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Message
1
Posted on 3/15/24 at 7:51 pm to CecilShortsHisPants
Is there a limit? My wife and I both max out our 401k’s and I backdoor a Roth every year for the max but I’ve never invested in anything else but crypto and stocks from shite I read on here.
I am investing into a business and buying part of a ranch this year but after that I’ll be freed up to look into investing in other things. I have a fidelity account that I have some company stock in. Could I just put a certain amount of money in there monthly and it acts like a 401k?
I am investing into a business and buying part of a ranch this year but after that I’ll be freed up to look into investing in other things. I have a fidelity account that I have some company stock in. Could I just put a certain amount of money in there monthly and it acts like a 401k?
This post was edited on 3/15/24 at 7:54 pm
Posted on 3/15/24 at 7:57 pm to Rize
This guy knows about backdoor roths but has no fricking clue how to buy a large cap index fund.
Posted on 3/15/24 at 8:06 pm to Rize
You can open an individual investing account on Fidelity, or any other broker, and invest as much as you want, no limit. You will pay taxes as income on any realized gains. About as basic as it gets
Posted on 3/15/24 at 8:24 pm to JohnnyKilroy
quote:
This guy knows about backdoor roths but has no fricking clue how to buy a large cap index fund.
My EJ guy does it for me.
Posted on 3/15/24 at 8:41 pm to Rize
quote:
Is there a limit? My wife and I both max out our 401k’s and I backdoor a Roth every year for the max but I’ve never invested in anything else but crypto and stocks from shite I read on here.
Just make your additional investments mainly in index funds
The majority (80%) of my investments outside of 401K now go into 2 funds. VUG and SCHD. The FOMO effect can cloud your judgment with individual stock picking. I acknowledge that I don't know what I'm doing in that realm so I just stick to index funds now.
Posted on 3/15/24 at 9:20 pm to Rize
Just invest in ticker VOO which is Vanguard’s S&P 500 ETF. Mimics the S&P at a low cost. Low cost and is up 30% y/y and 80% over 5 years.
Thats what I meant by just investing in the market at large, sorry wasn’t clear.
Thats what I meant by just investing in the market at large, sorry wasn’t clear.
Posted on 3/15/24 at 9:49 pm to Teddy Ruxpin
quote:
Ya I made a noticeable investment at market height on like January 4th, 2022 in an index.
It took a long time for that lot to turn back positive
Same, I bought a few different ETFs in dec 21 and Jan 22 and while voo is finally positive, schd and some others are still negative.
This post was edited on 3/15/24 at 9:55 pm
Posted on 3/15/24 at 9:53 pm to Rize
(no message)
This post was edited on 3/15/24 at 9:54 pm
Posted on 3/15/24 at 9:55 pm to 632627
Just have to stay the course with VOO, it’s a long game
Posted on 3/16/24 at 8:07 am to PGAOLDBawNeVaBroke
quote:
95% loss?
Yeah seems almost hard to believe
Probably only bought the penny stocks from the ancient tiger threads
Posted on 3/16/24 at 8:33 am to Rize
quote:Name does not compute.
Rize
Posted on 3/16/24 at 9:08 am to PGAOLDBawNeVaBroke
quote:
95% loss?
Oh I assumed they meant they were down $35k to $665k.
Posted on 3/16/24 at 9:55 am to Rize
quote:
Rize
I appreciate having people from more walks of life financially on this board…….but, have you learned anything from your time on the MTB? What you are describing is honestly unnecessarily irresponsible.
Posted on 3/16/24 at 11:40 am to lynxcat
quote:
I appreciate having people from more walks of life financially on this board…….but, have you learned anything from your time on the MTB? What you are describing is honestly unnecessarily irresponsible.
I finally moved some money that was in my checking to a capital one HY savings account. I learned that on here and it’s nice getting a few hundred dollars a month in interest vs sitting and making nothing. Wish I would have done it sooner.
Posted on 3/16/24 at 1:59 pm to lynxcat
quote:
How can people not at least be aware of what their money is invested in?
You do realize there are people out there with W2s only and still need to pay tax professionals to fill out their returns. When it comes to money & numbers; some people just lock up and need others handle everything for them
Posted on 3/16/24 at 2:37 pm to Weekend Warrior79
quote:
How can people not at least be aware of what their money is invested in? You do realize there are people out there with W2s only and still need to pay tax professionals to fill out their returns. When it comes to money & numbers; some people just lock up and need others handle everything for them
I use a CPA and my wife and I are W2 employees but there’s always something like stock vesting or interest from investment accounts.
This year my wife took a new job and she had to pay back a signing bonus that was paid out over two years and then she was reimbursed by her new company as part of taking the new job.
I don’t want no part of that shite so I just send everything to my CPA and let him deal with it.
Posted on 3/16/24 at 3:07 pm to Rize
Tax filings are a completely different beast than the topic in the OP.
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