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re: Financial Advisors Baton Rouge Area

Posted on 4/23/24 at 4:01 pm to
Posted by saderade
America's City
Member since Jul 2005
25756 posts
Posted on 4/23/24 at 4:01 pm to
quote:

You don’t need a financial advisor. This is the playbook for you, each subsequent step pending there’s still extra money to put into each one: - Contribute to 401k to the extent your employer matches - Max out Roth IRA - Contribute to taxable brokerage account In each account put funds into low-cost diversified ETFs. Vanguard has many good options, VOO (SP500 index) and VIG (dividend growth) are 2 I personally like. If you want to minimize your tax bill, you can lean into the 401k. If you want to build some after tax money, potentially for a down payment on a home, then you can lean in to that account. But be sure you’re contributing enough to 401k to get full employer match. When you’ve accumulated some wealth, you can consider going to an advisor to develop a more robust strategy. The key for you at this point is to remain disciplined about saving. At 24 you are ahead of the game.
Agree with all of this but I would add to max out a HSA if available to you. I’d put it right after the 401k match in order of operations.
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