Roth IRA's For dummies?

[ag]

For over 2 years now I have had a Roth IRA in my name. The past two years however I have had no sight of it, or anything of it coming in the mail because I would just hand it over to my father who pretty much filed it. Since I moved down here I of course had an address change. Just today I received a statement in the mail. I knew back in 2001 that my Father and other family members had paid $1000.80 fro $1000. Since then I've had no clue nor did I really care what it did until today. It said since Jan 1 2004 till March 30 it went down then went up $9.18. Now I called my old man who seems to be acting like a stubborn asswipe, to figure out what exactly this IRA is invested in, like what stock exactly. Now I'm not one who knows anything about the financial ways of this country, all I know is that interest rates blow donkey dick for investment, but loans on the other had are cheap as dirt if not cheaper. What I want to know is exactly what stocks are in this thing, and exactly how much. Now of course this being an IRA, I don't plan on touching it for at least 4 decades, but still knowing what my future money is invested in would interest me allot. As a side note to that, a dumb question. If "X" amount of dollars are invested in a certain stock, can I add more money to the IRA particularly to certain stock I want the most money in. Or Do I have no control of what stocks are picked because its a company who invests the money for you, (IE Fidelity)

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[Recyclerz]

The Motley Fool on IRA's (http://www.fool.com/money/allaboutiras/allaboutiras.htm)

The above is a pretty good site for basic, unbiased information on financial matters.

Your statement should give you the details of where your money is invested. If it doesn't, call the investment advisor listed on the front page and ask your questions. Some rules of thumb:

Don't invest in anything you don't understand; and

The younger you are, the greater exposure you should have in stocks. An index fund (eg. S&P 500) is a good way to go.



[b]There ain't no asylum here.
King Solomon he never lived 'round here.[b]

[ag]

That explains alot, but still need more info on exactly what I have. I see that I have some blue chip stocks that they invest for me. But that site is defanlty helpfull, thanks alot

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<marquee>I got the magic stick I know if I can hit once, I can hit twice I hit the baddest chicks Shorty don't believe me, then call me tonight And I'll show you magic -- WHAT! WHAT! Magic, uh-huh, uh-huh, I've got the magic stick</marquee>

[Mike Teacher]

you sick fucks invest in the Irish Republican Army?

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[ag]

Jimmy IRA?

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<marquee>I got the magic stick I know if I can hit once, I can hit twice I hit the baddest chicks Shorty don't believe me, then call me tonight And I'll show you magic -- WHAT! WHAT! Magic, uh-huh, uh-huh, I've got the magic stick</marquee>

[Mike Teacher]

Wow IRA Could be IRIS' husband. Now, all they need is someone besides R+F who can do convincing fake voices.

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