hi, i'm planning to start investing in index funds for retirement. i have a few questions about index funds. i am already investing my 401k, this is extra investing that i want to do.
first, i am planning to invest personally, not using 401k accounts. i will probably be using vanguard to invest.
second, i am planning to invest $1,000 every month for the next 30 years.
my questions are:
- can i pull out of my investment anytime during the 25 years?
- how does tax work? do i get tax for interest earn when i start pulling out the investments or do i get tax every time i earn interest?
- does the interest that i earn throughout the years automatically gets reinvested in the index funds?
please give me any extra advice or information that i might not be considering. i am fairly new to the investing world and just started doing research a couple weeks ago. i do not plan on starting investing until i paid off all my debt in the next couple of years.
thanks <3
Submitted September 03, 2018 at 11:05AM by kangyunot https://ift.tt/2wDgtBv
