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Is PLTR still a good stock to buy?
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Knicks & Giants won today, what a great Sunday
Does anyone here work for Silicon Valley Bank? They recently acquired Boston Private. I’m a candidate for a job at Boston Private. Wondering if SVB is planning layoffs in the near term at BP? Also, does anyone know the anticipated benefits to be rolled out from SVB as the parent company? Specifically interested in health insurance providers. Thanks in advance for any information! Silicon Valley Bank
Cryptobros on suicide watch
I freaking love wearing khakis
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If I'm brutally honest, the only option you have left is to join hustlers University
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Well a few things here. First of all why are you renting? I wouldn't recommend buying now based on the interest rates coupled with higher housing prices, but what stopped you from buying say a year or 2 ago? Is it a VISA issue?
How are your funds invested? All in pension plans, in investments like stocks and bonds, or literally sitting in a savings account at the bank?
When is retirement? What age?
What does retirement look like? Location? Spending? Cost of living? Travel?
Your biggest issue is having that kind of capital sitting in the bank. You really need to get advice from someone winning in this market. I suggest taking the private route, lending on private mortgages up to 60% LTV max, you won't return less than 10% (even on 0-40% LTV deals), and only take 1 year terms. This allows you to only experience "risk" for 1 year and you can hit the reset button. You can allow for a real estate market drop of 40%+ in a single year without worry of losing a dime. You can even use registered funds in Canada, RRSP, RIF, TFSA, RESP etc. This allows for monthly uninterrupted compound interest. Lastly, get your interest for the year pre-paid. This takes the possibility of default out of the equation, if I lend 100K I get my return up front (only advance 90K on a 10% deal).
Honestly, it sounds like you should visit an advisor at one of the big brokerages. Or multiple - they’re all set up to provide free consults.
Sure, they’re all trying to sell you a managed account of some size, but they’re also pretty much all CFPs and can help you chart a general path and provide feedback at no commitment. Just take 2-3 recommendations home with you and compare what they all say.
A lot of us feel like we don’t need advisors because we work in finance but the finance world is huge and questions like the ones you’re asking (respectfully) signal you could benefit from it
Came here for this. No one thinks they need an advisor, but those who scream they dont need help the loudest implode their wealth up at a way higher success rate.
Chief
Go talk to an advisor. You’re not in horrible shape but need some tweaks. Also home ownership is expensive, it builds wealth but there are reasons it doesn’t make sense for some, moving often, aren’t able to afford what they need or something so don’t go hellbent in that, talk to advisor and go from there.
Investing should be your top priority and also consider buying a house.
Definitely buy real estate if you can with your visa.
I was going to suggest some real estate as well.
To set yourself up for retirement make sure you buy a house first. You don’t want to pay rent out of your retirement savings and income. Then make calculations based on your retirement savings how much you will have to live off and how much you want to have. Adjust how much you save based on that.
You get a really good rate on short term treasuries right now
Best to talk to a reputable experienced financial advisor, 400k is a decent junk of cash to just sit at the bank.
Hmm. I think you should get an advisor. That way, you'll surely know what to do next or what would be the best step.
I would look for a CFP to help you. So many unanswered questions before anyone can even consider giving you informed advice. Visa issue: where are you planning to live and retire long term? Lifestyle issue: how much do you currently spend? Job issue: what kind of retirement plans do you currently have and what is your risk tolerance? Education issue: how and what are you planning for kids’ education, and do you have any further education goals for yourselves. Insurance issue: do you have any and is it adequate? Debt issue: what do you have for debt?
There’s not a simple answer, and free advice is usually worth what you pay. Understanding your needs and life is the first step, way before you jump into financial or planning advice. Good luck!
Wow meanwhile I’m a gen z and everytime I think of rent my life flashes before my eyes😅 we won’t even have retirement by the time I’m in my 60s
This is wild to me. RENT scares you... you're Gen Z in the financial world, invest your money.