So I finally completed my 401K rollover into an IRA. My money (just under $5,000) came to me in two checks - my contributions and my earnings. I earned a whopping $800 in 5 years, contributing 3% of my income after tax, with no employer match. I sent my checks to ING Direct, I opened a Roth IRA with them probably a year ago and never funded it, so I decided to just fund it and move on with my "retirement" savings.
Well, I was surprised when I signed onto the Sharebuilder website and discovered that yes, my funds were all rolled over, and now I'm being asked to "choose my investments"! I have no idea what I want to invest in. I barely did any research with my last 401K, because the company had a choice called "Future 2050" or something like that, where they invested you appropriately depending on your estimated retirement date.
I feel pretty lost with sooooo many choices in front of me. It almost seems like Sharebuilder just considers this an investor account and not a retirement account. I haven't done enough research to figure out what I'm going to do, but it seems like I'm going to need to learn a little bit about investing to make sure my money grows even just a little bit while I'm in school.
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