Author Topic: The Investment Thread!  (Read 8543 times)

0 Members and 1 Guest are viewing this topic.

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #105 on: June 14, 2020, 10:39:01 AM »
I'd love to own rental properties, but I don't have the cash for a down payment right now and real estate prices are sky high at the moment, so I don't feel like it's a great time to buy. And it just sounds like a lot of work. I invest in REITs instead. Maybe someday though...

Offline Cool Chris

  • DTF.org Alumni
  • ****
  • Posts: 9776
  • Gender: Male
  • Inglourious Basstard
Re: The Investment Thread!
« Reply #106 on: June 14, 2020, 11:36:40 AM »
My previous employers were real estate investors and had success with a couple rental properties. It might be a regional issue, but more progressive areas are enacting legislation making it more and more challenging to do anything about deadbeat tenants.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #107 on: June 14, 2020, 11:46:05 AM »
My previous employers were real estate investors and had success with a couple rental properties. It might be a regional issue, but more progressive areas are enacting legislation making it more and more challenging to do anything about deadbeat tenants.
Yeah, Minneapolis is difficult and I know many rental property owners are moving out of the city. Most of the suburbs around me are easier.

Offline goo-goo

  • Posts: 2313
    • Discogs Store
Re: The Investment Thread!
« Reply #108 on: June 15, 2020, 08:07:27 AM »
Do you guys have other sources of passive income?

I am also thinking about getting into rental property and am at the beginning stages of researching that.

You could also build a portfolio with high dividend stocks. Check this guy's portfolio.

https://www.thedividendpig.com/dividend-portfolio/

You can use M1 Dividend with the above portfolio and they let you invest with fractional shares if you don't have a lot of cash available.

Not only you get the benefit of the company appreciation throughout time, but you get constant dividend payouts and if re-invested, you can get higher returns.

I also use Betterment for kind of like a set it and forget it. They are a Roboadvisor but so far, I haven't been disappointed by the fees (low) and returns (pretty good prior to this Covid crashes).

I would like to get into options but I need to learn more about them. Any good starting educational sites or books on how to start Reaper?
Downsizing CD Collection. Check out what I'm selling.
https://www.discogs.com/seller/ProgSnob99

Offline ReaperKK

  • Sweeter After Difficulty
  • DT.net Veteran
  • ****
  • Posts: 13278
  • Gender: Male
Re: The Investment Thread!
« Reply #109 on: June 15, 2020, 02:59:38 PM »
I have an options textbook from the 90's that gives you a lot of foundational information but is a little bit out of date, I'll try to dig it up and shoot you a pm. There is a good bit of information to learn the ins and outs on youtube and investopedia. If you go through the youtube route be weary of the indicator/trade signal sellers. I also learned a lot with trial by fire using a paper account with ThinkorSwim. Finally there is wallstreetbets on reddit which is essentially an options gambling subreddit, that said there can be some really interesting analysis pop up there if you are willing to sort through the memes, if you go to WSB check out Kamikaze Cash on youtube. He lays out some good rules for options day trading as well as some of the advanced strategies used in options.

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #110 on: June 18, 2020, 01:05:30 PM »
There's no way we're not going to have another market crash soon, right? I know long term investors should just stay is and ride out the dips, but man, is it tempting to sell right now. I'm tempted to sell off a couple funds I have an just stick them in bonds for the time being. Someone talk me out of it. :)

Offline axeman90210

  • Official Minister of Awesome, and Veronica knows my name!
  • DTF.org Alumni
  • ****
  • Posts: 12456
  • Gender: Male
  • Never go full Nick
Re: The Investment Thread!
« Reply #111 on: June 18, 2020, 01:33:43 PM »
None of us can reliably time the market. There used to be no way we were going to have a national downturn in the housing market :)
Photobucket sucks.

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #112 on: June 18, 2020, 03:39:55 PM »
None of us can reliably time the market. There used to be no way we were going to have a national downturn in the housing market :)
No, but even if I sell tomorrow and miss another 10% growth before the market drops big time, I'm still ahead, right? As long as I buy back in at a price that's lower than what I sold at. I'm not going to do it because all the financial experts I trust say to just stay in and keep dollar cost averaging, but still... Tempting.

Offline ReaperKK

  • Sweeter After Difficulty
  • DT.net Veteran
  • ****
  • Posts: 13278
  • Gender: Male
Re: The Investment Thread!
« Reply #113 on: June 19, 2020, 04:18:13 PM »
There is a saying that no one has gone broke taking profits. I personally believe there will be another down turn, how much and when i don't know. I closed out my last calls today and I'm going to stay out myself for a while and stick to fx.

Offline goo-goo

  • Posts: 2313
    • Discogs Store
Re: The Investment Thread!
« Reply #114 on: June 22, 2020, 07:56:03 PM »
I have an options textbook from the 90's that gives you a lot of foundational information but is a little bit out of date, I'll try to dig it up and shoot you a pm. There is a good bit of information to learn the ins and outs on youtube and investopedia. If you go through the youtube route be weary of the indicator/trade signal sellers. I also learned a lot with trial by fire using a paper account with ThinkorSwim. Finally there is wallstreetbets on reddit which is essentially an options gambling subreddit, that said there can be some really interesting analysis pop up there if you are willing to sort through the memes, if you go to WSB check out Kamikaze Cash on youtube. He lays out some good rules for options day trading as well as some of the advanced strategies used in options.

Thanks for the info. Iíll check your recommendations. I hoping that this year I can buy a duplex.
Downsizing CD Collection. Check out what I'm selling.
https://www.discogs.com/seller/ProgSnob99

Offline Chino

  • Be excellent to each other.
  • DT.net Veteran
  • ****
  • Posts: 22909
  • Gender: Male
Re: The Investment Thread!
« Reply #115 on: August 13, 2020, 11:55:57 AM »
I stumbled upon a guy on Reddit about two years ago that time and time again would make the most ridiculous calls on successful penny stocks (I'm not a penny guy). But for laughs, I started following everything he posted, keeping tabs on all his calls and how they played out. He's right a shocking amount of the time.

He's been praising JADA for a few weeks now, and I decided to gamble a little bit. I bought 5000 shares for $0.04 and it's sitting at $0.30 as I type this. I sold off half of my shares a few minutes ago for a nice little profit and kept the other 2500 shares in there. It's up 98% today alone.

Edit: 154% now  :lol I'm pissed I sold those shares so early. I was already up like 90% on them, and when it hit +45% this morning, I figured that was a good time to exit.
« Last Edit: August 13, 2020, 12:55:22 PM by Chino »

Offline ReaperKK

  • Sweeter After Difficulty
  • DT.net Veteran
  • ****
  • Posts: 13278
  • Gender: Male
Re: The Investment Thread!
« Reply #116 on: August 13, 2020, 12:49:49 PM »
nice! This wasn't on wallstreetbets was it?

Offline Chino

  • Be excellent to each other.
  • DT.net Veteran
  • ****
  • Posts: 22909
  • Gender: Male
Re: The Investment Thread!
« Reply #117 on: August 13, 2020, 12:54:38 PM »
nice! This wasn't on wallstreetbets was it?

Nah. I can't stand that sub. I think people purposely troll other users with bad picks on purpose there. It's really vile there sometimes. The guy I'm referring to is a rogue poster that pretty much dumps all his thoughts on a sub he created called r/PennyHaven. Guy's name is u/CaptainWeee

Offline ReaperKK

  • Sweeter After Difficulty
  • DT.net Veteran
  • ****
  • Posts: 13278
  • Gender: Male
Re: The Investment Thread!
« Reply #118 on: August 13, 2020, 01:05:04 PM »
I've seen Captainwee's posts a few times. I'd like to do some penny stock investing but the amount of hoops I have to jump through at work to execute one penny trade isn't worth it.

 I like WSB, there is a lot of real garbage there but the meme's are fantastic.

Offline Chino

  • Be excellent to each other.
  • DT.net Veteran
  • ****
  • Posts: 22909
  • Gender: Male
Re: The Investment Thread!
« Reply #119 on: August 13, 2020, 01:59:34 PM »
I've seen Captainwee's posts a few times. I'd like to do some penny stock investing but the amount of hoops I have to jump through at work to execute one penny trade isn't worth it.

 I like WSB, there is a lot of real garbage there but the meme's are fantastic.

I go through Fidelity and have no issues. Only caveat is you can't put in orders for OTC stocks when the market is closed.

Offline cramx3

  • Chillest of the chill
  • DTF.org Alumni
  • ****
  • Posts: 26544
  • Gender: Male
    • The Home of cramx3
Re: The Investment Thread!
« Reply #120 on: August 13, 2020, 02:09:14 PM »
I've seen Captainwee's posts a few times. I'd like to do some penny stock investing but the amount of hoops I have to jump through at work to execute one penny trade isn't worth it.

 I like WSB, there is a lot of real garbage there but the meme's are fantastic.

I go through Fidelity and have no issues. Only caveat is you can't put in orders for OTC stocks when the market is closed.

I believe Reaper works for a bank so to do any investment you need the bank to sign off on you to allow it, to prevent inside trading and whatnot.  It prevented me from wanting to dip my toes in awhile ago when I used to work for a bank.  I'd be more open to penny stocks if they were available on robinhood.

Offline ReaperKK

  • Sweeter After Difficulty
  • DT.net Veteran
  • ****
  • Posts: 13278
  • Gender: Male
Re: The Investment Thread!
« Reply #121 on: August 13, 2020, 02:14:24 PM »
Yea you hit the nail on the head cram, I work for an investment bank (but not an investor myself) so to get one stock trade approved I have to submit a request, it will most likely get denied, if it doesn't get denied it goes under review, if it gets approved I then have to comply with minimal holding times before selling. There are some instruments that I can trade without requesting approval like ETFs and FX.

Offline Chino

  • Be excellent to each other.
  • DT.net Veteran
  • ****
  • Posts: 22909
  • Gender: Male
Re: The Investment Thread!
« Reply #122 on: August 13, 2020, 02:17:12 PM »
Ahhhh. That makes sense. Bummer. There are rules for me trading insurance stocks because of the information my department sees.

Offline Cool Chris

  • DTF.org Alumni
  • ****
  • Posts: 9776
  • Gender: Male
  • Inglourious Basstard
Re: The Investment Thread!
« Reply #123 on: November 20, 2020, 09:19:40 PM »
How many people completely max out their retirement savings? I know about the 15% rule (15% of your gross goes to retirement), and I assume that most people aren't even doing that. But does anyone make it a goal to cap out investing in a Roth IRA and 401k every single year?

Just did the math on this. We get to about 15% between our IRAs and my wife's defined contribution plan. I do not have a plan through work, but Mrs. Cool has both a defined contribution and defined benefits plan. There were times in my 20s I legit thought I was a month or two away from sleeping in my car, so I get how it can be hard for people to sock away any amount of money, but we all, collectively and individually, gotta find a way to do it.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline H2

  • Posts: 340
Re: The Investment Thread!
« Reply #124 on: November 21, 2020, 09:39:42 AM »
Just did the math on this. We get to about 15% between our IRAs and my wife's defined contribution plan. I do not have a plan through work, but Mrs. Cool has both a defined contribution and defined benefits plan. There were times in my 20s I legit thought I was a month or two away from sleeping in my car, so I get how it can be hard for people to sock away any amount of money, but we all, collectively and individually, gotta find a way to do it.
Goodness...it sounds like you're not in that situation any more. That must be a huge relief.

Guys, I'm kinda new to personal finance (maybe about 3 years). I'm getting more into the idea of maxing everything out, being a responsible adult, doing well for myself and a future family. I've been figuring out what it would look at different incomes and investment strategies. I live in MO, so I'll factor in taxes for MO accordingly...

1. Poverty line
Pre-tax income: $22k.
Post-tax income: $18k
Investment strategy: 6k into Roth IRA
Left over: $12k (or about $1k/month)

2. Average income
Pre-tax: $50k
Post-tax: $40k
Investment strategy: $6k into Roth IRA, $19.5k into 401k
Left over: $12.5k (or about $1k/month)

3. Six-figures
Pre-tax: $100k
Post-tax: $70k
Investment strategy: $6k into Roth IRA, $19.5k into 401k
Left over:$42.5k (or about $3.5k/month)

4. Mid-career
Pre-tax: $150k
Post-tax: $100k
Investment strategy: $19.5k into 401k
Left over: $80.5k (or about $6.5k/month)

5. Baller
Pre-tax: $200k
Post-tas: $140k
Investment strategy: $19.5k into 401k
Left over: $120.5k (or about $10k/month)

Presently, I'm in category 1, because I'm a graduate student on a living stipend, so that's what I'd get. I would say I live "comfortably", but I intentionally avoid large expenses (no car, rare trips, etc.). I think supporting a family on that income would be extremely challenging, if not undoable.

Category 2 leaves me with the same net "leftover" money after investing, so I'd assume my QoL and lifestyle would be exactly the same as it is in Category 1.

Category 3 looks to be the biggest step up. As a single person, I feel that I would be able to have everything I could really want. I think it would be totally doable to support a family on that income, too. It'd be tight, but I think I could do it and spouse wouldn't need to work either.

Category 4 looks like I wouldn't really feel a difference between 3 and 4 if I were a single person. But with kids and a family, it looks like we'd be pretty cushy. They'd go to the best private schools, enjoy the best extracurricular activities. We'd be looking good.

Category 5 looks extraneous. I can't think of what would be added to life stepping from 4 to 5. More real estate investing? Multiple homes? Trophy cars? Not sure what would be gained.

I'm kind of an idealist and I honestly don't have a clear perspective on things. This is just how the numbers seem to me. Please correct me if I'm way off base or if you have something to add from your experience.

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #125 on: November 21, 2020, 10:07:02 AM »
Almost no one is investing at those levels apart from FIRE (financial independence retire early... look it up if you're not familiar) people. Half invest nothing, probably half of the rest
invest less than 10%. We invest between 20-25% toward financial independence and are solidly in your level 3 in terms of income, but also have four kids and only one full time income which makes things a little trickier. We're on pace to reach financial independence in our mid-50s. Not sure what that means in terms of retirement, but I'll be in a position where I can work if I choose to instead of having to work.

I am super passionate about personal finance. I think the vast majority of people could be doing so much better with just a few minor changes, including me honestly even though we're doing quite well for ourselves at the moment.

I'm actually launching a side business as a personal finance coach in order to build my passions for smart financial decisions and helping people into what will ideally grow into a full time business someday. Shameless plug if anyone wants help getting out of debt, investing for retirement, setting up a budget, or simply taking control of their finances.

Offline Cool Chris

  • DTF.org Alumni
  • ****
  • Posts: 9776
  • Gender: Male
  • Inglourious Basstard
Re: The Investment Thread!
« Reply #126 on: November 21, 2020, 12:43:01 PM »
I think the vast majority of people could be doing so much better with just a few minor changes....

I know when I was in my 20s and realized I wasn't saving anything for retirement, I had no idea how or where to get started. I ended up asking my dad, who was an accountant. He wasn't as much help as I had hoped, but he did point me in the right direction, and that was all I needed to get started. I bet for a lot of people a little guidance could go a long way.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #127 on: November 21, 2020, 12:51:27 PM »
I think the vast majority of people could be doing so much better with just a few minor changes....

I know when I was in my 20s and realized I wasn't saving anything for retirement, I had no idea how or where to get started. I ended up asking my dad, who was an accountant. He wasn't as much help as I had hoped, but he did point me in the right direction, and that was all I needed to get started. I bet for a lot of people a little guidance could go a long way.
Absolutely. Having a workplace 401k certainly helps with that, but even that can be overwhelming. But for those without one, there's nothing obvious about opening and funding an IRA.

The bad thing is that the first dollar you invest is the most important one as it has the most time to grow. Those investments made in your 20s are way more valuable than those in your 50s or 60s when most people get serious about it.
« Last Edit: November 21, 2020, 01:11:13 PM by lordxizor »

Offline Cool Chris

  • DTF.org Alumni
  • ****
  • Posts: 9776
  • Gender: Male
  • Inglourious Basstard
Re: The Investment Thread!
« Reply #128 on: November 21, 2020, 03:07:35 PM »
I've only had one job that offered a 401k plan. I recall it was pretty easy to set-up and understand, and this was back when I knew nothing about investing. I think setting up and managing your own IRA would be much more overwhelming than enrolling in a 401k at work.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline MinistroRaven

  • Posts: 1783
  • Gender: Male
    • LotsOfMuzik
Re: The Investment Thread!
« Reply #129 on: November 21, 2020, 04:19:07 PM »
I recently signed up with eToro, I wanted to do it with Fidelity but they don't allow non US residents to do it.

I don't know much about investing, but this is something I would love to do, even if only starting with small stocks.

For those that are into investing, what would you recommend me?

Offline Cool Chris

  • DTF.org Alumni
  • ****
  • Posts: 9776
  • Gender: Male
  • Inglourious Basstard
Re: The Investment Thread!
« Reply #130 on: November 21, 2020, 06:55:14 PM »
For those that are into investing, what would you recommend me?

What are your goals? Long-term financial stability, or short term gains? What level of risk are you comfortable with?
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline MinistroRaven

  • Posts: 1783
  • Gender: Male
    • LotsOfMuzik
Re: The Investment Thread!
« Reply #131 on: November 22, 2020, 10:58:18 AM »
For those that are into investing, what would you recommend me?

What are your goals? Long-term financial stability, or short term gains? What level of risk are you comfortable with?

i would say long term financial stability

Offline axeman90210

  • Official Minister of Awesome, and Veronica knows my name!
  • DTF.org Alumni
  • ****
  • Posts: 12456
  • Gender: Male
  • Never go full Nick
Re: The Investment Thread!
« Reply #132 on: November 22, 2020, 11:02:23 AM »
Low-cost passive index funds
Photobucket sucks.

Offline Chino

  • Be excellent to each other.
  • DT.net Veteran
  • ****
  • Posts: 22909
  • Gender: Male
Re: The Investment Thread!
« Reply #133 on: November 23, 2020, 01:21:13 PM »
I think the vast majority of people could be doing so much better with just a few minor changes....

I know when I was in my 20s and realized I wasn't saving anything for retirement, I had no idea how or where to get started. I ended up asking my dad, who was an accountant. He wasn't as much help as I had hoped, but he did point me in the right direction, and that was all I needed to get started. I bet for a lot of people a little guidance could go a long way.
Absolutely. Having a workplace 401k certainly helps with that, but even that can be overwhelming. But for those without one, there's nothing obvious about opening and funding an IRA.

The bad thing is that the first dollar you invest is the most important one as it has the most time to grow. Those investments made in your 20s are way more valuable than those in your 50s or 60s when most people get serious about it.

I'm posting this not to brag, but rather to put it into perspective for some of the younger members on this forum. Starting and contributing to my 401K plan was something my father got on my case about as I neared adulthood. He waited until his early 30s to start saving, and he calls it his life's biggest regret. I started contributing the maximum I was allowed to my 401K plan about a week after I turned 21. We're just shy of the 11th anniversary of that move. Since then, between continuing my own contributions and employers matching, I just cracked $100K in my retirement portfolio, and I'm not even 32 yet. It's pretty much the one thing I've managed to get right in adulthood seeing as my savings account only has about four weeks of runway in it  :lol Even if I were to cease all 401K contributions tomorrow, what I have in there now should still be worth $1.1M-ish by the time I'm ready to retire.   

Get in as early as you can, people. You'll thank yourselves down the road.

« Last Edit: November 23, 2020, 01:32:09 PM by Chino »

Offline jingle.boy

  • I'm so ronery; so sad and ronery
  • DTF.org Alumni
  • ****
  • Posts: 32813
  • Gender: Male
  • DTF's resident deceased dictator
Re: The Investment Thread!
« Reply #134 on: November 23, 2020, 01:27:44 PM »
^ That.  So very much.  Pay yourself first.  $50/mo if that's all you can.  Plan the investments/deposits the same day as your payday so you (ideally) never even notice it's "missing".
Looking at my most recent posts, it almost seems like I'm trying to become the Common Sense of DTF :lol
You'd have an easier time trying to bring the internet to the Amish.
Turns out chlamydia tastes pretty good.

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #135 on: November 23, 2020, 03:35:31 PM »
My favorite financial advisor youtube channel talks all the time about how $1 invested at age 20 with average returns can turn into $88. $1 at 30 is like $23. $1 at 40 is $7. Time is the most powerful thing when it comes to gaining wealth. Even if it's just $50 a month at first it can make a huge difference.

My experience was similar to Chino. I thankfully always got my full employer match in my 401k starting at 23. I cracked $100k around 33-34 $200k less than 3 years later and am well on my way to $300k less than 2 years later. Things really start to accelerate after that first $100k.

Offline cramx3

  • Chillest of the chill
  • DTF.org Alumni
  • ****
  • Posts: 26544
  • Gender: Male
    • The Home of cramx3
Re: The Investment Thread!
« Reply #136 on: November 23, 2020, 05:16:06 PM »
I think the vast majority of people could be doing so much better with just a few minor changes....

I know when I was in my 20s and realized I wasn't saving anything for retirement, I had no idea how or where to get started. I ended up asking my dad, who was an accountant. He wasn't as much help as I had hoped, but he did point me in the right direction, and that was all I needed to get started. I bet for a lot of people a little guidance could go a long way.
Absolutely. Having a workplace 401k certainly helps with that, but even that can be overwhelming. But for those without one, there's nothing obvious about opening and funding an IRA.

The bad thing is that the first dollar you invest is the most important one as it has the most time to grow. Those investments made in your 20s are way more valuable than those in your 50s or 60s when most people get serious about it.

I'm posting this not to brag, but rather to put it into perspective for some of the younger members on this forum. Starting and contributing to my 401K plan was something my father got on my case about as I neared adulthood. He waited until his early 30s to start saving, and he calls it his life's biggest regret. I started contributing the maximum I was allowed to my 401K plan about a week after I turned 21. We're just shy of the 11th anniversary of that move. Since then, between continuing my own contributions and employers matching, I just cracked $100K in my retirement portfolio, and I'm not even 32 yet. It's pretty much the one thing I've managed to get right in adulthood seeing as my savings account only has about four weeks of runway in it  :lol Even if I were to cease all 401K contributions tomorrow, what I have in there now should still be worth $1.1M-ish by the time I'm ready to retire.   

Get in as early as you can, people. You'll thank yourselves down the road.

Yea, this is good advice.  If you can afford to max out the 401k, the earlier the better.  It'll pay off big time later.  My first job after college that I worked at for 7 or so years didn't even offer a 401k so I was pretty late to to game when I finally started contributing almost 7 years ago now.  I haven't been able to max it out each year, but my savings have grown significantly regardless as I made sure to at least get the highest employer match.  For someone like me, where managing money is often a mental game, having that money put away automatically without me even really seeing and noticing is really important towards me not spending it.  Between my 401k and my house, as long as I can hold a job I'll be set in the long run without having to have a large cash savings.  I mean, I have a nice little 2 year supply of cash if needed, but it won't take much for me to have to crack into it (like something breaking in the house or losing my job). But it's nice to have that set of money set aside that's growing (generally) that I don't see and don't really think too much about.  If you can afford it, take full advantage of a 401k.

I guess it also helps not having kids  :lol I'd be struggling so much more financially if I had kids, but then again, that's another reason to start early. 

Offline lordxizor

  • EZBoard Elder
  • *****
  • Posts: 3939
  • Gender: Male
  • and that is the truth.
Re: The Investment Thread!
« Reply #137 on: November 23, 2020, 06:00:24 PM »
In many cases you're better off getting the full company match on your 401k, then maxing out your Roth IRA, then going back to max out your 401k. The Roth IRA likely has lower frees and you can invest in literally anything instead of what your company chooses to put as options in the 401k. But the phycological aspect of the money never entering your bank account makes it better for some people to just stick with the 401k.

And yes, having kids make it more difficult to save, but we manage to do so even with four kids and one income. I really, really want to retire someday. Or at least reach financial independence where I can choose to work instead of having to. I think that day will be a huge psychological weight off my shoulders.

Two year in cash is a lot cram. Most recommend 3-6 months. Any particular reason you feel the need to carry so much?

Offline cramx3

  • Chillest of the chill
  • DTF.org Alumni
  • ****
  • Posts: 26544
  • Gender: Male
    • The Home of cramx3
Re: The Investment Thread!
« Reply #138 on: November 23, 2020, 06:54:17 PM »
Two year in cash is a lot cram. Most recommend 3-6 months. Any particular reason you feel the need to carry so much?

Honestly have been thinking about this.  I'm not quite sure what the "recommended" amount of cash is to have. 6 months does not seem like a lot of time to me. I often worry about one wrong thing happening, whether it is my house or my health or job, that I could really use that cash. I've only recently got to this point so am pretty much thinking any extra cash is going to the stock market, one way or the other. Also should have my car paid off in 2021, I was putting most of my extra cash to pay that off the last two years instead of investing.

Offline H2

  • Posts: 340
Re: The Investment Thread!
« Reply #139 on: November 23, 2020, 07:54:04 PM »
I think I asked this somewhere else, but curious to get all you money-lovers' opinions here....

What income would be required to accomplish the following goals?
1) Living in TN
2) maxing out tax-advantaged retirement accounts
3) saving for x kids' full college path (including graduate degrees)