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SOFI a buy right now or nah?
Rising Star
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Rising Star
I got an offer from Pwc. Sdc Bangalore. While negotiation the HR asked me about the highest offer I’m holding and then he added some more amount to that and told that’s the max he can offer. but now I wonder, he never asked me for my counter offer… thinking if I left money on the table ?
3y2m
Tech - sap security
Offered - 12 fix
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Mentor
You do not need a financial advisor. Buy the simple path to wealth; read it; open a brokerage account and invest whatever cash you have left over after setting an appropriate amount aside for an emergency fund. Just buy ETFs, no need to get fancy with individual stock picks. I like VTI and buy $3k of it every month.
Agree with EY2. Set up automated buys of VTSAX and don't even think about it.
I just use wall street bets subreddit. It’s free and they can help you turn that 80k into 80$ overnight.
Just use vanguard. Don’t over think it.
Coach
2% is high af
Thanks I kinda needed a sanity check
Put it in VTI and move on
General background — Check out “the simple path to wealth” from JL collins.
Depending on your age and risk tolerance you’ll want a certain percentage of bonds (google “bogleheads three fund portfolio” for details). But generally speaking, if you have a long horizon for needing to cash out, throw money at a total stock index fund like VTI, VTSAX, SCHB, or the like.
You can’t control market returns, but the one thing you can control is fees. Don’t weigh down your returns with broker fees. Brokers aren’t going to outsmart indexes.
I would highly recommend Vanguard unmanaged funds for insignificant fees.
The financial advisor probably saw you as a good target client given you sat on so much cash without investing it already. You don't and didn't need their advice for index fund / unmanaged fund investing.
Haven't used Wealthfront, but can vouch for Betterment and the general premise.
Coach
Take $10k and open a TreasuryDirect.gov account and buy series I-bonds. They are paying 9.62%. While inflation is high, you can’t beat this for no/low risk return with zero fees. You are limited to 10k per year per person. If you have a spouse, do not twice. The 10k principal and interest is paid upon redemption. You can hold as long as 30 years, but I would redeem when we get out of this crazy inflation environment and the
guaranteed returns on the bonds drop.
Coach
You would have to set it up under your child’s SSN and that would legally belong to the child. There is also a “gift box” option that I have not done yet. See this video. https://youtu.be/nQUfCcXRNts
Mentor
Index funds and chill. Low cost, will best most “managed funds”
You don’t need an advisor at all and would advise against it. Buy vti and maybe vxus for international and that’s it
Research about I-bonds:
https://thefinancebuff.com/how-to-buy-i-bonds.html?fbclid=IwAR2v79Nu6Oi5RyEqaO5lIFXRP3UE95goaojwkMZlprWXkdvxeUObd2Gul7U
Instead of looking for a financial "advisor" consider opening a brokeage account and buy a total index ETF (Exchange Traded Fund) like VTI, SCHB or even SPY you can even split among all three. This is an easier and a better choice than giving someone else a % of your money away every year.
You can do what I did by putting your savings into passive income, where it pays off every day
MLM 😂
I invest in FNILX with an individual brokerage account at Fidelity. Easy to open an account from their website. Zero fees.
As for how much to invest- make sure first you have 6-12 months of expenses worth saved in a cash savings account. If you are planning any big purchases like a house or car, put that money in a cash savings account too. Then, put the rest into stocks, understanding that this is money you aren’t going to touch for at least 1 year (to avoid short term capital gains taxes) and more likely up to 30 years until you retire. So put however much you feel comfortable locking away for a long time.
2% is normal for specific types of alternative investments but not required it’s all up to how you want to invest and what your goals are
If he was charging 2% against profits of his investment suggestions, would bite his hand off to get that. 2% of the total fund tho - lol.
VTI it similar - done.
If you had to use a credit card and one was $95/yr and the other was $495/yr for the exact same perks, which one would you use?
It's really hard to find a managed fund that consistently beats an index fund. So why pay more for the management fees?
Stock market is not the only way to invest and you will find a whole lot of suggestions in the bowl. Stock is high risk high reward kind of situation.
Real estate could be good if you can buy outright due to high mortgage rates. Less buyers on the market.
Crypto is a gamble. Some are saying it's a ponzi, some are saying to wait out the SEC regulations... Read on what happened to Luna.
And don't trust what a random person tells you on the internet 😂. Do your own research.
I am for sub 1 percent on all funds. If you're smart and driven enough to be an attorney, you can learn to manage your own funds in a way that will not take up more than one hour a month of your time.
I’m at about half your numbers - but I have the same challenge. No real understanding for where to get started + easily overwhelmed with decisions and options.
2% to tell you invest in some funds that probably charge 1%! I need to charge these guys more.
You need to study up on investing so they don’t take as much as they otherwise will. Index funds are a good parking spot. But check the fees! Diversify. Keep some cash. Make sure you are getting the best rate on your savings at the credit union. What does your accountant say? IRA, 401k?