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re: Late to the game: Investing in my late 20's
Posted on 12/30/17 at 9:31 pm to SouthMSReb
Posted on 12/30/17 at 9:31 pm to SouthMSReb
I don’t think that you are late to the game at all. I didn’t start investing and seriously saving for retirement until around 30. Sure I wish I had started earlier as well, but you aren’t too late to get on top of things now.
0
Posted on 12/31/17 at 9:25 am to SlowFlowPro
also i'm mid-30s and i'm about to get a small inheritance/life insurance funds of about $25k
i have savings of $32k and a poker roll of $3300, not counting reserves in my business account. no "retirement" investments as of now. i've been more concentrating on payng down debt and my job isn't salary so i get windfalls here or there and take out chunks of my student loans.
i have about 27-28k left and with that $25k I'm going to pay 7750 or so to pay off the loan with the highest interest rate (5.88%). that means i'd have about $17k left from the insurance
that will leave me with about 20k in SL left at 3.20% which is reasonable ($150/mo in payments)
i need about 3500/mo so 6 months of that is $21k for a 6 month fund. that means i have 11k in savings doing nothing for it + the 17k from insurance. that means i have about $30k to frick around with i just don't know what i want to do with it right now
i feel like RE here is way overpriced and the stock market seems to be hitting a high point. crypto is certainly about to crash and i'll invest for the long term once that happens b/c i think over the very long term it will soar. i guess putting 10-15k in an index fund is worth it just to start the psychological process
i have savings of $32k and a poker roll of $3300, not counting reserves in my business account. no "retirement" investments as of now. i've been more concentrating on payng down debt and my job isn't salary so i get windfalls here or there and take out chunks of my student loans.
i have about 27-28k left and with that $25k I'm going to pay 7750 or so to pay off the loan with the highest interest rate (5.88%). that means i'd have about $17k left from the insurance
that will leave me with about 20k in SL left at 3.20% which is reasonable ($150/mo in payments)
i need about 3500/mo so 6 months of that is $21k for a 6 month fund. that means i have 11k in savings doing nothing for it + the 17k from insurance. that means i have about $30k to frick around with i just don't know what i want to do with it right now
i feel like RE here is way overpriced and the stock market seems to be hitting a high point. crypto is certainly about to crash and i'll invest for the long term once that happens b/c i think over the very long term it will soar. i guess putting 10-15k in an index fund is worth it just to start the psychological process
Posted on 12/31/17 at 10:12 am to SouthMSReb
Your just in case fund should be in cash. It is an emergency fund and needs to be liquid.
Here are my thoughts: In a market dominated by machines and inside information, the individual trader is going to get slaughtered. Also, most investment accounts aren't so large as to be able to effectively diversify risk...and if you do split up your funds to that extent your trading costs on a percentage basis are quite high and the amount of surveillance you have to do expands exponentially.
I would recommend 1. Maxing out your 401k plan, 2. If you have disposable income left over finding am efficient fund family like Fidelity / Vanguard and invest in it.
The key is saving enough for long enough and on this basis you aren't late to the game. Always avoid consumer debt. Understand that the lifestyle available to you will be somewhat less than was available to your parents and grandparents because of the macroeconomic decisions tha have been been made over the last four or five decades. There are always exceptions, of course.
Try to get to 20 percent of your income and then 25. I would also try and get to a place where you have some (ten percent of your net worth) in physical gold.
Here are my thoughts: In a market dominated by machines and inside information, the individual trader is going to get slaughtered. Also, most investment accounts aren't so large as to be able to effectively diversify risk...and if you do split up your funds to that extent your trading costs on a percentage basis are quite high and the amount of surveillance you have to do expands exponentially.
I would recommend 1. Maxing out your 401k plan, 2. If you have disposable income left over finding am efficient fund family like Fidelity / Vanguard and invest in it.
The key is saving enough for long enough and on this basis you aren't late to the game. Always avoid consumer debt. Understand that the lifestyle available to you will be somewhat less than was available to your parents and grandparents because of the macroeconomic decisions tha have been been made over the last four or five decades. There are always exceptions, of course.
Try to get to 20 percent of your income and then 25. I would also try and get to a place where you have some (ten percent of your net worth) in physical gold.
This post was edited on 12/31/17 at 10:17 am
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