September 25, 2008
who would i talk to about opening a IRA or planning for retirement?
mr_and_mrs.x asked:
my husband and i work for places that don’t offer ira or any kind of retirement plans. We have been saving some money in a normal savings account for a little while,but i want to move on to something better. My husband says to keep it in the normal savings account, i told him maybe a ira or investing may be better. i told him that there are many more ways of making more money than a normal savings account. We don’t know where to start or who to talk too. any suggestions?
Treyvon
my husband and i work for places that don’t offer ira or any kind of retirement plans. We have been saving some money in a normal savings account for a little while,but i want to move on to something better. My husband says to keep it in the normal savings account, i told him maybe a ira or investing may be better. i told him that there are many more ways of making more money than a normal savings account. We don’t know where to start or who to talk too. any suggestions?
Treyvon
Comments on who would i talk to about opening a IRA or planning for retirement?
For starters, invest in Vanguard mutual funds. They provide no load funds with great returns.
Get a Financial Adviser to help your family with monetary planning.
If you don’t know any the easiest way is to query at a bank,be wary though they may try to push certain product.Listen 1st,go home and think and then make your decision.
All the Best!
I recommend Primerica Financial Services, A Citi Company. I open my Roth IRA there. The agent did a thorough job of explaining what a mutual fund is and what an IRA is and was able to answer my questions. In the IRA application, it ask me some questions to find out what type of investor I am. It turned out I’m an investor who wants high growth, no matter what happens in the short term.
From there, he recommend me what mutual funds I should pick and how I should divide my investment into each fund. My Roth IRA currently has an average rate of return of 14%. I think the agent who pick these mutual funds for me did a good job.
Now I work at Primerica and I changed the agent on my IRA account to me. Every time I invest into my Roth IRA, I now earn commissions. lol. I didn’t join Primerica for that reason. I joined because I wanted to help people and educate people about finance.
If you have debt, Primerica can give you solutions on how to get out of it for free. If you have life insurance and would like to lower your premiums, Primerica can show you a life insurance plan to do that. That way you would have more money saved.
Since the latest round of deregulation its actually very easy. Banks and Insurance companies now sell these products, not just investment houses. Next time you stop at State Farm to pay your car insurance bill, ask your agent about IRAs and Mutual Funds!