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Question on how to invest for a small account
Posted on 1/5/24 at 6:07 pm
Posted on 1/5/24 at 6:07 pm
Hello,
I'm not yet 40, my retirement will consist of multiple rental properties and a long term ESOP with a quickly expanding company. So I have that set up, I think, well.
What I want to do is start an investment account to put money into to eventually replace my 2013 truck with 145k miles on it
I'd prefer an option with an easy app to use, along with the ability to largely go with an ETF and ability to picks stocks here and there for a 5-8 year hold.
Any broker recommendations or things I may be overlooking?
I'm not yet 40, my retirement will consist of multiple rental properties and a long term ESOP with a quickly expanding company. So I have that set up, I think, well.
What I want to do is start an investment account to put money into to eventually replace my 2013 truck with 145k miles on it
I'd prefer an option with an easy app to use, along with the ability to largely go with an ETF and ability to picks stocks here and there for a 5-8 year hold.
Any broker recommendations or things I may be overlooking?
3
Posted on 1/5/24 at 6:33 pm to Bronco11
Throw it in Fidelity and split it 50/50 between VOO and SCHD. Dividends and growth. 5-8 years is a beautiful time frame for this. Individual stocks is gambling.
Posted on 1/5/24 at 9:33 pm to Thundercles
I wouldnt chase dividends especially in a taxable account. Its just gonna create tax drag. Nothing magic about dividends its just the company forcing you to take equity out instead of retaining earnings and you choose when to cash in.
Posted on 1/6/24 at 7:10 am to Bronco11
We have our vehicle fund in Schwab (transferred from TD Ameritrade). Some say there are fees but I haven’t seen any yet and I have Vanguard and various other ETFs. I don’t do single stocks in this account.
Posted on 1/6/24 at 8:15 am to Bronco11
You are likely over thinking this OP. It’s a good chance to start a taxable brokerage account for sure. But you aren’t going to earn a lot most likely in 5 years and $10-30k. You could just put it into a money market getting 4-5%.
Probably the best thing is to call this an ‘emergency fund’ and do auto transfers of a certain amount and then just buy a single etf.
Probably the best thing is to call this an ‘emergency fund’ and do auto transfers of a certain amount and then just buy a single etf.
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