View Full Version : Need to invest... in something....

03-31-2005, 01:01 PM
Ok here's the deal, in a couple of weeks I should be getting a decent chunk of change. Now I kinda just want to start up a small "savings" type investment.

A friend of mine recommends a SNP 500 IRA. She said basically that I can throw 1200 a year in it tax free, and it's pretty much sure to accrue interest.

Anyone recommend anything else? I'm talking something where the most I'll throw into it a year is max 2000. If there are other options that involve more money it's possible.

The big problem is that it has to be something that I can deposit into erratically, as my "job" involves random payments and nothing steady.

I know almost nothing about stocks/investments, is the IRA thing the best/ easiest route? Thanks guys.

Any info or book recommendations are welcome.

03-31-2005, 09:21 PM
Open a Vanguard Roth IRA and buy an index fund periodically, like a Target Retirement Fund (a fund with different Vanguard Index funds) or Total Market Index or S&P 500 Index.

The max per year is $4,000 if you are under 55.

You need $1,000 in most funds for an IRA to start, and you can contribute a minimum of $100 per transaction after that.

James Boston
03-31-2005, 09:59 PM
The max per year is $4,000 if you are under 55.

[/ QUOTE ]

Not to split hairs, but if you encounter this money before April 15th and decide to credit the IRA to the 2004 tax year (which you can), $3000 is the limit. Just a clarification for the original poster.