We'll need more information to help you. For example, you cannot contribute to a Roth IRA unless you have earned income or compensation from working. Do you work?Hey everyone! This is my first time here so please be patient with me because I have no clue what I’m doing. I NEED HELP!!!! I am a 53 yr old widow who recently lost her husband several years ago. He always handled everything when it came to finances so I never learned anything about investing, etc., I’ve met with several financial planners but none have seemed trustworthy with what little money I have. I don’t have any retirement. Someone told me that it’s easy to open a Roth IRA with Vanguard and I could just do it myself. Well, I figured out how to open one with my $8,000 but now I have no clue how or what EFTs to buy. I truly need someone to “dumb this down” for me so to speak. I have done so much research on the internet but the more I read, the more confused I get. I don’t really have any family to help and I’m really praying that I can get some answers here??????
. I NEED HELP!!!! I am a 53 yr old widow who recently lost her husband several years ago. He always handled everything when it came to finances so I never learned anything about investing, etc., I’ve met with several financial planners but none have seemed trustworthy with what little money I have. I don’t have any retirement. Someone told me that it’s easy to open a Roth IRA with Vanguard and I could just do it myself. Well, I figured out how to open one with my $8,000 but now I have no clue how or what EFTs to buy. I truly need someone to “dumb this down” for me so to speak. I have done so much research on the internet but the more I read, the more confused I get. I don’t really have any family to help and I’m really praying that I can get some answers here??????About how much money do you have and where it is now (meaning what kind of account is it in)? Your tax bracket? Dependents? And so on. There is a lot of information needed to give you reliable suggestions.
I too suggest that you start with the link to "getting started". Don't be in a hurry. Don't panic because you don't know anything yet. We all started this knowing absolutely nothing.
Educate yourself a little here on Bogleheads' and tell us more about your situation by posting in the format we use to help people with their portfolio questions (see link at the bottom of this message). And people here will help you figure out what to do.
Welcome to the forum.
Statistics: Posted by retiredjg — Fri Dec 06, 2024 9:35 am