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I'm 18 and wanting to learn a lot about saving for retirement


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After a lot of research, I've chosen to invest in Charles and begin a Roth IRA. I've chosen my four investments and put money into them. My question is should I put the full contribution amount into the account at the beginning of the year every year? Also if any of you has important advice about Roth IRAs then please share.


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I responded to your second posted questions first.

Bravo! We see very few people in your age bracket thinking about and planning for their retirement. Your biggest questions/issues have already been addressed - you opened a Roth IRA and you have (or plan to) contribute a substantial amount, possibly the maximum, and you are investing, not simply saving. As an 18-year-old you may not have a relationship (or even know) an accountant or investment adviser - if you do, or have access to one through a trusted family member or friend, I would have them review your plans/intentions to either affirm you are on the right track or give you some advice. Even paying $150 or $200 give or take for an hour or two of someone's professional time and guidance could prove valuable to your education. And keep reading and doing your research - maybe some day soon you'll be giving the answers in this forum in addition to asking questions, because the questions never stop (even after 36 years).


Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services


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Many suggest "dollar cost averaging" your contributions.  This means putting 1/12th (or something like that) each month.  This minimizes the risk that you put the entire year's contribution in the account at the highest point in the stock market that year.

If you ever work for an employer who has a qualified plan (401(k) or 403(b)) and it has an employer matching contribution, contribute to that plan with a contribution sufficiently high enough to get all the matching available.

Good luck!  

Patricia Neal Jensen

Vice President and Nonprofit Practice Leader

| QBI, an Ascensus company

21031 Ventura Blvd., 12th Floor

Woodland Hills, CA 91364

E patricia.jensen@QBILLC.com

P 818-449-6096

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