I'm brand new to investing and have decided to use this thread for any questions that pop into my head as I learn more and more. Instead of making a new thread for every time I have a new question, I will just post them here! If you can offer your experience or perspective, I would greatly appreciate it, I READ ALL POSTS and am thankful for each one of them!
SEE LAST POST for most recent questions! :)
Overall, I'm just starting to invest money (I'm 21 currently) and will be pursuing early retirement for my long-term goal. I'm trying to figure out how to go about this but am getting confused by the plethora of information out there (I'm trying to keep thing as simple as possible)
Current status: I just set up a Vanguard Roth IRA account and have 5k to invest.
Questions:
1.) I can buy 2 audiobooks. For Book #1 what would you recommend for me to buy that could teach me everything about index investing (asset allocation between bonds and stocks, rebalancing, taxes, the best indexes to put money into etc.) No need for lectures on why index investing is better but if its a mix of this and teaching about index funds, I'm cool with that.
For Book #2 A good book about everything there is to know about renting out properties.
2.) On Roth IRA's you can only contribute so much per year to them, what if I have more money I want to use to invest? Should I make a "General Savings" account on Vanguard and put more money into indexes here but will be taxed more? (One post I saw on here, many people have tons of different account types!)
3.) If there is some sort of penalty for taking money out of your Roth IRA (before age 59.5) how does this workout if I want to retire early? Nvm forummm has a post on this
4.) There are so many index funds out there...... some have target retirement dates and automatically adjust your stock/bond allocation as you age, some don't do this and you have to do this manually. Some have different expense fees. Some invest internationally and some don't. So many different choices... but what ones would be the best for early retirement?
That's all I have for now. I'd be very thankful if anybody could offer some input on these thing!