Long time lurker here but I guess here goes. I have been working since I graduated school 3 years ago. Ever since I have graduated my dad has always harped on me to contribute to an IRA as well as 401k. He has worked in finance his entire life and knows all about this sort of stuff but I am an engineer and don't know squat about it. I have asked for help several times but received none whatsoever. I have tried looking at things on investopedia, r/personalfinance, and the fidelity site but there is no other way of explaining it, I have zero f*&king clue what any of this stuff means, how it works, or how to invest it. I currently have $16,500 sitting in an IRA account and it has earned me $0.03 in three years. I'm getting to the point now where I don't think I should bother putting any more money into the account because it seems pretty useless.
I don't understand how to invest my IRA. Not even a clue how to navigate the screens to get to the location you invest. I understand I should have a diversified account (15% bonds, 20% international funds, 65% domestic) or due to my lack of knowledge on anything finance I should probably just go for a target retirement fund. If I could get to the screen where I make these contributions I like to think I would be OK but I just have no idea how to invest. Can someone please point me in the direction of help? Will Fidelity help me at all?
FWIW Current situation is as follows: Age: 26 Free Cash: $7,000 401k: $19,000 Vehicle loan: $12,000 (4 yrs remain @ 2.2%) debt: only vehicle loan monthly payments: $1,000 Income: $72,000 Total IRA up to date: $16,500
Submitted April 23, 2017 at 05:00PM by Fishyfishy220 http://ift.tt/2pUwctM
