Hey everyone,
I just opened a ROTH IRA and a 529 account for my 8-month-old son. My main goals are to save for his college and build up my retirement savings.
My wife is leaving her job to spend more time with our son, which means we'll be taking an income cut of about $30K per year. Even with that, I can realistically afford to contribute $100–$150 per month to my Roth IRA.
The only thing I really know about investing comes from Dave Ramsey, who recommends "good growth stock mutual funds." The problem is, I’m not entirely sure what that means or where to start.
Here’s my current situation. I'm 34 years old and aiming to retire at 65. My job offers a 401(k) with a 4% match, and I’m currently contributing 4%.
I’m not looking to get rich quick—just trying to play the long game so I can retire comfortably while also saving for my son’s education.
For those of you with experience, where would you suggest I invest my Roth IRA contributions? Any advice would be greatly appreciated