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re: Does the middle class not invest?
Posted on 7/19/20 at 9:35 am to jlovel7
Posted on 7/19/20 at 9:35 am to jlovel7
quote:
Does the middle class not invest?
im pretty firmly middle class right now, and i don't invest outside of a 401k that i contribute up to my company's match each paycheck. i probably should, but i don't feel as though i know enough about it to get started, and i definitely don't like making uninformed decisions.
i wouldn't have a ton to invest in the market, but im in that spot where i have an emergency fund in savings, i don't really look at my bank account or even notice when i get paid (i know when, it just doesn't really matter), and don't have any debt.
my downsides to getting involved are that id like to continue building towards a down payment on a house in the next 12-24 months and that im fairly risk averse financially. how liquid can i remain? what should i do?
3
Posted on 7/19/20 at 9:43 am to rockchlkjayhku11
How old are you?
Posted on 7/19/20 at 9:44 am to rockchlkjayhku11
quote:
downsides to getting involved are that id like to continue building towards a down payment on a house in the next 12-24 months and that im fairly risk averse financially. how liquid can i remain? what should i do?
I'm not a money board expert, but focus on your short term goal of getting a house.
There are good loan options with 3%down (you need more than just the down payment saved, but that is your starting point).
Better loan options come at 5% down and 10% down. But you dont want to miss a low rate environment while you save for the down payment.
Dont worry about investing if your next investment is a home. Owning (in most cases) is better than renting. That is a great first investment.
Posted on 7/19/20 at 12:44 pm to rockchlkjayhku11
i'm far from an expert but you should at least put a couple thousand in a roth ira if youre in youre in your 20s or 30s
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