I wanted to open up a Roth IRA but I’m scared WSBs will end up crashing the market and the market is at all time highs. I know it’s damn near impossible to time the market but I really have a feeling it’s going to crash.
You can contribute to a 2020 IRA until April 15 if you’re nervous about short-term volatility.
If you’re feeling worried you can just hold on to the cash.
Time in the market beats timing the market. Even if you invested all your money the day before the crash in 2008 you’d still be in a good place right now. With a long enough time horizon this stuff doesn’t matter. If you want to wait like a week or something and then put your money in sure, but my recommendation is just do it now and don’t sweat it. The GME stuff could collapse tomorrow and the market rebounds in a big way. You never know.
I doubt it’s going to crash. I mean look at the market last year. The FED was literally buying ETFs. And stocks rebounded in the third and fourth quarter. Don’t listen to those people that are driving the narrative that GME cause a domino affect in the market. We aren’t seeing signs liquidity issues in the general market. Because you can getting compound interest on your investment, you want to start contributing to a retirement account as early as possible.
No, put as much into your IRA as you can. It compounds. If you’re worried, your IRA provider should have a fund with a retirement age target that should mitigate some risk.
