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ChromePony
08-14-2005, 04:50 PM
Like a lot of people around here Ive got several grand of poker money just sitting around that I would like to have working for me a bit. I was going to open an ING account for their 3% savings rate, but I noticed that they also have some funds available. Just wondering if anyone has any experience with these, or other low to moderate risk ones that might be easy to get my money into online and then not think about for a while.
StickyWicket
08-15-2005, 08:13 PM
Several questions:

1) do you want these investments to be liquid on demand?
2) are you setting up an IRA?
3) do you HAVE an IRA?
4) what is "several grand?"

feel free to PM me-I'd be happy to speak live.

Sticky /images/graemlins/heart.gif
Sniper
08-15-2005, 11:08 PM
There are as many mutual funds to choose from as there are stocks.

If you are looking for a fund to stick some money into and not think about for a while, your best bet is a simple low cost index fund.
ChromePony
08-16-2005, 01:37 AM
[ QUOTE ]

Several questions:

1) do you want these investments to be liquid on demand?
2) are you setting up an IRA?
3) do you HAVE an IRA?
4) what is "several grand?"

[/ QUOTE ]

Yeah, after reading around a bit Im thinking the best bet for me is the basic Vanguard S&P index that people seem to be talking about, sounds pretty low risk and should hopefully out perform the 3.15% at ING.

Im a little unsure about the whole IRA thing. Everyone seems to say that you should just max it out every year, but Im not really sure when Im going to want the money at the moment, its quite possibile it will be before retirement, since thats like 40 years down the road.

So the new question is...is it still advisable to fill up the IRA over adding to the S&P index even if I may want to cash it out in say 5-10 years?

Oh and I would like 'several grand' to be in the neighborhood of 10k in the next few months, assuming I can keep running goot /images/graemlins/smile.gif
TN_POKER_MAN
08-18-2005, 07:56 AM
[ QUOTE ]

So the new question is...is it still advisable to fill up the IRA over adding to the S&P index even if I may want to cash it out in say 5-10 years?[ QUOTE ]


That's an easy one: NO!
You'll pay a penalty if you pull money out of an IRA prior to age 59 1/2 (except for a Roth, which still requires you to leave your growth in the IRA).

If you need the money in 5-10 years, just pick a good stock mutual fund that is not in an IRA.