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Is it a good idea to do invest into mutual funds to build a Retirement plan?

I am 25 and at my job I'm not offered any kind of 401k plan. Is it a good idea to invest into mutual funds to build my retirement plan? As they say, start early. What are my options on this? I was refered by a friend to talk to a financial advisor, she is working p/t under primerica with three different investing companies. According to all the numbers I provided, she advises me to use Franklin Templeton Fund Allocation, I don't know much about any avaialble investing companies so I am very lost in terminology and the numbers.

Asked By: ykarnay - 9/27/2006
Best Answer - Chosen by Asker
I've been doing some research on this for a number of years, and here is what I have found . . . . Yes, mutual funds are a good idea for retirement planning. To better solidify one's retirement plan, though it is reccommeded that people make use of either a traditional or Roth IRA. (The difference between the two is... More
Answered By: naturalbornthriller69 - 9/27/2006
Additional Answers (16)
yes, you get better return for your money
Answered By: Super G - 9/27/2006
 
Yes that is the road I would take at your age.
Answered By: ladytoobusytotalk - 9/27/2006
 
yes
Answered By: megan c - 9/27/2006
 
i suggest putting in as much money as possible and hopefully your company will match that amount. So by the time you are 60 you will be rich. Good luck!
Answered By: Mom of one - 9/27/2006
 
Invest in your country, buy US savings bonds, or CD`s, the bank can help you. they are cheap now, but grow in the long term.
Answered By: jonny - 9/27/2006
 
You can start an IRA at your local bank or with Fidelity Investments. It is best to start early but you should consult an investment professional to determine the best way for you to save for retirement. Good luck!
Answered By: Lisa - 9/27/2006
 
Yuliya, ANY idea regarding how to start saving for your retirement is a good idea! At 25, you can afford more risk in your profile. Be agressive with your investments, and as you get older, you should typically be more cautious. Good luck! :)
Answered By: loving father - 9/27/2006
 
Yes, starting early is a good idea. the little you put away now will reap massive returns over the long run. You always need to consider the tax effeciveness of an investment and the risk to reward ratio. In the very long term say 20+ years look for investments that have good, low volatility returns and have... More
Answered By: mmf - 9/27/2006
 
Go for a Roth IRA or Mutual Fund first....once you are comfortable with your savings level vs. spendable income, then start buying savings bonds... More
Answered By: love2jack4you - 9/27/2006
 
The best idea even at 25 is to talk to a financial planner - and have them help you. I am 25 and never thought anything about retirement or any of that until i started working at a financial planning firm and I have already seen a benefit from my actions - and it always help to see the big picture of things.
Answered By: Tracy E - 9/27/2006
 
I am not an investment adviser but I've spent a lot of time planning my retirement... More
Answered By: mahoneycuttnc2002 - 9/27/2006
 
Yes, but start a Traditional IRA or a Roth IRA... More
Answered By: Screaming Eagle - 9/27/2006
 
try these links hope u'll find it useful http://www.lofinance.blogspot.com good luck for your investments
Answered By: Axl Rose - 9/27/2006
 
A Roth IRA is an excellent vehicle to start retirement savings. Your contributions are after tax, but the account will be taxfree going forward, including your withdrawal 40 years from now. An impressive and powerful vehicle. Maximum contribution are $3000/year. I would suggest a quality, value-oriented stock fund... More
Source(s):
Answered By: TJ - 9/27/2006
 
Your advisor is making commissions buy recommending Franklin Templeton. This is because FT is a "load fund." A load fund is a commissionable fund. You are better off investing in a no-load mutual fund instead of working through a broker. You can contact a no-load fund directly, like Vanguard, T Rowe Price, USAA... More
Answered By: misternycboy - 9/27/2006
 
Franklin Templeton group charges high fees either up front or back-loaded so forget that. You have to build equity exposure now so yes, buy funds but an advisor probably a bad idea. Go to Schwab.com & the like & see how easy it is to do. Going to start with Index funds (S&P 500, some world funds) or an ETF (trades like... More
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Answered By: vegas_iwish - 9/27/2006
 
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