without being directly involved.

Terry Says:  There are many places to open a Roth IRA — but I’d start with a place like Fidelity or Vanguard or T. Rowe Price (;; — There you can pick a mutual fund such as an equity-income fund, and open your IRA.  You must have a minimum of $1,000 to start — and agree to monthly contributions of at least $100, to be automatically taken out of your checking account.  Just stick with it and don’t worry about the ups and downs of the market.  At your age (50- and older) you are allowed to contribute as much as $6500 in one year, if you meet the basic income requirements, which you’ll find on the websites I mentioned.  The more you save the better!  Just stick with an equity-income fund, which is a sort of conservative stock market fund, and you won’t have to be “directly involved.”

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