Personal Finance on Yik Yak | Just opened a Roth IRA, any tips?

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Personal Finance 2w

Just opened a Roth IRA, any tips?

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Anonymous 2w

Have it in the S&P500 for safe and consistent growth. Make sure you max out every year (assuming you can do that comfortably of course)

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Anonymous 2w

Max it out if you can VT is my choice but also VOO or a target date fund

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Anonymous 2w

Put money in it and pick a low cost broad market index fund to put your money into

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Anonymous 1w

Make sure you make enough annually to not get a tax penalty for over contributing (even if you’re under 65, there are apparently limits to how much you can contribute without getting penalized by the irs😭)

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Anonymous

#6 1w

You can only do $7,000 annually in a Roth if you are under 50

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Anonymous

#5 1w

I invested in s&p 500

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Anonymous

#3 1w

There are also income restrictions

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Anonymous

#6 1w

Yes

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Anonymous 1w

Repeat until retirement

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