appleshit8 t1_jeg0g1d wrote on March 31, 2023 at 7:08 PM

Reply to comment by maccc095 in CD vs T-bill what’s the best move? by maccc095

I think they're meaning like a target date retirement fund. Basically vanguard or whomever you use will set up a fund that re balances itself based on when you pick a target date. The closer you are to retirement the less stocks it holds and starts switching to less risky investments automatically. You can just automatically contribute $x/week to max out your Ira and it does the rest. Typically like a .1% fee or something

NHwmnf t1_jeg630g wrote on March 31, 2023 at 7:46 PM

Well, investing in a target date fund is, in fact, a good way to be on a set it and forget it glide path and can help take the intimidation factor out of investing in the Roth IRA. I meant though, set up your Roth to automatically move money from your savings account to your mutual fund (for example, the target date retirement fund previously mentioned) every payday or month to keep that tax exempt growth going to set you up for the future.

If you can figure out what you're saving this money for, you can find a place for it and keep it going. Take a look at the subreddit's prime directive. After that, there's nothing wrong with enjoying the fruits of your labor either though.