Related Posts
Hope everyone back home is safe and healthy!
Additional Posts in Consulting
Joining Deloitte or PWC as Manager. Pros / Cons?
Book recommendations for new executives?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
If you don't know much about investing, your best bet is probably low cost index funds. You won't get rich overnight, but you will sleep better. Whatever you do, avoid financial advisers. High fees and they often put you in high cost funds that earn commissions for themselves.
Wealthfront (https://wlth.fr/1OnY0hH) or betterment both are set it and forget it (which is perfect for you). Low management fees (0.25%) and auto rebalancing plus tax loss harvesting. Basically answer some questions about your risk appetite and they will suggest a set of funds types to invest in. (That link helps me out but no pressure to use it 😜)
Agree with vanguard index funds
Also, re: D2's comment about free trades... don't confuse trading with investing.
Yeah dont forget independance for all of those options OP - Betterment and Wealthfront have a wide range of automatic investment options, a chunk of which are independance violations. Unfortunately a no no for me. Not sure what Deloitte audits but worth checking out just to be sure you dont audit Vanguard (which you might since we dont)
Bogleheads
Betterment
Yep, look up lazy portfolio drop three etfs in there.
I'd say it's most important to make a plan and then pick your broker. Vanguard is cheap and you can trade their ETFs for free, but if you want to buy individual stocks they can get pricey. Schwab also has some free ETFs with low fees and they also have lower trade fees for individual stocks.
Before u decide which platform or what to invest in, read some blogs and books. There are plenty of personal finance blogs out there. I personally read 'afford anything' and 'mr money mustache'
By reading blogs/books, I would first decide what type of investor you are (risk averse, risky, short term investor, etc) and then identify how much time u want to spend on investing. There are many investment opportunities for a buy and hold strategy - like vanguard funds that don't involve any work after you buy.
TD Ameritrade. They have good customer service and is the recommended broker for Deloitte. Then put your money in commission free ETFs and watch it grows
Because Indian inflation is higher, the 8% you see is for investing in Indian currency. However if you invest in US $ in the same bank, they will have a separate interests close to 1%
...
Thanks M. Want to take it up slow and easy. Not looking for risky get-rich-overnight schemes. Any good tools to use?
Once you have selected the funds or ETFs you want to use there is a site called FeeX that analyzes the fees you are (or would be) paying. Other than that you can look up sample portfolio allocations just about anywhere to determine how much stock/bond you want to hold and how much international exposure you may want.
Checkout robinhood, u can trade there with no fees
Robinhood is underwhelming. Interface is crappy and it basically encourages you to get into trading on margin and investing based on volatility instead of investment merits.
If you won't be actively trading stocks, agree with others that Vanguard index funds (e.g., S&P or total market) are the way to go. Negligible maintenance, decent long-term returns.
By no means a way to put away a lot of cash, but check out Acorns... Help me save ~$20 a week without even noticing. My returns have beat the S&P, too.