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ga kid
ga kid asked in Business & FinanceInvesting · 4 years ago

I have a schwab contribuatory IRA- but it's not growing. Why?

I have been contributing for 7 months but the only gains it has made are the funds I haves added. I thought it was supposed to grow monthly with compounded interest? What am I missing?

4 Answers

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  • exactduke
    Lv 7
    4 years ago

    That sort of depends on what your IRA is invested in. The s&p500 is up 7.5% over the past 6 months. If you're not up at least this much, I suggest you look at what you're invested in.

  • Trivial One
    Lv 7
    4 years ago

    What do you have it invested in? My guess is your money is in a money market account, which earn nothing in interest now. You need to select an account that is invested in the stock market. Since you don't know much about investing, I suggest a low-fee, passively managed mutual fund, something like an S&P 500 index fund (or other indexed stock fund).

  • efflandt
    Lv 7
    4 years ago

    Any cash NOT invested in a fund or ETF or stock, etc. is making something like 0.01% APR which is effectively nothing (about $1 per year on each $10,000)

  • A nobody
    Lv 7
    4 years ago

    Why not ask Schwab ??

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