Anonymous User
Related Posts
Bowl Leader
Community Builder
Bowl Leader
How do you earn $500k and still feel average?
More Posts
Additional Posts in Partner One
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Go 100% big in Senegalese stocks. Trust me.
I obviously meant GME when I posted this
A couple thoughts OP:
1. Your portfolio is a marathon, not a sprint. Some may beat the market in a given year, but no one is doing it consistently in consecutive years. With that being said they say the only free lunch is diversification. Consider a weighting between equities, fixed income, and cash (the younger you are the higher percentage in equities)
2. For your cash, explore online savings banks such as Amex or Marcus from GS which has a slightly higher yield
3. If you are uber concerned with inflation, consider treasury inflation protected securities (TIPS) for some of your fixed income
Not to discount your savings balance, if it were me I would focus more on how to increase your monthly contributions to your portfolio than the impact of inflation
Mentor
I can’t be bothered to come up with fancy way to “protect my money.”
If my taxes go up, I’ll pay higher taxes. So it goes.
For someone who only has 20k you are really worried.
"Protecting your money" doesn't seem like the right framing tbh
If it improves the lived experiences of people in the country, then I can have fewer Xboxes or second houses or whatever in my life
I use Amex, their rates haven't been cut as low as some others (🤞), and I've also heard good things about Marcus by Goldman.
Inflation? LOL. I’ve been waiting to see the inflation truthers
Hahaha honey, your 20k is fine regardless who’s sitting in the White House. These conversations are for the big boys, who more often than not are happy to pay the additional taxes to better the lives of those impoverished
If you think "Biden's plan" is causing your 20k to be whittled away, you might want to read up on what happens to interest rates in a down economy. And inflation is far, far, far from the biggest concerns economically
“Upper class” is multimillionaires. And they are 1-2% of the country.
And that is a very simplistic view of economy and taxation
What are you, 23?
Two words: Bitcoin now
1 word : SBA1Coin
Ey and p1 it’s not so much about taxes as much as 20k is losing value. I guess just put it in the market but in one year assets classes are all skyrocketing making it even more difficult to make that into a down payment. I’m not looking to get rich but I am not even close to a buying a condo
This always
Biden's plans will hurt every "class" and probably the "lower class" worst but beyond debating your assumption, to answer your answer your question, much of my wealth is in real estate (rentals) which is a great hedge against inflation and if done correctly, and can handle the ups and downs of the economy..
13% market growth since Biden was elected. The best performance we have seen in many years. Get that inauguration done and keep it going!
Coach
What’s the worst case for you ? You lose all 20K .
What’s 20K for you in this industry over the next 30+ years of earning ?
OP, I am fine to pay higher taxes. I do believe that our taxes have gotten wonky (lower incomes are effectively taxed more). A bit of adjustment is needed. I love my money and work hard to earn my living. But I am blessed with more that I need and don’t mind sharing a bit of what my society has helped me earn.
OP I have 500k sitting on the sidelines. Not worried.
We're consultants - we serve the upper class.
The best advice I received after college was: 1) leverage the benefit of compounding by saving a little consistently, 2) find a way to make money while you’re sleeping (e.g., invest in real estate) and 3) optimize your tax position.
I’m putting more money into a Roth IRA to pay taxes now at a lower rate than the future. And I’m continuing to invest in the market. Stocks always go up