I don't know much about retirement savings, and there is no plan through my job.
I have a few options to consider. Firstly, I could get a Roth IRA. I've been thinking about this a lot, but my concern is that this is something that I would have to manage a little, and with the stock market dipping, it seems that a lot of IRA's have lost value. People seem to not be concerned with this as it will "go back up again", but what if the stock market crashes right before you plan to retire? What is that value disappears. I'm not a fan of investing in the stock market in general because to me, it feels like gambling.
My next idea is to start a CD ladder and just start socking money away. I'd get a guaranteed rate of return and my money would be pretty safe. I don't get tax benefits, but it seems so much more stable.
I can understand how people go the 401(k) route or other such programs if a company is matching the money that will be put in there, but I don't get that luxury.
This is quite a conundrum for me and I really would like to have a plan in place for my 2009 Financial goals. So what do you think? What would you do if you were me? I welcome any and all advice!