Hello everyone, I am helping my cousin with his retirement finances, to put it simply does anyone know of a free service like this one but for Vanguard? I am also at a loss as to whether he should be buying ETF's or a vanguard fund. I know that to answer these questions you will need some details, so those are below.
He's 25, currently only has $5000.00 mostly in a traditional IRA but also partially in a Roth IRA. He will be contributing $5,500 a year. He has a very low income right now (about 25,000 a year), so I'm advising him to contribute everything to the Roth IRA.
Questions:
Can someone explain ETF vs managed funds and which is the better option?
What would change when he starts making more money besides the fact that he may start investing in the Traditional IRA over the Roth (IE would he move from an ETF to a managed fund or vice versa for some reason)?
What would he invest his current balance in and what would he invest in when he adds money to the account?
Thanks in advance for your help!
Posted by: borderpatrol_dude@yahoo.com
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