Hello r/personalfinance , long time lurker, first time poster. 21m from Poland, starting a career and want to save a bag of nickels for early retirement/financial independence. I've been lurking FIRE-oriented subreddits as well, but I feel the advice I need belongs here.
Over the next few days I will be looking for an IRA(it's IKE in Polish, it translates the same though). My concept about it is:
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long-term - not huge, monthly payments over the course of 25-30 years
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not the only one - I am planning to open second one(if it is allowed, I'm fresh to the topic) and max out both, as well as open IKZE(it is more restrictive and the annual limit is smaller, but it is free from 19% interest tax)
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I WON'T be claiming the money before I absolutely have to - that being said, I don't mind a bit of ups and downs throughout the years as long as IRA is profitable in the long term. I once heard a quote regarding investing that "you only die in the rollercoaster if you jump out in the middle."
What information should I look up before choosing the proper IRA for me?
Other information that may be useful:
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I have established a 3m emergency fund. I will toss it on bank accounts with high interest rate - I'm doing it on Tuesday towards an account with 3.5% annual interest rate over the first 6 months, and keeping the trend like this.
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The aforementioned leaves ~150$(600PLN, for comparison my annual limit for IRA I checked is 12000PLN-3000$) for further savings. I don't earn much monthly in my job - current SR varies from 40-60%.
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Got no debts to pay
Submitted January 05, 2017 at 05:18AM by jezusiebrodaty http://ift.tt/2ie9Tb6
