Penny For My Thoughts

Disclaimer: I am not a financial adviser, and nothing in this blog should be construed as investment advice. On with the post.

Once I opened my Roth IRA with ING Direct, I had to decide what funds to put in my Roth IRA-I’ve heard it explained as a Roth (or conventional IRA) is a basket, then you need to decide what finds go into it. Not to mix metaphors, but I knew I didn’t want to put all of my IRA funds in one basket.

I wanted to mix my risk, so I went with a growth fund (higher risk, higher potential rewards) in the ING Strategic Allocation Growth O fund. I also took the higher risk/higher rewards with the ING DIRECT INDEX PLUS SMALL CAP fund. Both funds have taken numerous hits as the stock market has done its thing over the past 18 months, but the long term payoff should be worth it. For a little less reward for a little less risk, I went with the ING Balanced fund . Finally, for the least reward but no risk, I put some money in the ING money market account. I aim for a 30/30/30/10 mix with my finds, with 30% in all but the money market, then 10% in the money market.