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How do I set-up and/or invest for my future?

Asked by Steve_A (5125points) January 29th, 2010

Well recently I bought a book called “The neatest little guide to stock market investing”

I still really know nothing of it, but I decided after talking to some people I would rather buy bonds that later mature. As opposed to stocks which can be far riskier or least thats my understanding.

I plan to make this a 10–20 year long-term goal basically invest the money and do NOT touch it (unless necessary).

I spoke to my old manager and he was telling me you buy the right bonds and were to put them away and let them mature by say 20 years or so I could have a lot of money.Least that’s what his dad did, and was able to go a pay off his house at age 52.Straight out bought it, he was not paying for it I should say sorry.

And he said it only would take maybe 30–50 dollars of my paycheck every week and put it towards it.

Also what is a ROTH fire account, IRA, traditional and STP index 500?

I talked to a older couple once at work, really nice and they give me some advice but they told me a bunch of stuff most went over my head I had no clue what it was they were talking about so I tried to remember what they were talking about.

If you can give me some advice or ideals it would be great.

I plan to start immediately once I have a good set-up and talk with my bank. Not sure if it would be considered for retirement, but having a cushion or fall back would be great I think.

Thank you.

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