Want to start investing and growing some of our savings but I have NO idea where to start. Buy real estate? Invest in the stock market? I’m clueless. Can anyone recommend some books or resources as a good starting point?

like
Posting as :
works at
You are currently posting as works at

I would tech you to be rich by Remit Sethi could be a good starting point
If you know about real estate then you can do it but if you don’t then most of the folks here would tell you to DCA ( dollar cost average means investing a certain amount per week/2 weeks/ month) into an index fund such as VTI

like

Assuming you’re 22-30…
1. Invest up to the company 401k match
2. Build out 2-3 month emergency savings in high yield savings account
3. Max out Roth IRA (if you’re making <$140k; if more, skip because of eligibility)
4. Max out HSA (if eligible)
5. Start investing $50-250 per paycheck in a brokerage account, buying low cost index funds (VOO for S&P500, VTI for total US market, ONEQ for Nasdaq, RSP for equal weighting of S&P500)
6. Increase 401K contributions
7. Build out 6 month savings
8. Increase brokerage investments
9. Max out 401K contributions
10. Invest in other assets as desired (crypto, real estate, art, NFTs)
Numbers 7-10 may vary by individual but if you want to retire early then you have to invest in a brokerage account and should focus on growing that instead of ONLY maxing out a 401k

like

The Personal Finance Reddit is supposed to be pretty good.

In general:
- save up 3 to 6 months of expenses
- contribute to 401k up to company match
- pay off high interest debt
- max out 401k
- max out HSA
then start evaluating brokerage vs Roth IRA vs 529 based on needs and income level
Then payoff low interest or no interest debt

like

Related Posts

Who is getting into NFT? Friends recently just printing money like the fed on this. Willing to risk a few thousand. You all ?

likefunny

Looking for recommendations on good personal finance apps.. have used mint for a while but wife and I are looking for something we can both link all of our accounts together on…need both mobile and web app

Does anyone work in Dubai or Singapore who can give me an idea what you get paid? Thinking of making the move from Norway. Lower/no personal income tax is the incentive - paying 47% 😭

like

What is cost of leaving near Bagmane TECH park Bengaluru?
1BHK house rent?
#Bengaluru

like

If I max out my 401k before the end of the year, I am still eligible for employer matching?

like

Okay finance lawyers. I don't understand this issue. Client says books show we're highly profitable but we have no way to pay our tax liability.... Well where the hell did tbe money go ? Client also claims that they are only taking a small portion of the revenue as profit. I don't understand how your books can be different than reality.

like

I am curious how Onesource Income tax stacks up against it's competition.

How do you earn $500k and still feel average?

likefunnyupliftinghelpful

Can I survive on £26,300/yr in Belfast?

How do you renegotiate your commission rate on TD Ameritrade and it’s platform ThinkOrSwim? Is this requested online or do you have to call in? Does it have a decent success rate? Im at the original .65.

like

Where do y’all think Ethereum and Cardano will be in a year? I’m hoping former breaks $4,000 and latter breaks $200.

like

[US FBI: Cryptocurrency ATMs are becoming the main tool of investment scammers]

In addition to conventional payment methods such as wire transfers and prepaid cards, cryptocurrency ATMs are also becoming a major tool for cryptocurrency investment scammers, according to the FBI

Post Photo
like
like

Should I ask for a refund for my Delta flight or keep it as credit that can last til 2022? Delta is losing about 50m a day, so it’s a bit concerning. What would you do?

like

Tips for refinancing a car I’ve had for 6 months. I’ve paid on time for every month but I’m paying $600/mo on a loan with 15% interest? I owe $25K. Will the original bank, Chrysler Capital, consider it or do I need to find another organization?

like

Cash out speculative stock portfolio (tech and fin holdings) and buy more cryto?

like

Does anyone know how does the supplemental income work for new CAs?

I spent the last 3 months "growing up" & now I'm ready to go. 1st thing is for me to get my own place. I'd like to buy instead of rent because I don't want to pay someone else's mortgage.

I'm thinking of selling my car & cash out some of my 401k to buy a house. My thought is to put down 3.5% for a FHA loan then make a big payment towards the principal to reduce long-term interest.

Anything wrong with this thinking or anything else I should consider?

How much money do you make and have in your checking and savings? // how many years have you been working post college...

like

Any recommendations for high div stocks with good balance sheets. I’m thinking these could be the best picks in this market with many growth stocks seemingly overvalued

like

More Posts

Has Pfizer done away with Assoc. Director roles in favor of Sr. Manager roles?

like

Does anyone have any tips/tricks for knowing where to plug +1/-1 in a large table with totals across the y and x axis that contain un-rounded numbers? Every time I fix a row I throw off a column or my check figures to the true data source.

Post Photo
like

Anybody use a personal computer for work? How's your experience been, any horror stories/watch-outs?

like

There’s been some turnover over the last six months at my firm, and I have taken over more files. I’m having a hard time getting ahead of briefing schedules and have been asking for extensions on a lot of recent briefs. In my practice area it’s never really an issue or objected to. However, I feel guilty that this is still happening. Any tips for getting over this?

like

Company is offering me either a macbook pro or dell xps for a non engineering role. Which laptop should I choose? I’ve only done professional work on PCs

Soooo anyone here from TBWA that worked on the Theranos branding 👀

likefunny

Looking to take over a lease or sublet an entire place for 3k or less. Ideally in Manhattan. If anyone is leaving nyc in January or February and interested in transferring to me, please dm!

like

Parents are coming into town this weekend. Any recommendations for rooftop restaurants that have good views, great food and relatively affordable? Thinking of either dinner or brunch.

like

NYC's salary transparency law went into effect today. Hope we see actual enforcement, otherwise bad actors like Citi will do things like this:

Post Photo
funnylikehelpful

Honest thoughts/opinions about 22squared in Atlanta? Is their money where their mouth is, or are they all (over-)hype?

Hi producer friends! I’ve got a project shooting in Vancouver. Looking to get a sense of non-union talent fees. It’s been a while since I shot there.

like

Any freelance agency producers increasing their day rate for the purpose of “hazard pay” if the gig requires being on set?

likesmart

Is $100K low for a senior producer @ creative agency in nyc

like

Tip o’ the hat to all the SVPs and EVPs who reply all “congrats team, well deserved...” to the email from the client thanking the team for sending out that banner ad expeditiously.

likefunny

HCL people want to conduct the Cleint round before releasing the offer letter.

I have already received selection email from HCL but not the offer letter yet, it's 25 days.

What should I do, should I give client round before taking offer?

like

I have got pre offer form from ey. And welcome mail as well but i didn't see offer letter anywhere. Where can I find offer letter?

like
like

How much to EM1 at McKinsey make? Base and TC breakdown will be appreciated

like

Senior attorneys at v100, how common is it for attorneys who start at small firms to lateral to biglaw? Have you worked with any? Conventional wisdom is always that if you don’t start there it’s hard to “trade up”. My coworker and I just did it to two different great v30 firms, and I’m wondering if it’s really that uncommon? Just out of curiosity. We’re not special counsel with special niche skills or anything, just associates. Pitfalls to beware? Positives?

like

Additional Posts in Personal Investment Chatter

I started a small LLC on the side. My company is getting it's first client this month.

Wondering if any 🐟 have recommended resources on setting up initial consulting business thru an LLC.

Books, websites, tax strategies etc.

My LLC is already incorporated, but looking for guidance with the next steps (creating contracts, invoices, etc)

likeuplifting

Any any one here created irrevocable trust? If so what are the annual expenses of maintaining the trust? How hard is IRS paper work

like

Investor’s Business Daily: worthwhile?

like

What are your favorite personal finance books? I just read Rich Habits and really liked it. I am also reading the Psychology of Money. Looking to read some more!

like

Anyone else long on AMT?

like

Anyone have experience with Donut app? And their 4% APY? Had any issues pulling money back out? Whats the risk here?

like

HYSA anyone recommends?

like

How do you earn $500k and still feel average?

likefunnyupliftinghelpful

Mint users: why are my linked accounts broken every time I log into mint? Every one, every time

like

What’s the max umbrella policy coverage y’all have seen offered by insurance providers? Looking to get one for the first time. Anything I should consider/ask the insurance company?

like

Does anyone else think that IBKR’s customer service is kinda shitty compared to other brokerages?

like

Using Robinhood to do some day trading. Bought a share of Amazon a few months back and have almost 30% ROI. Should I sell? It seems like it is too high right now and the bottom could fall any moment.

like

Recently received 30k and wondering what to do with it. Not yet a homeowner but also not sure if we’re ready to buy anyways. Have a young baby. Any advice on how to figure out best use?

Anyone looking at airline stocks or ETF play?

like

How does one decide whether to buy in a normal brokerage account vs. Roth IRA?

like

Fidelity or Vanguard for opening a Roth IRA? I’m new to investments, still learning, and I’m more of a buy & hold / hands-off type!

like

Best HYSA with a good account opening bonus?

Saving for a home. Should I save my money in a CD or savings account?

like

Brand new to investing! Husband and I are 37, don’t have any investments other than the home we currently own. Sitting on atleast 100g worth of cash....

like

Whats the benefit of a roth ira vs an individual brokerage account?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal