How should I invest for retirement?

I am a 24 year old single male nurse. I have started a Roth IRA on my own and a 401k through my current employer. I also have some money in mutual funds. How should I invest for retirement? I am planning on getting at least a masters when I decide on a specialty that I would like to go into. I am also looking into joining the Air Force. Any advice is appreciated.How should I invest for retirement?
You are doing just fine.


Remember that the roth money can be used towards the purchase of your first home without having to pay that 10% penalty for removing the money before the 5 year expiration date. Few people know this.


/How should I invest for retirement?
At 24, your primary goal should be consistent investment, rather than a particular investment style. By the time you reach retirement age, you will likely need a 7-figure nestegg to retire.


Make sure you optimize your 401K contribution to maximize any employer match. I would put more in the tax-deferrerred account now to maximize the dollars working in the account.


In light of the current economic situation, you should probably focus on long-term growth. That should put you in a good position for the anticipated economic recovery over the next few years.


Don't forget to review your investment profile on a regular basis, and redirect your portfolio to adapt to changes in the economy.
Each of your investments, planned or realized, includes something of a safety net in that it secures you in various ways, all of which are important.





You've secured an education, have two retirement plans working for you, you're planning on further education and considering the military. In my mind, at least, it would be a mistake to put money into individual stocks as you really want to be focusing on these other avenues. That tells me you belong in mutual funds just as you already are. It would probably be wise to make sure you have exposure to a variety of mutual funds rather than only safer ones as you are very young.





I'd say you ought to continue doing as you've been doing---I think you're doing an excellent job of managing your affairs. Just keep saving and taking advantage of the opportunities to continue doing so.





Len
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Annuity, it seems like you have both as of now, this is a good third option if you choose to use it.


You basically put money into this,


then when you are retired every year you live


off of it.





I'm not sure why people use it but i heard of it and it is a great option as well.





Thanks

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