|
IL | I’m 21, and currently farming around 500 acres. I just graduated college, and don’t currently have a job. I may, try to do some farming, and haul a little grain for this next spring and help dad get crops in.. and begin looking for a job while doing it. However, if something comes up, and I don’t end up getting an off farm job I’d like some advice on investing and my retirement. What does everyone here use to save/invest. I realize some guys don’t, and they say they’ll make better investments in their farm and land then others can do with there money.. which is fine, but I definitely want to have something else as a back up. I understand exponential growth, and the importance of beginning at a young age, ex. 21, versus “investing in my farm” and at age 30 realizing, it’s not working and then wanting to begin investing/saving. How do I go about it, do I simply reach out to a business like Edwards Jones, or do I try to find a more local business? Do I look into Roth IRA, Traditional IRA, 401k? I’m not familiar with the differences and thought I would ask some other self employed individuals how they feel about it.
*I had a college professor who wanted us to play around with stock investing, so he asked us each to download Robinhood and give it a try with at least $20. This was in ‘20.. had only I known to put more money into my Robinhood account when things really hit the fan. My 571% overall return looks great, until I look back at being a broke college kid and only putting in $200. I had fun then, but don’t expect to have the time and discipline to research and manage my own.. so this is why I’m coming to you all.
Thanks! | |
|
Investing 401/IRA help.
