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littleroc02us
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Cash: $ 205.35
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Joined: 09 Feb 2009
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As for Vanguard goes you can do simplistic research to see what type of fund you'll invest in whether it be a mutual fund such as the Wellington Fund which is comprised of 66% of stocks and 34% bonds and has a return of around 9% since inception. Or you could do a Target fund where you chose the age you think you'll retire and they will take care of the investment holdings for you. As for fees here is what the costs are from their website:
https://personal.vanguard.com/us/whatweoffer/mutualfundinvesting/costs?Link=facet
As you can see it's very cheap. If your husband dies then legally you will inherit his Roth IRA's investments.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon May 16, 2011 8:51 pm |
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csmum
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With an IRA, do you have to decide right away if you want to withdraw a lump sum or a certain amount monthly after reaching a certain age? Is that even optional? What's the better choice?
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Tue May 17, 2011 1:26 pm |
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littleroc02us
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Cash: $ 205.35
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quote:
Originally posted by csmum
With an IRA, do you have to decide right away if you want to withdraw a lump sum or a certain amount monthly after reaching a certain age? Is that even optional? What's the better choice?
This is what's so great about Roth IRA's vs. Traditional. Read this:
You may sometimes hear or see the statement that Roth IRAs are not subject to Required Minimum Distributions. That is not really accurate. Roth IRAs are not subject to Required Minimum Distributions during the owner's lifetime, but are subject to Required Minimum Distributions after the death of the owner. However, Traditional IRAs are generally subject to Required Minimum Distributions beginning at age 70˝. One of the great advantages of Roth IRAs is that they are not subject to these lifetime Required Minimum Distributions rules.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Tue May 17, 2011 1:40 pm |
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csmum
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Ok, summary of what I have learned: I can invest a max. of5000/6000 in an IRA acct, then withdraw only the contributions I have made so far,
at any time, and as soon as I reach 59.5 I can also withdraw the earnings. When I reach 70, certain rules apply regarding minimum withdrawal. Is that correct?
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Tue May 17, 2011 3:28 pm |
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littleroc02us
Moderator
Cash: $ 205.35
Posts: 1015
Joined: 09 Feb 2009
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quote:
Originally posted by csmum
Ok, summary of what I have learned: I can invest a max. of5000/6000 in an IRA acct, then withdraw only the contributions I have made so far,
at any time, and as soon as I reach 59.5 I can also withdraw the earnings. When I reach 70, certain rules apply regarding minimum withdrawal. Is that correct?
You are correct on everything except the last part. With a Roth you don't have withdrawl anything ever, even if you die, then the heirs must meet certain requirements. Only with the traditional do you have to follow certain rules in your lifetime for minimum withdrawls. Just another reason Roth's IMO are better.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Tue May 17, 2011 3:36 pm |
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csmum
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Cash: $ 1.85
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Thanks so much.
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Tue May 17, 2011 3:40 pm |
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Einstien76
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Thanks again. I understand. And with the full-time job you're of course right on the money, too. I'm working on that.
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Mon May 30, 2011 12:45 pm |
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