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I have 2 Roth IRA's w/ Vanguard.
One of them is the Total Stock Market Index Fund. I didn't need a minimum to start it, but I did have to sign up to have my monthly contribution debited from my checking account. The other fund I needed $3k to start it, but it has much higher return
Shib-
Mutual funds are basically a collection of stocks. There are aggressive funds, growth funds and combinations thereof. So, basically, you contribute whatever you want each month and watch it grow. That way if one of your stock within a fund does tumble, chances are the other stocks will gain and even out your losses.
Unless you have a LOT of money (Like $100k), then day trading, or just buying a few stocks here and there is not going to give you a whole lot of return w/ the amount your investing.
Stick w/ a Roth IRA. It's not tax deductible, because it is post tax contributions. But, if you ever need it, you don't have to pay a huge penalty to get it. I would stick w/ a Growth/Income type fund for the long term. If you're looking for quick returns, you can try an Agressive blended fund. On Vanguard's site they will have your 1, 5, & 10 yr average rates of return to make the best choice for you and your future
One of them is the Total Stock Market Index Fund. I didn't need a minimum to start it, but I did have to sign up to have my monthly contribution debited from my checking account. The other fund I needed $3k to start it, but it has much higher return
Shib-
Mutual funds are basically a collection of stocks. There are aggressive funds, growth funds and combinations thereof. So, basically, you contribute whatever you want each month and watch it grow. That way if one of your stock within a fund does tumble, chances are the other stocks will gain and even out your losses.
Unless you have a LOT of money (Like $100k), then day trading, or just buying a few stocks here and there is not going to give you a whole lot of return w/ the amount your investing.
Stick w/ a Roth IRA. It's not tax deductible, because it is post tax contributions. But, if you ever need it, you don't have to pay a huge penalty to get it. I would stick w/ a Growth/Income type fund for the long term. If you're looking for quick returns, you can try an Agressive blended fund. On Vanguard's site they will have your 1, 5, & 10 yr average rates of return to make the best choice for you and your future
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