Workers under age 35 understand that they will likely be responsible for the majority of their own retirement income through savings and investments, yet only 28% of young workers are participating in employer-sponsored retirement plans when offered.

The best way for a young worker to get started with retirement savings if they don't have a 401k option through their job is to pick a brokerage like Vanguard or Fidelity and tell them you want to open their best Roth IRA account. This can easily be done online or over the phone, and you can set up automatic monthly contributions of as little as $100 through your paycheck or bank. Low cost index funds and ETFs are great choices to give you broader exposure to the market, with lower fees than traditional mutual funds.

This entry was posted on Sunday, April 17th, 2011 at 10:26 pm and is filed under IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.