I am Chinese and now 25 years old. My monthly income is still not ideal, around $1700. I am currently an Amazon product selection specialist. It feels like retirement is a long way off. I can't think of anything other than starting my own business. I spend $500 a month investing in stocks. I would like to ask if anyone can give me some advice.

like
Posting as :
works at
You are currently posting as works at

Great start, amazing mind set.

Look at this way, as far as investments go due to your income if you want to save for retirement a Roth IRAs your best option. Key takes away you can take those deposited funds taxed free after 59 1/2, ( note that age might be raise in your life time.

If you don’t want to wait so long to access your funds, go with a brokerage, due to the fact a brokerage is not taxed deferred you really want to have a buy and hold mind set, important to remember you owe taxes on any gains once you take it out and you want to
At least hold any investments for a year plus one day!

Don’t be scared of the market, you have time to ride its ups and downs, the most common way people lose money in the market is panic selling.

You can open a brokerage anywhere, Vanguard and Schwab are personal favorites.

As far as investments you have two main options, Robo investment, which the firm will do the investments for you for a usual fee of 0.30% of assets

Or simply do it yourself. Incase you’re wondering how that looks like. Here’s an example of an aggressive growth model, sticking to fundamentals.

40% VOO , 30% QQQM , 20% EEMS and 10% VEA or VXUS

The biggest challenge you doing it yourself is rebalancing which should occur at least once or twice a year.

like

Setting aside $500 to start investing is a smart move. If you prefer a hands off approach, investing in an index fund is probably your best option. As for increasing your income, since you’re an Amazon Product Selection Specialist, you already have valuable insight into which product niches are popular. You could even leverage that knowledge to start selling those products yourself.

like

Exactly

likefunny

I’m not sure what being Chinese has to do with it. Regardless, you’d want to ensure that you have sufficient cash reserves in a HYS account… plan for 6 months of expenses… then you can roll the difference into investing…

The logic behind this would be that you wouldn’t have to sell pieces of your portfolio in a down market to raise the cash you need to survive…

As far as retirement being a long way off, you’re right it’s about 40 years or so… don’t underestimate your earnings capabilities pre-maturely… you need to give it time for your experience to match up with your job prospects…

You could start a business, just know that about 90% of businesses fail in the first 5 years… plus I’d imagine you’d need start-up capital… where would you source that from? If it’s from your portfolio I wouldn’t recommend it..: what I would recommend is you sit down and figure out what your cash outlay is going to be before you see a dollar in profits:.. then establish a savings account specifically to cover these costs…

I hope this was helpful.

Cheers!

like

So just to clarify, when you say you are Chinese, do you mean that you live in China?

Right, as SCPX is off the table…

Related Posts

Hi im looking for referrals in Deloitte Canada. Can any one help, would be happy to arrange a coffee chat to walk you through my experience and resume

like

New year checklist for amex plat, CSR, Delta, and AA? :)

like

I'm in my first semester in school right now and I need money to be able to pay to continue going to school (car/phone payments, gas, classes, ect.) Does anyone have any advice ? Thank you

like

Any EY TAS folks done an international rotation? 6 months to a year or so

Can someone rank all marriot properties for me. I don't use marriot and don't know the different between a Fairfield inn, residence inn, courtyard, etc.

like

Does Uniqlo have the best budget plain t’s?

like

Is it normal for senior managers to ask you to cancel leaves or to nit apply leaves in EY GDS? My manager told in all hands meeting yesterday to not apply leaves during tear end. Won’t this become a hr issue?

like

Any CAMS certified people out there? Tips? Tricks?
Is it worth getting?

like

Anyone willing to explain the basic steps of getting a J2 as a consultant or contractor? Do I need an LLC first? Do I do paperwork then find clients or wait till I have clients first?

like

Anyone know any biotechs/Pharma (ideally oncology-focused) that are looking for a VP (or even SD for the right TC) of BD/CorpDev and allowing for remote/travel models (if not Boston-based) or at least a Boston-based hybrid model? I know someone with good biotech/Pharma BD&L experience that is looking for a new role given the current biotech layoff scene. Feel free to share any company names with open roles or DM, if preferred.

How much can I afford to spend on a nice daily car?

Single M23 with 100k in investments, 10k in saving, and making 125k base in LCOL. Living with my parents (0 expenses) ATM, but planning to move out in some months.

likehelpful

People moving from KGS to KPMG canada.. how do you do that? Joined kgs few months back in consulting.. Is this a permanent Transfer or just an onshore assignment for sometime?

like

How would ne product Mangager salary slab?
YOE: 6years

like

Hey Tampa 🐠. I’m moving down from NYC and was hoping for some recommendations on the best parts to look. Early 30s single, gay male.

like

What are some of your favorite strategies to use in VIX since it constantly decays? Bear call spread? Or is there something more profitable?

like

Hi everyone

Is it okay to try for more offers in the notice period? I am feeling like why I am doing this but at the same time want to best offers.

And also thinking how should I convey if I didn't join the company even after negotiating and asking for a counter offer based on another offer.

Please advise and suggest.

Thanks

like

Event management newbie here. What are good sources on how to create event concepts and design impactful events? TIA

like

Hi fishes, Please help me out here..Thanks in advance

Post Photo
likesmart

Additional Posts in Personal Investment Chatter

Thoughts on a HYSA vs Vanguard Money Market Fund. Most HYSA are at ~1% and Vanguard MMF is at 1.3%. Should I park my money in a MMF long term, even when banks raise their interest rates?

like

1.2M 30-yr fixed mortgage. Should I go with option 1 or option 2?

Option 1: Rate - 2.5% with $1,500 credit

Option 2: Rate - 2.375% but I pay $4,500 in points.

like

How do they verify your health status when getting life insurance online?

Post Photo
likefunny

When to sell at a loss?

I’m 26 and have a fair chunk of my NW tied to Cloudflare - a tech stock that I believe has the opportunity to 3x and become a $100b+ company over the long term. Similarly, I have a lot in cloud computing etf - WCLD.

Given short term rotation out of growth stocks, I’m confused on what to do. I think we still have some time before growth stocks bottom out, but do I sell?

I would consider myself a “long only” investor, but am unsure what to do given my lack of diversif

like

What are things to know about buying and operating a laundromat?

likefunny

Thoughts on Jumia stock?

like

For those watching their home value - which is best? Zillow or Redfin? I’m watching mine to see what equity I have to refi and potentially get PMI removed. Zillow is current showing home value at about 20K less than Redfin. Are there any other tools I could be using? Thanks.

like

Wohooo if you kept it for 3 more days you could have made 35k !!!! Wohooo !!!

Post Photo
likefunny

If I have a six year old and 150k in a 529, can I say I’m done?

like

Hit the $100k net worth milestone today! Super pumped and thanks to everyone in the bowl for all the insight.

Male - age 24.

like

How are you all determining the future cost of college and target levels of investment for 529 accounts? Having a hard time seeing how 100k for college in 15 years is realistic. Also don't know the right level of savings to target (50%? More?).

like

I’m not certain about who will win the election, but unless it’s a landslide, I am concerned that it could take weeks and/or months to determine an outcome. In your opinions, is this a legitimate concern and if so, what would the impact be on the markets?

like

I’m 32. I have $80k saved. $40k currently invested. Then ~$50-60k in 401k. My plan was to save for a house, but prices have skyrocketed. As life returns to normal...I need to now move out from my parents’ again. Do I bite the bullet and rent in NYC, or stay and save another 12-18 months and hope to buy something? Full transparency: taxes make it very difficult to buy. It’s not the down payment, it’s the taxes.

like

Thoughts on investing in VNQ if you plan to buy real estate in the future?

like

Anyone buck the traditional advice to Max out 401k? I've been making out but see little value in it for me. Who knows what my health will be like when I'm 65

like

Is it financially irresponsible to buy a home that requires you to divert what you’re currently saving / investing monthly to pay the mortgage?

like

I don't have car experience but I'm going to buy my first car (used 2018). I don't have a mechanic to help test the car. Is it safe enough if I buy from a dealer with points inspection + low milage (< 30k km)+ clean carfax + contactless delivery? I have funds available to pay in full.

like

I had a baby almost a year ago. I should start a 529 account for my child but I am originally from France which also makes her a French citizen and she could easily go to college in France for not much money. It’s pretty much free there, I have 0 Student loan debt. With that in mind, a 529 would not be super helpful if we go that route. Should I consider other options? Do you have suggestions? Thanks so much!

like

How do I legally gets my hands on $100k that my future wife wishes to hand me over for investment purposes (she is outside the US). We won’t be marrying for another two years. Thank you!!

likefunny

31, $155 base, expenses 2300mo, 30k investment, only debt is 500k house. Is it too late? How far behind am I? If I throw all of my cash moving forward at investments and mortgage can I recover?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal