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Started By
Message
re: 3k deposit today in charles schwab brokerage account
Posted on 1/1/25 at 9:43 am to dyerbro
Posted on 1/1/25 at 9:43 am to dyerbro
I like the responses because I don't know what I am doing.
I'm 53. I am married. Kids grown. Four grandchildren.
My 401k has hmm I don't know 100k?
No pension.
Cash flow is spend less than we make only by small amount less than 500 month.
This is emergency fund money maybe.
For
Something always pops up like need new tires, car repair, plumbing,repairs, water heater, lawnmower repairs it never ends. lol
No debt. House cars paid for.
___________
Don't try to be an expert stock picker.
Don't try to get rich quick.
Keep most of your money in index funds/etfs.
The s&p500 is probably the safest choice to make a decent return with low risk of losing money. Keeping all or most of your money here is not a bad choice.
I'm 53. I am married. Kids grown. Four grandchildren.
My 401k has hmm I don't know 100k?
No pension.
Cash flow is spend less than we make only by small amount less than 500 month.
This is emergency fund money maybe.
For
Something always pops up like need new tires, car repair, plumbing,repairs, water heater, lawnmower repairs it never ends. lol
No debt. House cars paid for.
___________
Don't try to be an expert stock picker.
Don't try to get rich quick.
Keep most of your money in index funds/etfs.
The s&p500 is probably the safest choice to make a decent return with low risk of losing money. Keeping all or most of your money here is not a bad choice.
3
Posted on 1/1/25 at 9:57 am to Fat Batman
To the moon
Posted on 1/1/25 at 10:50 am to dyerbro
Put it all on the Hawk Tuah coin
Posted on 1/3/25 at 11:52 am to KWL85
Thanks everyone for the reply.
Dad passed away and left me a 68k life insurance.
The met life people finally sent me the check but the bank has a hold on the check for another week.
Dad passed away and left me a 68k life insurance.
The met life people finally sent me the check but the bank has a hold on the check for another week.
Posted on 1/3/25 at 12:20 pm to dyerbro
I sent $30k to my Fidelity account this week.
Posted on 1/3/25 at 8:33 pm to notiger1997
quote:
I sent $30k to my Fidelity account this week.
i just sent 45k to one of my schwab accounts.
oh and PSA:
as much as i liked vanguard years back i ditched them, now all my stuff is with SCHWAB and E-trade.
vanguard will NOT allow you to invest in
BITO
IBIT
SVOL
etc
etc
frick them. i can do all those with E-trade and schwab. so now have trading brokerage accounts with both.
solo 401k
Traditional IRA
Roth IRA
all with schwab
Posted on 1/3/25 at 9:26 pm to KWL85
quote:
My 401k has hmm I don't know 100k?
No pension
Be prepared to work until 70 where you will top on on social security.
That is your best financial path forward unless you plan on dieing in your 60s.
Posted on 1/4/25 at 7:59 am to dyerbro
You should examine your income and expenses carefully. With grown kids, paid-off vehicles, and a paid-off house, $500 extra per month is not very much. If your emergencies are on a level with tires, lawnmower expenses, and a water heater that would cause you to dip into your $38K, then you will not have it very long.
Vehicles don't last forever, and if you do not have savings, you will likely wind up in debt again when they kick the bucket.
The other side is income. These should be prime earning years for you. An extra 12 K a year would be significant towards building a nest egg. You must not be maximizing your 401 K contributions. You need to be moving in that direction (23,500 per year), and you will save some on payroll taxes. If you do not have a side hustle, now would be a time to think about it.
Vehicles don't last forever, and if you do not have savings, you will likely wind up in debt again when they kick the bucket.
The other side is income. These should be prime earning years for you. An extra 12 K a year would be significant towards building a nest egg. You must not be maximizing your 401 K contributions. You need to be moving in that direction (23,500 per year), and you will save some on payroll taxes. If you do not have a side hustle, now would be a time to think about it.
This post was edited on 1/4/25 at 8:19 am
Posted on 1/5/25 at 1:04 pm to WhiskeyThrottle
quote:
Ancient Tiger was a MT relic for about 3 weeks.
NGL I made about 7200 off all that shite.
I also got a warning for trading without settled funds over it.
Posted on 1/5/25 at 1:48 pm to Fat Bastard
quote:
as much as i liked vanguard years back i ditched them, now all my stuff is with SCHWAB and E-trade.
Vanguard sucks arse.
You can’t even roll options.
Is it easy to transfer Roth from VG to Schwab? Any fees to do so?
Posted on 1/5/25 at 3:12 pm to KWL85
quote:
KWL85
You need to spend the next 10 years pumping every penny you make into retirement.
Posted on 1/5/25 at 3:26 pm to I Love Bama
quote:The OP?
You need to spend the next 10 years pumping every penny you make into retirement.
He absolutely does. He’s at least two decades behind without a pension.
Posted on 1/5/25 at 7:46 pm to bayoubengals88
quote:
Vanguard sucks arse.
i agree. waste of time for traders or even serious investors.
quote:
Is it easy to transfer Roth from VG to Schwab?
yes! easiest transfer i have ever done. zero papers to fill out and mail or phone calls to make or emails to send. can be all done electronically. Schwab will ask for account info and they get it swapped over for you. easy peazy.
quote:
Any fees to do so?
yes. vanguard charged me 20 dollars to transfer my traditional ira and 20 dollars to transfer the roth ira. well worth it. glad to have gotten the hell outta there.
Posted on 1/5/25 at 8:38 pm to Fat Bastard
Appreciate it 
Posted on 1/6/25 at 1:24 pm to bayoubengals88
Posted on 1/7/25 at 10:09 am to I Love Bama
You need to spend the next 10 years pumping every penny you make into retirement.
________
Guess you are referring to the OP. I am in early retirement. Full-time investor now and working for my kids and grandkids now.
________
Guess you are referring to the OP. I am in early retirement. Full-time investor now and working for my kids and grandkids now.
Posted on 1/7/25 at 11:54 am to KWL85
quote:What does this mean?
Full-time investor now
Posted on 1/8/25 at 10:26 pm to KWL85
quote:
I am in early retirement.
how old? 55? 50?
you trade full time? or just live off investments now?
Posted on 1/9/25 at 8:21 am to bayoubengals88
quote:
Full-time investor now
What does this mean?
__________
For me, it means this is what I "do for a living now". I am trying to not touch my retirement money for at least another 5 years. Investing is my job now.
Full-time investor now
What does this mean?
__________
For me, it means this is what I "do for a living now". I am trying to not touch my retirement money for at least another 5 years. Investing is my job now.
Posted on 1/9/25 at 8:54 am to Fat Bastard
quote:
I am in early retirement.
how old? 55? 50?
you trade full time? or just live off investments now?
__________
Retired from my day job at 55 about 7 years ago and living off my investments. I worked in a high stress environment for years, and made a plan to build up my investment money with a goal of not staying in my normal environment until retirement. Only touched my 401 once when the wife and I bought new vehicles in the same month. Otherwise, living off income from investments.
Another reason I say full-time is that I invest in real estate, along with the stock market. The real estate takes a bit of time. I got into it 20 years ago, and have built it up to double-digit deals annually. I do mostly residential new construction, but dabble in a little commercial property/leases. I mainly buy building lots, hire builders to build houses, and hire realtors to sell them. Occasionally, I buy land and get it developed into building lots. On the stock market side, I am still mostly a buy and hold guy, but I seem to make more changes than my younger years.
I am in early retirement.
how old? 55? 50?
you trade full time? or just live off investments now?
__________
Retired from my day job at 55 about 7 years ago and living off my investments. I worked in a high stress environment for years, and made a plan to build up my investment money with a goal of not staying in my normal environment until retirement. Only touched my 401 once when the wife and I bought new vehicles in the same month. Otherwise, living off income from investments.
Another reason I say full-time is that I invest in real estate, along with the stock market. The real estate takes a bit of time. I got into it 20 years ago, and have built it up to double-digit deals annually. I do mostly residential new construction, but dabble in a little commercial property/leases. I mainly buy building lots, hire builders to build houses, and hire realtors to sell them. Occasionally, I buy land and get it developed into building lots. On the stock market side, I am still mostly a buy and hold guy, but I seem to make more changes than my younger years.
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