Author Topic: Question About Investing  (Read 535 times)

MrNoStache

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Question About Investing
« on: August 25, 2017, 09:38:55 AM »
So I'm about 23 and because of my expenses, I have about 700 dollars extra a month. I don't really need it so I plan on investing it. My question is, if I plan on investing and then drawing from the dividends as I get older, would I be putting this into just a basic vanguard account or would I be putting it into some type of 401k IRA? I have a basic Vanguard account where I buy the mutual funds but whats the implications of the taxes with both?

MDM

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Re: Question About Investing
« Reply #1 on: August 25, 2017, 09:56:37 AM »
A couple of things to help you get started:



and

Investment Order.

If those prompt more questions than answers, ask away.  Good for you for starting early!

SeattleCPA

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Re: Question About Investing
« Reply #2 on: August 25, 2017, 12:32:04 PM »
You probably haven't really provided enough info for people to give you very specific, actionable ideas.

But probably you want to use tax-deferred "containers" for your investments... so IRAs and 401(k)s. Maybe (maybe) Roths

P.S. You might find the free download ebook referenced in my sig below useful. Very quick read...
My blog Evergreen Small Business
My free downloadable ebook: Thirteen Word Retirement Plan

MrNoStache

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Re: Question About Investing
« Reply #3 on: August 25, 2017, 07:13:51 PM »
I apologize if I didn't articulate correctly. Say I want to purchase a stock or something like KO or what have you. I know every three months you get dividends. Would it be best that as I'm accumulating stocks and such that I buy it through the tax sheltered IRA? What do I do when I'm ready to start living of the dividends? Do I just switch my IRA over to a regular account or can I still get the dividends from my IRA to my regular bank account without having to change it from my IRA?

Also thank you for the book recommendation. I'm getting ready to start reading it now.

anxiousclothing

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Re: Question About Investing
« Reply #4 on: August 25, 2017, 08:41:28 PM »
You probably haven't really provided enough info for people to give you very specific, actionable ideas.

But probably you want to use tax-deferred "containers" for your investments... so IRAs and 401(k)s. Maybe (maybe) Roths

P.S. You might find the free download ebook referenced in my sig below useful. Very quick read...

Any chance you can post it? I don't see signatures on my phone. Thank you in advance.

MDM

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Re: Question About Investing
« Reply #5 on: August 25, 2017, 11:21:56 PM »
Would it be best that as I'm accumulating stocks and such that I buy it through the tax sheltered IRA?
What do you think about the suggestions in Investment Order?