Quote:
Originally posted by Lwang9276
lol nice idea gar but I am looking for something longterm, like NoSoup said.
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If you have any income for this year exeeding $1000.00, I would recomend openeing a Roth IRA. The sooner you start the sooner you will be able to quit. One of my favorite funds is Calamos Growth and income fund
http://quote.bloomberg.com/apps/quote?ticker=CVTCX:US
I don't know your age but if you look at the ten year number on this fund it is upwards of 10%. In simple terms your money will double every 7 years at that rate. Plus it's not the most aggressive fund in the world, but it's a great place to start.
Then just add to it when you can. I would recomend that once you exceed $5000.00 you start to spread the money over more than one fund. This helps to take advantage of whatever is hot in any given year.
There are tons of reasons to consider a Roth, but it has been gone over many times here. So if you have any questions PM me.
One last thing, you said long term, so don't even consider a money market fund. They don't keep pace with inflation, and if your money would buy a certain amount of goods today, you certainly want it to at least be able to buy those same goods in the future.