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Message
Best way to invest $100/month?
Posted on 12/3/18 at 9:25 pm
Posted on 12/3/18 at 9:25 pm
What would you think would be the best way to invest $100/month?
Starting small, say there is an extra $100/month given to us to do what we want, and we want to “save” it. 20-30 years.
What’s the best 20-30 year return?
ETA: this is lagniappe. But don’t want it for “fun” money.
Both wife and I 401k are doing well.
Both have life
All 4 kids have life insurance
Add to 401k
Whole life for kids(4)
CD
Basic savings
Individual stocks
Stamp collection? Haha
Starting small, say there is an extra $100/month given to us to do what we want, and we want to “save” it. 20-30 years.
What’s the best 20-30 year return?
ETA: this is lagniappe. But don’t want it for “fun” money.
Both wife and I 401k are doing well.
Both have life
All 4 kids have life insurance
Add to 401k
Whole life for kids(4)
CD
Basic savings
Individual stocks
Stamp collection? Haha
This post was edited on 12/3/18 at 9:28 pm
6
Posted on 12/3/18 at 9:50 pm to SaDaTayMoses
VTSMX in a taxable account. Low turnover and can use it for anything you want.
Posted on 12/3/18 at 9:55 pm to SaDaTayMoses
If that’s all you hav extra just put it in an index fund
Posted on 12/3/18 at 9:56 pm to SaDaTayMoses
1. Max all retirement accounts
Don’t worry about other long term savings like college, etc until you have maxed every retirement vehicle possible.
Kid may get a scholarship or join the Navy, but you are very likely to retire one day.
Don’t worry about other long term savings like college, etc until you have maxed every retirement vehicle possible.
Kid may get a scholarship or join the Navy, but you are very likely to retire one day.
Posted on 12/3/18 at 10:04 pm to Fat Bastard
I can invest more ($300 give or take) but wanted to see y’all’s thoughts on $100 a month.
The rest ($200) will go to a short term investment that wife and I want.
The rest ($200) will go to a short term investment that wife and I want.
Posted on 12/3/18 at 10:20 pm to SaDaTayMoses
quote:
The rest ($200) will go to a short term investment that wife and I want
Sounds like an expense
Posted on 12/3/18 at 10:23 pm to Pendulum
Addition to the patio.
Small loan with 0% interest
Small loan with 0% interest
Posted on 12/4/18 at 5:40 am to SaDaTayMoses
I would drop the whole life on all four kids and add that to the $100 month to invest.
Posted on 12/4/18 at 6:51 am to SaDaTayMoses
You’d want to drip a blue chip with that amount or auto buy an etf like VT.
Consider college savings instead. Are you doing this?
quote:I like this idea.
I would drop the whole life on all four kids and add that to the $100 month to invest.
Consider college savings instead. Are you doing this?
This post was edited on 12/4/18 at 7:37 am
Posted on 12/4/18 at 7:57 am to SaDaTayMoses
I would think an online savings account would be good for that level of investing. Once it's up to a few thousand, than you can get more aggressive (index funds). Do you and your wife have Roth accounts?
Posted on 12/4/18 at 9:25 am to Oenophile Brah
No Roth.
Kids have college savings
Kids have college savings
Posted on 12/4/18 at 9:29 am to SaDaTayMoses
quote:Well...I'd have to say this is the priority. Even with a good 401k it's nice to have that tax shelter.
No Roth.
Start a Roth with a thousand bucks or nothing at all and auto invest $100/month in something like VT until you can do $200+ and just keep trucking along Millionaire Next Door style.
This post was edited on 12/4/18 at 9:30 am
Posted on 12/4/18 at 12:09 pm to bayoubengals88
HSA and Roth should be a priority if available.
Posted on 12/9/18 at 11:55 am to Hankg
quote:
I would drop the whole life on all four kids and add that to the $100 month to invest.
I totally agree. Lighting the money on fire that's going into the whole life policies every month would at least produce some heat.
Apart from family poverty (and wanting to have enough to bury the kids), there are very few instances when any kind of life insurance on a kid makes financial sense. If you REALLY have to have life insurance for the kids, buy term. So yeah, as you said, I'd take the money being wasted on that whole life and put it with the $100/mo for DCAing into a mutual fund account.
This post was edited on 12/9/18 at 11:57 am
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