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What's the best way to invest for retirement?
Posted on 8/3/15 at 7:02 pm
Posted on 8/3/15 at 7:02 pm
Started a side business as a builder two years ago and have a decent amount of money to invest. What's my best option to put money towards retirement. I want to put money into something that will grow(obviously.) I want to add money as I please and not worry about it. I haven't decided how much to start with as I know the housing market is unpredictable. My main job pays my bills and I have a good savings account from it. My side job building is 100% for retirement at the moment. I'm pretty ignorant when it comes to this. I've done well managing the money and reinvesting back into the business and now I want to start putting some away.
7
Posted on 8/3/15 at 7:18 pm to whit
Depends on your income level, but you should immediately start maxing Roth contributions for you and your spouse. Do you have a 401k available from your main gig? Really need more info.
Posted on 8/3/15 at 7:18 pm to whit
Open a Roth IRA or a Traditional IRA.
Invest funds in a mutual fund or broad market ETF.
Invest funds in a mutual fund or broad market ETF.
Posted on 8/3/15 at 7:50 pm to Costanza
My main gig offers 401k. Not sure of the details but everyone that I work with has said its not very good so they've taken other routes for retirement. This is the reason why I've been shoving it all into savings until I figure out what I want to do. It's time to do something now. I know that much 
Posted on 8/3/15 at 8:41 pm to whit
You should really find out the details on the 401k. If they match at all, contribute up to the amount to get to the full match, then put the remainder in a Roth IRA. If you still have more, max out the 401k (18k/year).
I'd tell you that you're stupid for not looking into the 401k earlier and possibly leaving a lot of free money on table, but it's too late for all that.
I'd tell you that you're stupid for not looking into the 401k earlier and possibly leaving a lot of free money on table, but it's too late for all that.
Posted on 8/3/15 at 8:55 pm to whit
Whores, blow, dinars and Bitcoin.
Posted on 8/3/15 at 9:13 pm to whit
quote:
What's the best way to invest for retirement?
Multiple streams of income and investments.
Ownership in a few small businesses, real estate, stock market, etc.
I'm about to be partial owner in a waxing salon in Atlanta. Just looking to diversify.
Posted on 8/3/15 at 9:27 pm to whit
Vanguard
Real estate
3x leveraged ETFs
Pick one or a combo
Real estate
3x leveraged ETFs
Pick one or a combo
Posted on 8/3/15 at 9:30 pm to Fat Bastard
quote:You're behind the times, bruh. Dogecoin's where it's at now for magic Internet money. I mean, they even sponsor a car for NASCAR. It's clearly legit.
Bitcoin.
But seriously, I'd say pick one or a few investments that you like and develop skill in them. Stocks, bonds, real estate, businesses/franchises, websites, intellectual property... there are a lot of options to build wealth that will take care of you in retirement. The question is really, "what do you like, and can you find a way to make decent returns?".
Posted on 8/3/15 at 11:59 pm to whit
I'm in a similar boat. I don't want to start other businesses or become an expert in investing like some folks here. If I did I would make those my main job.
I've maxed out my 401k and me and the wife's IRA.
I'm now putting money in a few broad market funds and ETFs with Vanguard for lack of better ideas. I already have a relatively diverse portfolio of equities and funds. I'll just keep throwing money at the market I guess.
I've maxed out my 401k and me and the wife's IRA.
I'm now putting money in a few broad market funds and ETFs with Vanguard for lack of better ideas. I already have a relatively diverse portfolio of equities and funds. I'll just keep throwing money at the market I guess.
Posted on 8/4/15 at 9:53 am to I Love Bama
quote:
about to be partial owner in a waxing salon in Atlanta. Just looking to diversify.
How does one even get connected here? Just good networking?
Posted on 8/4/15 at 10:53 am to LSUfan20005
quote:
networking
more or less
No idea if I would say good yet though.
Posted on 8/4/15 at 11:17 am to whit
quote:
whit
Can I ask a couple questions about your side business? I have similar plans that I am currently working toward-probably a year out. For what its worth, unless you are in a certain section of Alabama, we won't be competing.
aujim2015@gmail.com
Posted on 8/4/15 at 11:26 am to Spirit of Dunson
quote:
I'm in a similar boat. I don't want to start other businesses or become an expert in investing like some folks here. If I did I would make those my main job.
I've maxed out my 401k and me and the wife's IRA.
I'm now putting money in a few broad market funds and ETFs with Vanguard for lack of better ideas. I already have a relatively diverse portfolio of equities and funds. I'll just keep throwing money at the market I guess.
make sure you have some bonds, and a mix of international/foreign stocks. 100% US equities is a big mistake. Even if they are outperforming right now.
Posted on 8/4/15 at 11:38 am to I Love Bama
Damn. You got 3 down votes for giving a logical serious answer showing your entrepreneurial skills. Haters gonna hate. Lol.
Posted on 8/5/15 at 9:16 am to whit
max out all retirement tax advantaged accounts available.
choose low cost broad market index funds or similar.
keep expenses low.
live below, not just within, your means.
don't buy stupid shite on emotions.
drive cheap reliable Japanese until clear first million then can upgrade if want.
cook at home most of the time, and eat healthy, corporate food bankrupts.
don't get divorced.
don't move unless have to.
insulate house, keep evaporator coil clean with good filters, keep attic ventilated properly.
ditch cable, get antenna.
roll half of any raises into savings.
choose low cost broad market index funds or similar.
keep expenses low.
live below, not just within, your means.
don't buy stupid shite on emotions.
drive cheap reliable Japanese until clear first million then can upgrade if want.
cook at home most of the time, and eat healthy, corporate food bankrupts.
don't get divorced.
don't move unless have to.
insulate house, keep evaporator coil clean with good filters, keep attic ventilated properly.
ditch cable, get antenna.
roll half of any raises into savings.
This post was edited on 8/5/15 at 9:19 am
Posted on 8/5/15 at 10:23 am to stonerolledaway
quote:You left off die the most miserable human being ever due to never actually living your life. Christ there is more to life than waiting for retirement
max out all retirement tax advantaged accounts available.
choose low cost broad market index funds or similar.
keep expenses low.
live below, not just within, your means.
don't buy stupid shite on emotions.
drive cheap reliable Japanese until clear first million then can upgrade if want.
cook at home most of the time, and eat healthy, corporate food bankrupts.
don't get divorced.
don't move unless have to.
insulate house, keep evaporator coil clean with good filters, keep attic ventilated properly.
ditch cable, get antenna.
roll half of any raises into savings.
Posted on 8/5/15 at 11:24 am to lsupride87
Besides having an antenna, I don't think it's unreasonable to do most of that
Posted on 8/5/15 at 11:47 am to jimbeam
I really do need to insulate this old arse house
Posted on 8/5/15 at 6:17 pm to AUjim
quote:
AUjim
Just emailed
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