10-10-2017, 02:42 AM
(This post was last modified: 10-10-2017, 02:44 AM by Tyler.M.)
That's what they say. Although r/personalfinance also would you have you believe that the only way to do cable is to steal your college room-mate's hulu password, so the advice can be all over the place. I'm working towards investing more in real estate anyways so my cash reserves will be pretty low for probably the next decade as I acquire properties. The 3x salary thing doesn't really work all that well if you're trying to start a side hustle or aggressively build passive income, I think it's more for 1-2 income stream sort of financial profiles.
(10-09-2017, 08:12 PM)Apoc Wrote: We're talking actual cash, in our house.
I should probably use my close reading skills, shouldn't I? I have a degree in it.
I'm assuming you guys must have something better than a sock drawer to stash your stackz... Next home upgrade is a decently sized safe.
2008 4Runner
1974 CB360
2015 FJ09
The salary multipliers don't really work if you have aggressive salary growth either. You could be humming along and get a nice promo and it screws up your basis for the math. At that point, it takes awhile to catch back up if you've got other responsibilities.
Gun safes make great cash money safes. Plus, you get to pretend you're a drug dealer.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
(10-10-2017, 11:55 AM)Apoc Wrote: The salary multipliers don't really work if you have aggressive salary growth either. You could be humming along and get a nice promo and it screws up your basis for the math. At that point, it takes awhile to catch back up if you've got other responsibilities.
Gun safes make great cash money safes. Plus, you get to pretend you're a drug dealer.
I'll keep little baggies of powdered sugar in there for extra realism.
2008 4Runner
1974 CB360
2015 FJ09
So I know this is super vague, but I want to be smarter with my money. When is the right time to make investments? How much money should you have saved before you tie any up in investments?
What kind of investments make sense for someone my age?
Never too early to start investing IMO. Do you have a retirement plan started through your job? Types of investments depend on what your desired outcome is and level of risk you are willing to take.
2019 Accord Sport 2.0 A/T
2012 Civic Si - Sold
(07-10-2018, 10:34 AM)JPolen01 Wrote: Never too early to start investing IMO. Do you have a retirement plan started through your job? Types of investments depend on what your desired outcome is and level of risk you are willing to take.
I'm contributing to my 401k and that's it. I've been pretty reckless with buying cars/things/getting cars towed and I hope to slow it all down after I finish with all of the costs associated with moving this month. What short term investment options should I look at?
The earlier and more you invest, the more it pays off later.
One of my few ragrets was not investing more money when I was blowing it all on cars in my 20's. Playing catch up now. Fortunately I get paid way too much so its not so bad.
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
I've focused on keeping debt low/non-existent and contributing as much as I can to my 401k while also building cash savings. I only recently invested in the stock market and it's more just for fun right now (i.e. I bought a few shares of Apple vs investing $5k in mutual funds or whatever).
My 401ks from past jobs were put into an IRA, which is invested in a mix of mutual funds.
Now:
'16 Ram 1500 | '97 BMW M3 | Some Press Loan
Then:
87 BMW 325e | 91 BMW 535i | 96 BMW 328i | 95 BMW 325i | 95 Mazda Miata | 13 Focus ST | 09 BMW 128i | 00 Pontiac Firebird | 05 Yukon Denali | 96 BMW 328iC | 11 Ford F-150 | 06 BMW M3 | 10 Range Rover SC | '03 Ford Ranger | '18 Ford F-150 | '01 BMW X5 | '98 Volvo S70 T5M
07-10-2018, 11:23 AM
(This post was last modified: 07-10-2018, 11:26 AM by ScottyB.)
Senor_Taylor Wrote:What kind of investments make sense for someone my age?
don't screw with stocks unless you have time to research that form of investing thoroughly and are OK with losing some/all of it despite doing your research. if you want to play the short game with that stuff you need to devote time to tracking stocks every day and being well versed.
shift as much of your paycheck to your 401K as you can. as mentioned, its an exponential thing...the more you invest now, the more/faster it continues to grow as you get older. a 10 year delay can mean an extra million dollars unrealized later in life, as an example.
otherwise, just compliment this with common sense financial tactics - don't buy shit you don't need, keep a budget/track your expenses, don't treat your credit card like monopoly money, have a 3 month emergency fund, etc.
2010 Civic Si
2019 4Runner TRD Off-Road
--------------------------
Past: 03 Xterra SE 4x4 | 05 Impreza 2.5RS | 99.5 A4 Quattro 1.8T | 01 Accord EX | 90 Maxima GXE | 96 Explorer XLT
(07-10-2018, 10:28 AM)Senor_Taylor Wrote: So I know this is super vague, but I want to be smarter with my money. When is the right time to make investments? How much money should you have saved before you tie any up in investments?
What kind of investments make sense for someone my age?
Six months liquidity, in case of layoff.
Max 401k with employer, if you can afford it.
Put anything else you're able to save in an ETF.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
I can't comment on short-term as I am mainly in mutual funds. I don't have the time or attention span to trade individual stocks.
2019 Accord Sport 2.0 A/T
2012 Civic Si - Sold
07-10-2018, 11:39 AM
(This post was last modified: 07-10-2018, 11:40 AM by Evan.)
(07-10-2018, 10:28 AM)Senor_Taylor Wrote: So I know this is super vague, but I want to be smarter with my money. When is the right time to make investments? How much money should you have saved before you tie any up in investments?
What kind of investments make sense for someone my age?
Max out your 401k
pre-tax and employer matching is a big deal.
after that, Betterment and Wealthfront are a great easy button.
Index funds are great and cheap but require some research, planning and care & feeding (thats basically what betterment and wealthfront do for you). Fidelity generally has some of the cheapest.
Markets are cyclical and corrections are normal. Dont freak out when/if in 6 months the market takes a dump.
Also, do some research on expense ratios. High ratios is literally giving money away. Anything less than 0.5% is good, but there are many below 0.1%.
https://investor.vanguard.com/etf/etf-vs-mutual-fund
Here are my bigger holdings and their related expense ratios.
Mutual funds
VQNPX - Vanguard Growth and Income Fund Investor Shares - 0.34%
VMGMX - Vanguard Mid-Cap Growth Index Fund Admiral Shares - 0.07%
VTSAX - Vanguard Total Stock Market Index Fund Admiral Shares - 0.04%
ETFs
VUG - VANGUARD GROWTH ETF - 0.05%
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
(07-10-2018, 11:23 AM)ScottyB Wrote: Senor_Taylor Wrote:What kind of investments make sense for someone my age?
don't screw with stocks unless you have time to research that form of investing thoroughly and are OK with losing some/all of it despite doing your research. if you want to play the short game with that stuff you need to devote time to tracking stocks every day and being well versed.
Index funds. Easy.
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
Opinions on SVSPX?
Why do people just post what they are thinking? Without thinking.
2012 Ford Mustang
1995 BMW 540i/A
1990 Eagle Talon TSI AWD
Half the return of VUG over the last 5 years.
https://yhoo.it/2uawjlJ
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
07-10-2018, 03:48 PM
(This post was last modified: 07-10-2018, 04:10 PM by Sijray21.)
(07-10-2018, 11:14 AM)Jake Wrote: I've focused on keeping debt low/non-existent and contributing as much as I can to my 401k while also building cash savings. I only recently invested in the stock market and it's more just for fun right now (i.e. I bought a few shares of Apple vs investing $5k in mutual funds or whatever).
My 401ks from past jobs were put into an IRA, which is invested in a mix of mutual funds. This.
Investing is good when you have the extra cash to do so. Debt will kill that.
Having 6 mo in liquid savings for a rainy day fund then start to really kill that debt. After that you'll have more ability to distribute your money elsewhere.
I use mint to track net worth, spending, budgets, and cash flow. Awesome for being free.
The only 'investing' I've done so far is in my house. Purchase & renovations that have a good yield for return (kitchen, simple preventive maintenance, adding usable sq ft, and paying down my mortgage on top of the regular payment). I'll look into other investments soon though.
07-10-2018, 04:17 PM
(This post was last modified: 07-10-2018, 04:18 PM by Apoc.)
(07-10-2018, 03:48 PM)Sijray21 Wrote: paying down my mortgage on top of the regular payment). I'll look into other investments soon though.
Can you expound on this? All the calculators I've seen suggest investing is better for people under 50 with with 30 year, low interest mortgages. It'll change with 2018 standard deduction going up, but I don't think that's enough to make a difference for us.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
(07-10-2018, 12:49 PM).RJ Wrote: (07-10-2018, 11:23 AM)ScottyB Wrote: Senor_Taylor Wrote:What kind of investments make sense for someone my age?
don't screw with stocks unless you have time to research that form of investing thoroughly and are OK with losing some/all of it despite doing your research. if you want to play the short game with that stuff you need to devote time to tracking stocks every day and being well versed.
Index funds. Easy.
this is true. lots of reliable good ones out there.
2010 Civic Si
2019 4Runner TRD Off-Road
--------------------------
Past: 03 Xterra SE 4x4 | 05 Impreza 2.5RS | 99.5 A4 Quattro 1.8T | 01 Accord EX | 90 Maxima GXE | 96 Explorer XLT
(07-10-2018, 04:17 PM)Apoc Wrote: (07-10-2018, 03:48 PM)Sijray21 Wrote: paying down my mortgage on top of the regular payment). I'll look into other investments soon though.
Can you expound on this? All the calculators I've seen suggest investing is better for people under 50 with with 30 year, low interest mortgages. It'll change with 2018 standard deduction going up, but I don't think that's enough to make a difference for us. I think for me it's a reassurance to have less debt, but after I sit down and crunch more numbers I may change this approach. Since I'm unfamiliar with investing (still learning) I just default to paying down any debt since that's a safe way to guarantee a 'return' (albeit a 3.375% marginal return).
At the moment I've calculated out that if we add an extra $500/mo to the principal we can have our mortgage gone by the time the kiddo goes to college. We have a 529 that's being funded, but the cash flow at that point without a mortgage would be amazing. After some other expenses in the coming year we should still have some flexibility to throw money into investments even including the extra mortgage payment per month.
How do you all invest? Like which agencies/companies do you work with?
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