Now I know I could go to a bank/brokerage, but I really wanted it explained to me by NORMAL everyday people, also I didn't want someone pushing me to do something either. For the love of God can someone please explain to me what a Roth IRA is? My hubby and I are 25, he has a terminal kidney disease therefore life insurance is NOT an option for him. I do carry life insurance. I want some sort of "cushion" that will make the most of my money, without getting penalized, God forbid something happened to him. From what I have read about IRA's is if we divorce or someone becomes disabled or dies we can get to the money before 59 1/2 years of age. Am I correct? If anyone can shed some light on this subject, or offer opinions on other retirement investments please do. I am mostly looking for something I can contribute to over time. My work does not have any 401 K benefits.
Kellie, his site does as good of job explaining and comparing a Roth to a traditional IRA as any I've found. www.principal.com/retirement/ind/ira_roth.htm I'm sure you've given this some though but, I'd strongly urge you to find a job that has both a retirement plan and, offers health insurance for you and your children. A young family with one spouse seriously ill is very vunerable.
keepmine- Thank you for the link! My children do have health insurance.The only reason why we stay here is the schedules couldn't be more perfect (we don't have to put the kids in daycare), I work 2 days a week, hubby works 3 days a week. I am just curious about IRA's cause it seems no matter what stock I buy it fails....
Kellie, Have you looked at no load index funds? I feel they're a perfect match for any sort of retirement account.
