Adventures in Investing, Part 3: Opening my First Roth IRA

You’ll probably tell me that I was living under a rock, but it took until November of my first year as a working citizen to discover the existence of the Roth IRA. Being the saver that I am, I immediately decided that I had to put money into it, so I took $5,000 out of my savings account. Since my 401(k) is at Vanguard, I chose Vanguard to open my Roth IRA. This turned out to be incredibly simple, especially since I already had a Vanguard login, and I put my $5,000 into the Target Retirement Fund 2050.

When I made this contribution, I was completely unaware of the income limits. Thankfully, that year, I didn’t come close enough to the income limits to worry about this, but where was this learning packet? Where was the guide for me, as a fresh college graduate on this information? It was around this point that I started to devour personal finance blogs. Get Rich Slowly was a wealth of information for me.

I found that many personal finance blogs were written by people who were digging themselves out of debt with low incomes. I had never had problems with debt – I was a save-aholic, through and through. I had graduated from college with a job offer for a company where I would be guaranteed to make six figures starting in my first year. Where were the blogs for savers who were trying to find their place in a consumerist world? I hope that my blog will help the niche of people in a similar situation to me as I work through this process with a plethora of Excel spreadsheets.


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