Related Posts
Conversation Starter
What's the salary range for a director at the Gilead Sciences foundation? There is a position perfect for me, but I don't want to throw my hat in the ring if starting salary isn't $180-190k. Also, any thoughts on the stability of their philanthropic commitment? There's talk of a recession; I don't want to go private to be cute a few months later.
UBS If I had to move within the company to a different location , how does it work? For example if I move from low cost of living area to high cost of living area does the company re-evaluate the base salary within USA? Or do they come back and mention its your family requirement since your partner is located and you are moving ?Suggestions or experiences any !
More Posts
Need 11 likes for DM pls support
Recommendations for a weekend in SF?
Rising Star
Additional Posts in FIRE Financial Independence Retire Early
Mentor
Coach
New to Fishbowl?
unlock all discussions on Fishbowl.
Hi! I am good at math and even have a business econ degree but have zero interest in what the finance kids did, reading financial statements and studying stocks. Yawn.
I'm accordingly a buy and hold/set it and forget it investor. (That strategy is for my 401k too.) My extra money goes to a single, low expense ratio stock index fund ("Total Stock" or S&P funds are what you would look for) in a taxable account, which I buy into weekly. I'll leave it there until I'll need it. It does its thing and I don't pay attention.
If all stocks sounds too risky, Google "three fund portfolio bogleheads" for good wikis explaining set it and forget it ways to reduce risk. I also like the White Coat Investor blog.
Keep it simple!
(Eta, I'm also a higher earning wife who handles literally all of the financial stuff. Other than being mildly concerned that he won't know where the money is if I die even if I leave him a list, it's nothing to apologize for. There's no shame in dividing labor according to your skills.)
Would suggest you invest in indices like S&P 500 or Vanguard indices instead of picking specific stocks. That way you’ll ensure sufficient diversification and if you want to have fun picking specific stocks - would suggest that you do that with only 5-10% of your overall portfolio (eg money you don’t mind losing 100% and won’t lose sleep over).
If you want to be a teensy bit more advanced - you can consider what type of investor you want to be (eg dividend investor - where you get money from regular dividends paid to you instead of having to sell off your stocks to realise the income; or value investor - where you get money from your stock appreciating and selling it at a higher point than when you bought it to realise the value.)
I’m a dividend investor (I pick funds that generate a steady income and buy to hold, never sell). This means I can live off the dividends forever and not sell down the initial principal. The trade off is that dividend stocks typically don’t appreciate as much as value stocks because they generate dividends that are paid out to investors. If you never plan to sell to realise the value then it doesn’t matter.
See link: https://esimoney.com/seven-steps-to-creating-passive-income-through-dividend-investing/
In the same boat. It’s good problem to have - to figure out where to put your money. Just wish I wasn’t so overwhelmed with the options. I started looking into non-deductible IRA’s last night and just stopped.
Especially since I have traditional IRA’s I won’t be moving. So many tax implications and ‘check with your accountant’ stuff.
Just invest in VFINX. It's the Vanguard S&P 500 Index fund that most people even with very little knowledge invests in. It's got a good track record for performance over a long period of time. Other thing you can do is whatever your annual spend might be, beyond that for emergency funds just open some staggered CDs. Like 2 year, 1 year, etc. provided that the miniscule rate on most CDs are above your HYSA.
Do you have a 401k?
How did you end up doing rentals?
Have a little more faith in yourself. :) You don’t need to be great at math to make some good investments. There’s ton of robo-investors out there that will just ask you a few questions on your age, retirement goals, risk appetite etc and then automatically make investments for you to match the stock market and you can just send them $100 a week (or whatever you can afford) to invest for you without trying to time the market. I’ve done very well with that method (because stocks have been doing great overall the last few years and I’ve doubled down on losses rather than getting scared and pulling money out, mostly... I regret pulling money out post March covid drop).
I like Wealthfront because they have a nice interface and do automatic tax loss harvesting for you. They do charge an annual fee of 0.25% (for the math challenged, that means .0025*your investment money) which I think is not bad, that’s ~$250 on $100k per year (but they charge you monthly so it’s not exactly that - see attached from their website for more detail). I figure I’m making more back than that with the help of their tax loss harvesting.
If you want a no fee robo-investing service, SoFi is available. There’s several other robo investors as well now, you can Google “best robo investor” and you’ll find plenty of articles listing pros and cons of each service (be a little wary since the articles sometimes seem to be funded by a particular service - don’t just go off the first article you see).
Folks on here can also suggest a few index funds you can invest in directly to roughly match stock market returns if you don’t want to use a robo-investor.
Thoughts on the differences between setting it at aggressive vs moderately aggressive?
Thanks again! I’ve already worked with Sofi several times, and had no idea they offered. Went with them. Put in an initial deposit and set up biweekly reoccurring deposits.