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
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
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
Answered By: vegas_iwish - 9/27/2006
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
$21/hr Start, Avg Pay $72K/yr No Experience Needed! Get Started.
Click. Search. Apply. Free!
Other Career Questions
Do most mechanical engineering jobs offer job security?
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.