Roth-IRA

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A sweep account and an IRA

Feb 22, 2012
I am 24 years old and starting to get a handle on my financial situation. I have started an emergency savings account and am ready to open a Roth IRA with $2,500. I started an application for an account, but it asked for my choice of a sweep fund. Nothing I've read has mentioned this and my Internet research has come up with limited and confusing information. What is a sweep fund and how do I choose one? Julia, Boise, ID
Posted In: sweep account, Savings, Roth-IRA, Roth, money market mutual fund

The allure of homeownership

Feb 13, 2012
My husband and I are both church pastors. We have been married for a year and half and we both work full time. Our gross income is about $84,000 and we tithe 10 percent to our churches and charities, which we will continue to do. We are trying to decide whether or not to purchase a home, and whether we are saving money in the proper places.... Is this a good time to buy a home? What if we needed to sell it in four years? Should we be putting less money into savings and more into the Roth IRA's? Thank you for your help! Emma, Beverly Hills, MI
Posted In: home, mortgage, Savings, retirement savings, Roth-IRA

Got the Roth IRA: Now what?

Dec 30, 2011
I'm 25. After listening to your show, I decided, Hey, I ought to start saving for retirement, so I opened a Roth IRA. Now my question is: Is that it? Do I just put money in there and it grows? Or is this the type of thing where, once it's created, I then have to allocate the money in there to various investments? If it's the latter, what the HECK should I direct my first investments toward? Love the show, cheers! Sam, Concord, NH
Posted In: Roth-IRA, IRA, retirement savings, Books

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