Thread: IRA Help

Results 1 to 7 of 7
  1. #1
    Member
    Join Date
    Dec 2007
    Location
    Pompton Lakes
    Posts
    2,369

    IRA Help

    For a variety of reasons, none I'll get into here, got started planning for retirement for too long. Started a few years ago around 40. Debating opening an IRA in addition to 403B. Should I be looking at a traditional IRA or something investment IRA related? I also have no plans on doing any of this myself. so if it's something like an investment IRA, I am going to have someone manage this for me. Not sure if that makes a difference at all. Thanks in advance.

  2. Member
    Join Date
    Feb 2010
    Location
    Clinton, IA
    Posts
    1,119
    #2
    I'd just go the simple ROTH IRA personally....put in as much as you can afford up the the max. Your investor can manage it for you and setup auto deduct monthly from a checking or savings etc.

  3. Stocks/Investments Moderator boneil's Avatar
    Join Date
    Jul 2010
    Location
    Aberdeen, MD
    Posts
    12,147
    #3
    I'm not sure what you mean by traditional IRA vs investment IRA. I thought it was traditional or roth. All IRAs are for investing. Spend some time looking on Vanguard's website. But yes open an IRA account if you want another retirement account.
    Thanos was the hero

  4. Member
    Join Date
    Nov 2011
    Location
    Coral Springs, Florida
    Posts
    10,790
    #4
    I believe Vanguard has a robo advisor. I have not looked at it but you might want to look at that as the fees may be cheaper than having it managed by a person.

  5. Member
    Join Date
    Sep 2007
    Location
    SE Wisco/Phoenix AZ
    Posts
    104
    #5
    What is your annual household income? What is your current tax bracket?

  6. Member
    Join Date
    Apr 2019
    Location
    Smithville Missouri
    Posts
    345
    #6
    How about consulting a tax advisor for correct info

  7. Member
    Join Date
    Mar 2023
    Location
    Upstate Georgia
    Posts
    224
    #7
    Speak to someone locally that knows the different types and consider whether a self directed IRA would work for you as well. An SDIRA is a good way to hold investment real estate if that is of interest.

    Those that bought real estate during the last downturn in a SDIRA are glad they did.

    A 403b usually means government employment and more often than not, a college or university. Is that your situation?