Vattené wrote:Start saving yesterday is the best advice. Whatever you ultimately do, you'll be glad you started young.
I'm in the same boat myself. I do have some money in mutual funds, but I also started saving a percentage of my income about a year ago. I haven't actually started anything designated for retirement yet. I set up an appointment with my guy to force myself to actually address it.
If you don't mind me asking, who is " your guy"
Thats what would help me out. I have no idea where to go to and have no guidance with this.
I don't even know if this is to personal of a question so if it is i understand if you don't respond.
Not at all, but it wouldn't do you much good personally. It's just a certified financial planner from a small, community bank. I don't have any accounts with this bank either, I just went to him when I was 18 to help me do something with money I'd saved while working. Definitely didn't mean I have "a guy" in the sense that I have a lot of money that needs managed, just that I needed help with the best strategy and approach in investing it.
You might ask to talk to a financial adviser at a bank you use (most have investing/wealth management departments), or just sit down with someone at a place like an Edward Jones. Talking to a few different people couldn't hurt, and might put you more at ease. I also think keeping costs low is important, and have thought about investing in index funds with what I've recently saved even. That is one thing to keep in mind if you do talk to a professional: they do make money off of you. Any mutual fund you invest in that is actively managed makes money off of fees, and historically (after accounting for fees) actively managed funds don't perform much better - if any better - than index funds. However, if you just feel like you have no clue what you're doing and don't know where to start I think a professional could help you with basic information and determining the approach you want to take in investing.