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Investing: Where Do I Start?

October 30, 2015

by Matiya Hill

Matiya-HillWelcome back Brown Girl Green Money readers! The purpose of this post is to discuss the oooh-so exciting topic of investing! I chose to discuss mutual funds, roth IRAs and traditional IRAs. Hopefully this information will be helpful to all potential investors. Honestly, I don’t have much experience in this area but I constantly research several investment strategies. Investing is something that’s highly needed in my near future, so I’m guessing it’s best to start now!

A mutual fund is a type of professionally managed investment fund that pools money together from several different investors to purchase securities. By owning a piece of that mutual fund, you hold partial ownership in all of the assets that the fund has. Mutual funds are a great means of building wealth and they make up a large amount of retirement investments. Personally, I have never invested in mutual funds but I plan to as soon as I’m completely debt free! For more information on the best mutual fund for you please visit your local financial institution or financial adviser. Next up is individual retirement arrangements, aka IRA’s.

A ROTH IRA is a retirement account where you pay taxes on money going into your account and then all future withdrawals are tax fee. A ROTH IRA (Individual Retirement Arrangement) is a retirement plan under US law that is generally not taxed, if certain conditions are met. A ROTH IRA’s main advantages are its tax structure and the flexibility that this tax structure provides. Roth IRA’s generally have competitive interest rates. Opening a ROTH IRA has been one of the best retirement planning decisions that I have made thus far. Again, for more information on the best ROTH IRA interest rates please visit your local financial institution or financial adviser. Also, I was able to find the best rate at my local credit union. Traditional IRAs can also be an awesome way to help you achieve your retirement goals. Traditional IRAs are savings accounts that allows you put aside money for retirement, while you deduct the amount you contribute from your income tax. The tax advantages on a traditional IRA mean you earn more from your money than you would from money in a regular savings account. They are particularly useful for people who don’t have retirement plans. Please remember, withdrawals are tax-free under certain conditions. For more information on the best traditional IRA for you please visit your local financial institution or financial advisor.

In conclusion, just remember a few of the benefits of investing include: money growth, securing a retirement nest egg, and diversification of your portfolio☺. Thank you for reading this post! Please tell us about the best investment strategies you have utilized. Also, if you have any other investment questions please share them with us via our Facebook page www.facebook.com/browngirlgreenmoney.

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Popular Interests In This Article: Brown Girl Green Money, Matiya Hill, ROTH IRA, Traditional IRA

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