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26, self employed, where do I start
Posted on 9/18/20 at 10:02 pm
Posted on 9/18/20 at 10:02 pm
Where do I start? I need to obviously start a 401k or a Roth IRA (not sure if that’s correct), but how do I go about doing that? I’m looking to start Investing roughly $1500.00 a month. Let me know if you need any more info.
9
Posted on 9/18/20 at 10:41 pm to boatless2
Remember grass doesn’t grow in the winter but on a serious note, there’s a fire sale on crypto right now. I’d put every dime I had in it right now if I were you. If you’re ignorant about it, do your research. It’s the future of commerce.
This post was edited on 9/18/20 at 10:42 pm
Posted on 9/18/20 at 10:47 pm to boatless2
quote:
Where do I start?
Never forget the following:
Never underestimate the other guy’s greed.
Bears make money. Bulls make money. Hogs get slaughtered.
Fake it till you make it.
Posted on 9/19/20 at 12:21 am to boatless2
Same boat as you. I currently have a Roth Ira, savings account, and pay my debts (truck, house, and student loans).
I did my Roth Ira with betterment, I thinks it's been very successful and easy to do. The current limit for a Roth Ira is $5500 a year I believe, so once you reach that you'll have to find an alternative place to invest or just stick it in savings.
I did my Roth Ira with betterment, I thinks it's been very successful and easy to do. The current limit for a Roth Ira is $5500 a year I believe, so once you reach that you'll have to find an alternative place to invest or just stick it in savings.
Posted on 9/19/20 at 6:11 am to boatless2
Look at a solo 401k with Fidelity, Vanguard, etc
Low cost ETFs or mutual funds.
Low cost ETFs or mutual funds.
Posted on 9/19/20 at 9:03 am to boatless2
Yolo tsla
Posted on 9/19/20 at 9:16 am to boatless2
Open an eTrade or similar account and manage it yourself.
Buy low, look for stocks with a good dividend yield and low debt to asset ratio, diversify. Bonds suck right now so might as well have cash.
Buy low, look for stocks with a good dividend yield and low debt to asset ratio, diversify. Bonds suck right now so might as well have cash.
Posted on 9/19/20 at 9:39 am to boatless2
It's a good time to start both due to your age and because there are a lot of long term bargains out there due to the pandemic. Pick a few good ETFs, buy on the dips and let it ride if you don't want to spend a lot of time studying the market.
Posted on 9/19/20 at 11:38 am to boatless2
get a solo401k where you control the checkbook not some shite through a brokerage where they won't allow you to invest in whatever you want.
get a roth ira
get a roth ira
Posted on 9/19/20 at 4:56 pm to boatless2
Look at starting with a SEP or UniK. Can contribute up to 25% or $57k, the lesser of. Then a Roth. Do individual account also for liquidity needs.
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