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My first question is where do you have your $90k in savings? Depending on where it sits, you may be able to roll it into an tax-advantaged annuity. One of the carriers I work with is currently offering a bonus of 25-35% if the application needs to be signed by 3/3/23 and funded by 3/17/23. I would also advise looking at some cash value life insurance options. If you qualify, either of these give you guaranteed safe, compounded growth, and bundle together life insurance with living benefits and the ability to borrow for future needs. I would be happy to schedule a 30-minute zoom call to learn more about your goals and map out a plan to get you there.
For long term growth, low cost index funds (VOO, VTI) are a great option - and elect to reinvest your dividends so the investment can compound.
As the market has fallen in the last year it’s a good time to invest - however many economists think it will continue to drop (but who really knows), so you could elect to start investing incrementally / weekly (DCA) to limit your exposure to fluctuations. That said, with your long term strategy you both should still be fine with either approach :) Also would recommend keeping some cash in a high interest savings account as an emergency fund (either a few - 6 months of expenses)
Depending on your income, you can put these in a tax advantaged Roth IRA or use a back door Roth. But that’s a ton of money to start investing so y’all are already doing great!
You can also look at some high yield dividend stocks and reinvest dividends.
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Here’s my portfolio. AI/tech, metals, healthcare, hospitality/travel, aerospace/defense, gold mining, hydrogen power, Trying to be diversified. Use what you want.
MSFT, BA, NEM, NVDA, ABNB, RTX, AEP, IYH, TSLA, MMM, XME. Best investment: Get a long-term disability insurance policy.
F
Talk with your husband about this.
10-20 years: don’t bet on tech if it’s just 10 years. It took the tech market like 10 years to recover from the last fall. Invest in the whole US market via ETF / mutual funds and the international market via ETF / mutual funds.
S&P500 captures 80% of US which capture 50-60% of the world.
International funds will supplement with Japan/Sweden/ other awesome economies.