Welcome to the forum. ![:happy]( "smile")
About the IRA...It is not possible to just put $20k in an IRA in one year. You can only contribute $7k to an IRA this year, $8k if you are 50 or older. Next year the limit will probably be the same or maybe a little more. The limit is both traditional IRA and Roth IRA together.
About stock picking...most people here are not very involved with stock picking. I know it sounds reasonable to pick the stocks of companies you think will do well, but history has shown that people are not very good at it.
Instead, it is suggested to just buy the entire stock market. Spend some time in the Wiki - Getting Started - to see what this means. https://www.bogleheads.org/wiki/Getting_started
About the IRA...It is not possible to just put $20k in an IRA in one year. You can only contribute $7k to an IRA this year, $8k if you are 50 or older. Next year the limit will probably be the same or maybe a little more. The limit is both traditional IRA and Roth IRA together.
About stock picking...most people here are not very involved with stock picking. I know it sounds reasonable to pick the stocks of companies you think will do well, but history has shown that people are not very good at it.
Instead, it is suggested to just buy the entire stock market. Spend some time in the Wiki - Getting Started - to see what this means. https://www.bogleheads.org/wiki/Getting_started
Statistics: Posted by retiredjg — Sun Apr 28, 2024 7:30 am — Replies 10 — Views 829