Poll of the Day > I've got a year's worth of salary in the bank

(+) Yeah! (+)

And by bank I mean the stock market. Let it ride!

humblebrag. Still buy the $1.5 dozen white eggs instead of the $2 dozen brown eggs.

---

I have a lot of money rn and need to start investing it. Advise me plz

I'd recommend opening a ROTH IRA. Avoid any management fees and manage it yourself. Max it out each year (max contributions changes year-to-year, but it's been around $6000).

---

JigsawTDC posted...

I have a lot of money rn and need to start investing it. Advise me plz

roth ira, throw it in a bunch of safe shit, don't look at it till youre 65

JigsawTDC posted...

I have a lot of money rn and need to start investing it. Advise me plz

Gimme sum. Public service donation

Best advice is just get your feet wet with a stock brokerage. I use fidelity, and they have tons of tools, tooltips, and everything to help you succeed when you don't understand anything. I had a thought the other day that it's just like a really well made video game tutorial where they teach you more and more things as you play.

Easiest advice is buy ETF indexed to S&P 500. S&P 500 is an index, an aggregation of stock prices of huge companies which reflect the health of the economy/stock market. An ETF is basically a stock of many different stock, so you don't have to deal with buying a variety of stock.

Not good but fun advice, is stock is like pokemon, but with real life companies. Some pokemon you just love for some reason, or are just OP, and they're better than everyone else. If you can see a company you know well excelling 10 years from now, chances are you're probably right.

---

my wife and I's iras are through schwab. I can't say we've ever had any problems, but I don't know anything about this shit except money goes in, money stays there, money makes more money, eventually money mine again

(i second the etf thing)

JigsawTDC posted...

I have a lot of money rn and need to start investing it. Advise me plz

Max out your IRA. Make one with vanguard. Buy VTSAX. Then make a taxable brokerage. Buy VTSAX.

I'm lazy so I just opened an account with the fiduciary my parents have used for years. There's fees, but /shrug I wasn't going to be good about it on my own. The fees in that way are worth it to me. And my parents account has been performing better than others I've talked to so whatever.

I also have been throwing in some money in the Wealthfront app for funsies because I like their charts (that's actually free, but I was just like /shrug why not). There are fees there too though, but it was ranked high on lists for roboadvisors. That invests in low-cost ETFs.

Other than that I just have a traditional 401k. Plan on rolling that over to a Roth 401k once I move back to Texas (don't want to right now with being in California cause taxes). Can't start a roth ira >_>

also I bought some AMD stock and that's been doing nicely :) only stock I've actually purposefully bought like, "yeah I want dat one"

stonks

---

oh also you can invest money from your HSA as another small little retirement account with tax benefits (need a high deductible plan though)

---

eating4fun posted...

humblebrag. Still buy the $1.5 dozen white eggs instead of the $2 dozen brown eggs.

Food is a good chunk of my spending. I try to make it a habit to buy in bulk (i.e. oatmeal, bread, lunch meat, etc.) from CostCo and eat just that for breakfast/lunch at work but every now and then I lose interest or get bored and buy fast food. That $5-10 every now and then adds up rather quickly, especially if I compare the cost to what I spend when buying in bulk from CostCo.

---

https://i.imgur.com/Vlt0DOR.png

Basically just follow this.