Roth Funds?

[FeartheDeere]

Hey guys,

My sister was talking the other day about laying away some money in a Roth fund. I believe this is a retirement fund and the amount you stick in there can grow. She said if I start early and can put a couple $K in there every year I'll have a good lump of money after I retire...do any of you guys do this? Just wondering. Thanx!

Kevro's Mean Green Cut

[cole1980]

reply

Kevro,
I would go to the bank and ask financial services about short term and long term savings. I have a mutual fund set in which I save $XXX.xx per month. This is a retirement fund. Roth is a different fund but similar. Just ask about the difference. If you dont understand ask again. You don't want to invest money in something you dont understand. If you invest 100.00 a month starting at 18 yrs old by the time you are 55 or so you could easily have a million or mil and half. Depending on our market status. The more yield or interst you make of course the better.

Thats my spill,

E.Cole

[Maddog]

reply

Cole has some good advice. Check with the bank. Some funds like IRA's and Roth IRA's have diferrent characteristics. Some of these fund you pay the tax when you pull the money at retirement and some you pay the tax up front and don't pay tax when you pull the money.

One thing I do know is that you want to be diversified in you retirement investments. Don't put all your eggs in one basket if you know what I mean.