Thread: SteelSaving's Account Talk

My daughter has a Roth 401K from her employer - now that's way cool. Only thing is this MBA girl doesn't know what she owns and has to ask Dad.

Originally Posted by SteelSaving

Well, today was a little less volatile, like to think of it as a good sign (or the calm before the storm).


Anywho, I remember seeing a link someone put up that had a bunch of companies you can start an IRA with but, like a dummy, forgot to bookmark it.
Would any of you more savvy investors be kind and provide some advice or places to go hunt more info down?
I should be getting a substantial raise in early October and would like to open a roth but want to go into it with some semblance of a plan.

I was looking for that link myself. I just opened up a Roth IRA through USAA. The way it works is that the money you use to fund your IRA goes into a USAA money market account. You can add funds to it to your heart's content until you are good and ready to purchase stocks. I personally would not wait until you have a plan to fund the account....Accumulate buying power while you wait.

Is USAA military related? My dad was in the Army but retired over 10 years ago. And I have started saving already, but I am trying to get that 6 month's worth of pay that just about everybody says you should have in a liquid account.

Originally Posted by SteelSaving

Is USAA military related? .

United Services Automobile Association (USAA) is a Fortune 500^[2] financial services company offering banking, investing, and insurance to people and families that serve, or served, in the United States military. http://en.wikipedia.org/wiki/USAA

Originally Posted by JTH

You're allocation is actually

7.25G
5.25F
43C
24.25S
20.25I

https://www.tsp.gov/PDF/formspubs/LFund.pdf

My math is off...How did you come up with these numbers?

SteelSavings - Happy Birthday, to you when it gets here!! I hope it will be a great one for your market choices...

You might like to update your Profile so that you are on the calendar - - We would be glad to remind you before you noticed it yourself this afternoon !!

Well thanks Gma!
Luckily it is also my dad's birthday so it's hard to forget.

I did have a question for the board, though.
In regard to <1% transfers:

Let's say I have 5% in a fund and I decide to perform a <1% transfer back to 5% one day no matter what happens.

If the fund drops, then I am buying back funds at a "discounted" price, correct?

If the fund rises, then I am selling off some gains from that day, correct?

I will leave the pros and cons to each scenario to my own noggin, but am I missing anything there?

Originally Posted by SteelSaving

Well thanks Gma!
Luckily it is also my dad's birthday so it's hard to forget.

I did have a question for the board, though.
In regard to <1% transfers:

Let's say I have 5% in a fund and I decide to perform a <1% transfer back to 5% one day no matter what happens.

If the fund drops, then I am buying back funds at a "discounted" price, correct?

If the fund rises, then I am selling off some gains from that day, correct?

I will leave the pros and cons to each scenario to my own noggin, but am I missing anything there?

You are correct. Also it is important to remember that a <1% move is considered an IFT. So the only time you would really want to use this option is after you have used your 2 IFT's for the month.

Definitely noted that one!

I honestly thought yesterday's losses factored in Obama's speech.
Never underestimate his ability to make things suck worse I guess.

Lesson learned.

Originally Posted by SteelSaving

I honestly thought yesterday's losses factored in Obama's speech.
Never underestimate his ability to make things suck worse I guess.

Lesson learned.

History proves you right my friend!