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Posted in Retirement
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zeus39

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my father just past away and inheirted some money my credit cards are paid of and
know this is my chance to invest my money for when it time for reitire. like to know about roth ira if thats a good way to invest my money.what steps do i take to understand in investing my money thank you

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This is really not an investing advice site. You probably need to consult with a financial advisor.

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If you can, do ROTH

Are your debts all paid off or some are still lingering at a manageable pace? Keyword: manageable, meaning that you can still sustain a decent life while managing them. If that's the case, your inheritance is an extra chunk of fund. I would allocate them into a ROTH IRA and allocate most of them in INDEX FUNDS. 

I chose INDEX FUNDS for the sake of low maintenance fees and ROTH to be able to have the full money without paying tax by the time I retire. Whatever the investment totals up to be at the end, it is 100% in your pocket rather than taking a percentage out for tax.

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