What to do with savings after you have enough for an emergency?

[quote name='mtxbass1']A few things.[/QUOTE]

Does your employer offer a retirement option?
Yes they match up to 5% for 401(k) so I max that out.

Have you maxed out your Roth IRA for this year?
I'm not quite sure how to go about starting an IRA. Do I do it through an investment firm like Fidelity or Vanguard? If so, by maxing it out do you mean just put in an amount I am comfortable with that is just sitting in my savings?

How active do you want to be managing your investments?
Honestly I would like to leave it up to the pros to pick whatever they feel is a smart investment. I'd rather net a 5 to 10% return with someone managing my funds rather than me getting 20% through blind luck or losing 20%.

Do you know what an expense ratio is?
No idea.
 
As someone that has never had enough money for comfort and that finds this thread interesting; I was curious to what you guys meant by "CDs" as I am pretty sure you are not referring to compact discs :whistle2:s
 
[quote name='Canadian_Man']As someone that has never had enough money for comfort and that finds this thread interesting; I was curious to what you guys meant by "CDs" as I am pretty sure you are not referring to compact discs :whistle2:s[/QUOTE]

Call a bank. But in a very simple summary, its an investment account, with certain windows where the money can be withdrawn(without penalty), and its at a higher interest than savings.
 
[quote name='Kendro']

Have you maxed out your Roth IRA for this year?
I'm not quite sure how to go about starting an IRA. Do I do it through an investment firm like Fidelity or Vanguard? If so, by maxing it out do you mean just put in an amount I am comfortable with that is just sitting in my savings?

How active do you want to be managing your investments?
Honestly I would like to leave it up to the pros to pick whatever they feel is a smart investment. I'd rather net a 5 to 10% return with someone managing my funds rather than me getting 20% through blind luck or losing 20%.

Do you know what an expense ratio is?
No idea.[/QUOTE]

Yes, go to fidelity or vanguard. I use both personally. By max out, I mean contribute the maximum amount per year ($5000).

You should look at Vangaurd or fidelities Target funds. Pick your retirement date and buy shares. It's dead simple.


[quote name='6er']Call a bank. But in a very simple summary, its an investment account, with certain windows where the money can be withdrawn(without penalty), and its at a higher interest than savings.[/QUOTE]
Huge ymmv. Local CD rates are shit right now. I've been getting more at ING for years now with no restrictions.
 
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