Stocks now for a new IRA?
Hi Terry,
I was going to put $5,000 into my IRA but thinking maybe putting it in the stock market since what is going on now. Would that be a good Idea? or should I do something else.
Terry Says
I don’t know how old you are, when you plan to retire, or what your risk tolerance is! But it’s always a good idea to have an IRA working for you.
At this point I would open the account at Fidelity or Vanguard and put it ALL in a money market fund. Then leave instructions to transfer $500 to the S&P 500 stock index fund on the first day of each month. Br dribbling it into the market you don’t have to worry about timing.
