I have been learning a bit about investing in past few years. I am currently 37 with wife and two kids, 4 and 1. I don't make a lot of money but we also don't spend an excessive amount, so I am able to save around 1000 a month. I also contribute in my Roth 401(k) plan which is not matched by the employer, so only I put in the money. Besides that we have a 6-12 mos emergency fund set apart.
I am wondering if I should put in that 1000 a month into an ETF, MF or Target date fund or even individual stocks I like which is taxable or should I put in that money into a Trad IRA account and allow that to also become a retirement fund? I am having a hard time to know or determine if the 401(k) is enough or do I need to put in that extra savings too into a Trad IRA or should I keep that 1000 into a taxable joint account and invest from there? Also should I put in money on a consistent basis for my kids into their 529 accounts or I have heard that it's more important to just invest in other ways, not sure there either...though I do have a couple of thousand in their education fund which has come in form of gifts from family members.
Also, I understand the general ways on how MFs and ETFs work and have invested in some value stocks too, but nothing tot he dollar amount that will make me rich lol. So, any helpful suggestions on investment strategy would be helpful along with the taxable or non-taxable piece...
Submitted December 03, 2018 at 06:06AM by RamuKehsihbA https://ift.tt/2U9bliD
