Thinking of starting investing in one...

Anything I should know?






This will prob get moved to M&I, but I wanted all of you smart people who religiously stare at ramblings so give me some opinions.

 

I do half roth and half regular. For starters, you have to consider future tax brackets as well as current desired tax benefits due to income reduction.

 

If your employer doesn't offer a matching 401K, max out a Roth. At your age, the taxes you pay now on it will be a pittance compared to what you'll pay when you draw from your 401K.

 

I work at a bar and get paid mostly in tips, I dont even think they offer anything financial aside from direct deposit.

 

Sign up for a Roth IRA at Vanguard.com.

 

you can ask.

i thought you had to be drinking age to work at a bar?

 

you don't

 

Not sure about other states, but in Texas you can be 18 to bartend.

 

There are very few rules that apply to investing, but this is one of them.

 

Just to set the record straight, you can handle, pour and serve alcohol at age 18.

But anyways... back on topic, luckily, one of my bartenders as his full-time day job works at a bank and can help me set up a Roth IRA, i'll have to talk to him about it tomorow.

 

Gnate,

Find out what fees, if any apply. Shop around.

 

^ on the fees.

 

^ I shall do that. Thanks.