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Roth IRA investment with low starting contribution

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  • Avatar SaintHog10 
    Participant
    Status: Student
    Posts: 13
    Joined: 12/30/2018

    I’m currently a 4th year med student. I’ve opened a Roth IRA for my spouse and I through Vanguard. I’m planning to try and max out contributions throughout residency. Are there any specific funds that you recommend to invest in? We don’t have much to contribute for 2018 but we are putting some money in prior to the April deadline. I was thinking of the target retirement 2055 fund, any thoughts? Thanks in advance.

    #180539 Reply
    Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    I would put it in VTSAX but there is nothing wrong with TD funds.

    #180541 Reply
    Liked by SaintHog10
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3791
    Joined: 01/08/2016

    TDF is fine to start.

    #180552 Reply
    Liked by SaintHog10
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3165
    Joined: 01/14/2017

    Desired asset allocation and investments elsewhere?

    #180560 Reply
    Avatar artemis 
    Participant
    Status: Physician
    Posts: 491
    Joined: 12/02/2016

    A target date fund is fine to start with.  Later, when you’ve learned more about investing, if you wish to set up a more elaborate portfolio you can always sell the TDF shares and put the money into other funds, because there’s no tax penalty when it comes to buying or selling assets held in a retirement account.

    #180567 Reply
    Liked by SaintHog10
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1142
    Joined: 02/15/2016

    On a low amount in Roth, I’d do VTSAX as well.

    #180570 Reply
    Avatar SaintHog10 
    Participant
    Status: Student
    Posts: 13
    Joined: 12/30/2018

    Thanks everyone. I have an emergency fund set up already and I’m planning to contribute up to the company match if offered through my residency program, but wanted to go ahead and open my Roth IRA and my spouses in the meantime for 2018 contributions and so it’ll be in place for 2019. Thanks again for the advice.

    #180574 Reply
    Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    Your future self will be very happy with your resident self.

     

    I wish I could deliver a copy of the WCI book to my resident self :/

    #180575 Reply
    Liked by SaintHog10
    Avatar SaintHog10 
    Participant
    Status: Student
    Posts: 13
    Joined: 12/30/2018

    I’ve been fortunate to have a rotation with a family doc as well as a surgeon neighbor who introduced me to WCI early on. I wish there was a WCI course implemented in all medical school curriculums across the country. This forum has been great as well and I appreciate all of the help/advice from contributors such as yourself.

    #180577 Reply
    CordMcNally CordMcNally 
    Participant
    Status: Physician
    Posts: 2255
    Joined: 01/03/2017

    Can’t go wrong with VTSAX.

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #180578 Reply
    Liked by SaintHog10
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3791
    Joined: 01/08/2016

    true. vtsax is not wrong either.

    #180579 Reply
    Liked by SaintHog10

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