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I'm new to investing :
2 questions
1 - where should I invest my Deloitte 401k in ? Is the vanguard institutional 500 index trust a good place to just put my 401k and forget about it.
2 - I recently opened a fidelity account and have savings I want to invest and want to invest a small percentage every paycheck without worrying about trading it . What's the safest place to invest in and not worry about it for the next 10 years ? VOO? QQQ?
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Guys there’s this boot camp that I came across that trains people to get jobs in Top consulting firms and has a fee plan wherein you pay once you get placed. I just wanted to know if someone here has any experience with this ?
https://docs.google.com/spreadsheets/d/e/2PACX-1vQuKa3k-rG3emxJcfbidCjC0Su85E_BKqW9cTeFZMY4xg4LnUVxOLrpcETqf7d-iEePlFh6lJ1knwwD/pubhtml
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Hey friend, I'm not a partner and I'm not at MBB but I wanted to provide my input since it seems like you're looking for help.
I have a checking account with Wells Fargo.
Ha ha! Thank you mate 👍
I manage my money through student loans and credit card debt personally
I am on the same page with student loans. Cheers 🥂
This question probably do better in the partner bowl
Chief
I don’t trust banks . Cash is the king .
Your money is FDIC insured. Also cash isn’t king, it gets eaten alive by inflation. You need to invest my guy
I don’t use a dedicated wealth manager, if that’s what you’re asking. I think some do, but I don’t see enough value in it to justify management fees. So the accounts I use would be pretty accessible to you as well:
- Bank with Capital One - their rates are pretty consistently competitive if not always #1 (which rotates anyway), they do have some branches I can use on the rare occasion when I need it, and they don’t give me drama when I need to move large amounts of funds quickly
- Auto-invest with M1, where I can keep close control over the target mix but automate investing and rebalancing at very low cost
- Active trading on IBKR for when I have a strong directional view, or some single stock positions I want to manage individually rather than auto-investing
I do use a professional accountant but not a portfolio manager / financial adviser. I’ve heard their marketing pitches but they can rarely tell me anything I’m not already looking at. I might eventually consider a CFP or some other higher-fee advisor if my income sources get more complex (right now mostly W2 and 1099) and/or I start thinking about generational planning, but I’m not there yet.
Beautiful insights. Thank you P1
Not a partner yet but in HNW category. I have a trust brokerage and cash management account through fidelity. I use first republic for banking.
Absolutely helpful. Thank you 👍
I have a HYSA with AMEX. And savings/checking a with Chase
I too have a savings & checking with Chase. 👍 I have seen most using Ally for HYSA. Is it the same 3%?
I have a decent networth mainly because I manage my own money without paying someone to "diversify" my portfolio in various index funds.
This includes investment in few hedge funds, real estate,collectibles only investment grade like Physical Gold/Silver and trading my own system through Interactive brokers and keeping two accounts in wellsfargo. ( also practices minimalism for living/ spending).
Thanks for the uplifting and very useful comment Deloitte1. Keeping up with the D tradition?
Lol all the big 4 and tier 2 firm partner in abject poverty