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Started By
Message
Next step in investing
Posted on 4/26/19 at 12:25 pm
Posted on 4/26/19 at 12:25 pm
So I'm looking for some advice in regards to the next thing I do with my money.
Currently:
28 years old. Single. No kids that I am aware of.
No debt
401k maxed
Roth maxed
HSA maxed
6 month emergency fund full
Have a mortgage. Decent interest rate. Not looking to pay it off any time soon. I expect I can make more money in the market.
What I am looking for:
Something to invest in passively. I have no interest in micromanaging anything.
Something on the higher end of the risk spectrum.
No interest in dealing with rental property.
Currently:
28 years old. Single. No kids that I am aware of.
No debt
401k maxed
Roth maxed
HSA maxed
6 month emergency fund full
Have a mortgage. Decent interest rate. Not looking to pay it off any time soon. I expect I can make more money in the market.
What I am looking for:
Something to invest in passively. I have no interest in micromanaging anything.
Something on the higher end of the risk spectrum.
No interest in dealing with rental property.
8
Posted on 4/26/19 at 12:26 pm to fjlee90
quote:Fat Bastard ain't going to like this
No interest in dealing with rental property.
Posted on 4/26/19 at 12:28 pm to castorinho
Posted on 4/26/19 at 12:29 pm to Fat Bastard
Posted on 4/26/19 at 12:29 pm to fjlee90
quote:I would take at least 1/2 of whatever you are planning on investing on top of that stated above and blow it as you see fit. You’re doing great.
28 years old. Single. No kids that I am aware of. No debt 401k maxed Roth maxed HSA maxed 6 month emergency fund full
Posted on 4/26/19 at 12:36 pm to jimbeam
quote:
I would take at least 1/2 of whatever you are planning on investing on top of that stated above and blow it as you see fit. You’re doing great.
I do have a couple of trips planned.
For the OT'ers here I also enjoy a good foray into hookers and blow.
But I'm trying out this whole "responsibility" thing.
Posted on 4/26/19 at 12:38 pm to fjlee90
Easiest thing would be to put it in a taxable account at something like vanguard or fidelity. Maybe a small cap fund, emerging markets etc
Posted on 4/26/19 at 12:39 pm to fjlee90
My .02
-Do you have PMI on the home loan? If so, payments to get equity above threshold to remove PMI
-Brokerage account: keep dumping into VTSAX
-529 plan if you plan on having kids? Never too early
-Do you have PMI on the home loan? If so, payments to get equity above threshold to remove PMI
-Brokerage account: keep dumping into VTSAX
-529 plan if you plan on having kids? Never too early
Posted on 4/26/19 at 12:43 pm to LSUSPARKY621
quote:
-Do you have PMI on the home loan? If so, payments to get equity above threshold to remove PMI
Negative. Put down 20%.
quote:
-Brokerage account: keep dumping into VTSAX
I have my Roth with Vanguard. Will research this one. Thanks.
quote:
-529 plan if you plan on having kids? Never too early
Can you do that even if the kid doesn't exist yet? Never really researched it but I expected that you would need a SSEC # or something?
Posted on 4/26/19 at 12:44 pm to fjlee90
quote:
quote:
-529 plan if you plan on having kids? Never too early
Can you do that even if the kid doesn't exist yet? Never really researched it but I expected that you would need a SSEC # or something?
Good point, not sure either, don't have kids myself. You're ahead of me
Posted on 4/26/19 at 12:47 pm to jimbeam
quote:
small cap fund, emerging markets
Any recommendations? I tend to like the admiral shares funds. Low cost and relatively good return.
Posted on 4/26/19 at 12:53 pm to fjlee90
quote:
small cap fund
NAESX
ETA: Been good to me and has a 5 star rating on Morningstar. Low fees
This post was edited on 4/26/19 at 12:56 pm
Posted on 4/26/19 at 1:04 pm to fjlee90
quote:technically not since you need to provide name, SSN and all that stuff.
Can you do that even if the kid doesn't exist yet?
But there's a loophole, if you want to call it that. Start it in your name and then transfer it later to theirs when they're born.
Posted on 4/26/19 at 1:22 pm to castorinho
quote:
But there's a loophole, if you want to call it that. Start it in your name and then transfer it later to theirs when they're born.
I like it.
Posted on 4/26/19 at 1:55 pm to fjlee90
What in the hell do you do for a living.
If you're reaching maximums on 401k, Roth, and HSA that's like $28,300 per year stored away
If you're reaching maximums on 401k, Roth, and HSA that's like $28,300 per year stored away
Posted on 4/26/19 at 2:08 pm to bayoubengals88
quote:
What in the hell do you do for a living.
Engineer. Currently on an assignment. Fairly lucrative.
Posted on 4/26/19 at 2:12 pm to castorinho
quote:
But there's a loophole, if you want to call it that. Start it in your name and then transfer it later to theirs when they're born.
Do you have a niece or nephew? I think as long as it's a family member, it can transfer or be used on any family member. But you may want to investigate that more.
Posted on 4/26/19 at 2:27 pm to Cdawg
quote:
Do you have a niece or nephew
Nope. I figure I will open one under my name and transfer it when I have a kid.
Posted on 4/26/19 at 3:20 pm to fjlee90
Open a taxable brokerage account. At your savings rate you may want to retire early and or spend some of your savings before 59 1/2. You'll only pay long term capital gains which could be as low as 0%. You could start w VTI (Vanguard Total Market ETF .04 expense ratio and fairly tax effecient). For more risk/reward venture into individual stocks, sector or leveraged ETFs.
This post was edited on 4/26/19 at 3:25 pm
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