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Does anyone have success using gobuyside?
Ezoo this weekend any youngins??
Happy 2017 everyone!! How's everyone feeling?
Wish i made moreeeeeee money...
How bad is this trade war going to be?
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Have an emergency fund of 3-6 months of living expenses in a HYSA. Max out your 401k, allocate $6500/year (this will increase every year) to your Roth IRA, invest all left over in a taxable brokerage account according to your risk tolerance splitting into low cost index fund tracking s&p 500 and bonds. You sound young, don’t be afraid to allocate 90-100% to s&p500. Look up boglehead or FIRE to understand more the optimal flowchart for saving/investing. Good luck!
This guy bogles
Wow , appreciate all this advice M1. Any recommendations on HYSAs ?
I like SoFi for everyday banking (hysa/checkings) and good ol’ Charlie Schwab for brokerage account. Sofi has “vaults” in their hysa which helps mentally put away money you know is designated for a specific thing (travel, e-fund, etc) which still earns their 4.6% or whatever their rate is currently.
Why would you put savings in a low % checking account?
High yield savings account is a good start.
1. Do you have an emergency fund? Atleast 6 months to a year will provide peace of mind. More is better
2. What’s your age category now? Manage your investment risk based on age
3. If you’re starting out in investing, start with low cost index ETFs. Track their performance and then explore other ETFs. Try to stay away from picking individual stocks if you’re learning the fundamentals of investing just now
4. Read up on value investing. Understand the principles and create a written framework for identifying undervalued companies that have a long term competitive advantage.
Some books to start:
The intelligent investor
The little book of value investing
One up on Wall Street
Mastering market cycles
The psychology of money
The joys of compounding
Tip: Don’t chase the ‘next new shiny companies’ that haven’t generated consistent cash flows and profit. Cashburn is real and most ‘next new shiny company’ will run out of cash and irrational exuberance ends.