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I invest in an inverse triple leveraged ETF that specializes in shorting other cryptocurrency ETF puts.
^ I don’t want to offend, but that is terrible advice. If you’re young go with a high % of equity
I’m 30, and was working low pay jobs throughout my 20s(which I enjoyed)...working with at risk kids ... Savings was something I couldn’t even think about. So joke if you really want to but I’m really trying to get some help... I don’t think I save or earn enough to actually go for a financial advisor and google is pretty confusing.
If nothing else can you recommend some books on investments?
Or does Kpmg offer some sort of guidance for this?
No worries, fellow KPMGer. For any long-term investing like 401k you generally want to go riskier, into higher potential growth. It’s all about having a balanced portfolio while keeping fees low. Some options to consider:
1. Mutual funds as per Dave Ramsey’s investing philosophy: https://www.daveramsey.com/blog/daves-investing-philosophy
2. Index funds or target date retirement funds like those offered at Vanguard
3. Our ML accounts provide an auto-invest option - sort of a robo-advisor that rebalances your portfolio on an ongoing basis based on your goals. If you go with this option I recommend you try balancing as Dave Ramsey suggests:
Growth
Growth and Income
Aggressive Growth
International
^ lol
Definitely go all fixed income if it’s your first 401k.
No offense taken. It was joke.
Typical route is to first contribute the percentage of your salary up to which your employer will match, then Max out Roth IRA then Max out the rest of your 401k contribution to 18.5k. I think KPMG will match 25% of your contribution up to 6%. So put in 6% because you get that 1.5% free, then you Max out the Roth IRA to take of likely better taxes at your current salary. Hope that makes sense. If not, bogleheads has some good advice
Thank you!
Heavy equity based (probably ETFs for you). Target fund is a very good choice for young investors as the amount of equity vs fixed adjusts as you get older. Some say that target funds and not part of your portfolio. It IS your portfolio and it does the blending for you
Depends on how old you are OP. If you are on the younger side I would go 100% equities and work to keep fees low. I might even go 100% small cap to maximize expected returns over longer horizons.
One great feature of the KPMG 401K plan is the ability to overfund your 401K to the tune of 50K+ per year. If you are looking to make catch up contributions for retirement this can't be beat. Look into super backdoor roth IRAs.