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Vanguard accounts - feedback please
Hello all,
I've been lurking here for quite a while and I appreciate the generally solid advice and debates. I was hoping to get some feedback regarding my specific financial situation, as I was thinking of opening one or two accounts at Vanguard.
Background:
-25-30 year old age bracket
-Liquid emergency fund already in place
-No educational debt; credit cards paid in full each month; I own my used car
-No plans to buy property in the near future
My company does not offer a 401k. I have approximately $10K that I would like to put towards establishing a long term/retirement fund. Based on my cursory research, I was thinking about opening a Roth IRA (prior to the April 2013 expiration for 2012) and a Target 2050 Fund.
I am conservative with my money, and have no experience outside of CDs and savings accounts -- "set it and forget it" is the most appealing method to me, at least for now. I don't anticipate being able to max out my IRA contributions each year, but obviously I would try to put in as much as possible. That being said, does it even make sense to open both a Roth IRA and a Target 2050 Fund? I can currently stand to invest the $5K outside of the Roth IRA, but risking/losing most or all of my principal would make me very unhappy (which is why I haven't explored the stock market on my own).
Any feedback or suggestions would be greatly appreciated. Thanks.
I've been lurking here for quite a while and I appreciate the generally solid advice and debates. I was hoping to get some feedback regarding my specific financial situation, as I was thinking of opening one or two accounts at Vanguard.
Background:
-25-30 year old age bracket
-Liquid emergency fund already in place
-No educational debt; credit cards paid in full each month; I own my used car
-No plans to buy property in the near future
My company does not offer a 401k. I have approximately $10K that I would like to put towards establishing a long term/retirement fund. Based on my cursory research, I was thinking about opening a Roth IRA (prior to the April 2013 expiration for 2012) and a Target 2050 Fund.
I am conservative with my money, and have no experience outside of CDs and savings accounts -- "set it and forget it" is the most appealing method to me, at least for now. I don't anticipate being able to max out my IRA contributions each year, but obviously I would try to put in as much as possible. That being said, does it even make sense to open both a Roth IRA and a Target 2050 Fund? I can currently stand to invest the $5K outside of the Roth IRA, but risking/losing most or all of my principal would make me very unhappy (which is why I haven't explored the stock market on my own).
Any feedback or suggestions would be greatly appreciated. Thanks.
