02-16-2022, 03:14 PM
Is it bad to open an IRA while the economy is bad?
<!-- SC_OFF --><div class="md"><p>I’m 22 (i know nothing about investing) and I have a lot of savings. I want to open an IRA. Should I wait until the economy turns around? I’m thinking of opening the IRA with Wealthfront so it will be automated. I currently have a Wealthfront Individual Investment Account, but it is currently losing money. That makes me think I should wait to open an IRA. Is that thinking correct?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/coasterb"> /u/coasterb </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/stkudd/is_it_bad_to_open_an_ira_while_the_economy_is_bad/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/stkudd/is_it_bad_to_open_an_ira_while_the_economy_is_bad/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I’m 22 (i know nothing about investing) and I have a lot of savings. I want to open an IRA. Should I wait until the economy turns around? I’m thinking of opening the IRA with Wealthfront so it will be automated. I currently have a Wealthfront Individual Investment Account, but it is currently losing money. That makes me think I should wait to open an IRA. Is that thinking correct?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/coasterb"> /u/coasterb </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/stkudd/is_it_bad_to_open_an_ira_while_the_economy_is_bad/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/stkudd/is_it_bad_to_open_an_ira_while_the_economy_is_bad/">[comments]</a></span>Kind Regards R