Okay, I'm just sleepy now. Since I have an IRA with them, I can only deposit ~$3K/year as that's the limit for IRAs. If you withdraw too soon, you get hit with a fine. I opened it w/ ~$800 a while ago. From what I remember the money is tax free and tax deductable too that you put into your IRA.

Other Investment Firms I'd look into would be from... Schwab, Oppenheimer, Lynch, Waterhouse, etc. Just find out which is best for you.

I don't think it's all about how much you get in the accounts initially, just as long as it's regular deposits. Hell $20/week adds up over a year (it's like $1000) If you're in your early 20s now like a lot of us are on this board, you will be well off by starting to invest now. If I remember right, funds taken directly from your paycheck aren't taxed either as they're taken from the gross amount.

Hope that helps some...

 

A couple of years ago when it "wasn't doing to hot" I was buying more shares for alot less money. When you are buying shares you want to buy low, then you want it to go up after you stop investing and get ready to collect. Of course that is best case and real world will go up slowly over a long time period. I like the Americas Funds but there are several different ones, so it depends on which investment you choose. Do your own DD on any investment.

 

Hit Man .. I believe you are looking for the term 'tax deffered'. That means that you can report it on your tax forms as invested income and you don't have to pay taxes on it. When you begin to draw out of your retirement fund (at age 59 and 1/2 currently) you will have to pay taxes on it then. It's nice in a way but bad in another. If it's tax deffered you don't have to pay taxes until then, which menas there is more there, but there is also more there when you have to begin to pay taxes on it. You can also take out loans against your 401k (not the same as an IRA I don't think). If you pay taxes on it before hand, like investing directly into a fund or something, then you are already a step ahead on the tax game and will only have to pay yearly taxes on what the fund has earned. You can deduct loses on your tax returns too, so if you loose anything, you don't have to pay taxes on that either.

 

Yes, that's right. I'm not too hip with all the tax lingo right now. lol

IRS + Hit Man =

 

I buy High and sell Low...but I make it up in volume!

 

Why do you say that?

 

Phew ... and I thought I was the only one. Oh well .. I feel better about it now.

IRS

Me ---> <---- IRS

IRS ----> <----- Me

In reality:

Me -----> <---- IRS

 

Flyer... you got it correct. I have some ******* using my SSN so I pay and pay and pay...

 

Does this ******* have red hair ?

 

I work for Merrill Lynch and we Deal American Funds everyday. I just work with Annuities, but about half of them are invested in American Funds. Just sit down with a Financial Advisor and they could lead you in the right path.