Ask Paula - Should I Invest $5,500 in One Huge Chunk? - and More Investing Questions

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.7 • 3.6K Ratings

🗓️ 3 October 2016

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#45: Podcast listener Eva is interested in opening a Vanguard account. She noticed that people need $50,000 to access their personal advisor services. It’ll take her several years before she can access this. What should she do in the meantime? Amy, another podcast listener, wants to invest $5,500 into her Roth IRA in 2017. Should she invest the full amount on January 1, or should she spread this throughout the year? ...and more can be found at https://affordanything.com/45-ask-paula-invest-5500-one-huge-chunk-investing-questions/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything, and that's true not just for your money, but
0:07.6	also your time, energy, focus, attention, any limited resource in your life.
0:13.8	What do you want in life?
0:15.9	And how are you going to use those limited resources in order to get there?
0:20.8	My name is Paula Pan, host of the Afford Anything Podcast, the show dedicated to answering
0:26.7	those questions.
0:29.2	Today is the first Monday of the month, which means it's time for our monthly Ask Paula
0:34.1	episode.
0:35.2	When I answer questions submitted by you, the listeners, today's first question comes
0:40.0	from Eva.
0:41.0	Hi Paula, I'm interested in opening a Vanguard account and I've heard you and Jay money
0:47.8	talk about that before.
0:50.0	After doing some research on their website, I read that in order to access their personal
0:54.6	advisor services that you would need at least $50,000.
0:59.2	And since I'm just starting out, my plan is to open a Roth IRA and contribute the maximum
1:05.1	amount.
1:06.1	But I was just wondering if you had any advice on how I should go about that or any advice
1:11.4	on how I should proceed until I am able to get to that point.
1:15.7	Thank you.
1:16.7	Eva, the question that I would ask you is, why are you interested in getting a personal
1:22.7	advisor?
1:25.1	Specifically, what do you hope to achieve by having a personal advisor?
	...

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