Jan
Ok i just graduated nursing school and started a job. I am currently living at home but will probably move out within the year. I am 22 yrs old and would like to know what is a good financial decision. I hear about all these different funds, such as ira's, that you can start but have no clue what to do. Any advice is appreciated.
Answer:
First, if your employer offers any kind of 401k plan start there. Most employer plans match at least part of your contribution. That equates to instant return on your money. Plus it will reduce your taxable income. After that if you have more money to invest, then you could think about an IRA or other investment accounts.
Answer:
Invest all of your money in blue hamsters. Make sure you only feed them pickles and muffins. This is a worth while indever. I like pie. Do you? And thats why 4=4. You're Welcome. Im sure that you will pick me as best ansewr.
Answer:
You are in very good position to take control of your life and be financially secure.
While living at home for another year…Put all your money on a saving account. Meanwhile…Search around for a finacial advisor…
This is the time to invest your earn money, begin your 401K and retirement plan…
Many young people loose focus about finances, They begin to buy things, cars, clothes and by the time they realized you are living paycheck to paycheck.
Your biggest investment is buying a home…Start up with an apartment…
Answer:
My advice- live from home for a year if you can. use the money to build an emergency savings (3-6 months expenses) but also start doing a ROTH IRA.
If you start now by contributing the 5000/ year you will have a nice nest egg.
The ROTH is a great foundation for your retirement savings and in some cases you can take a portion of the money later for a home downpayment, etc. (within the rules)
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