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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
Posted on 7/19/20 at 12:48 pm to jlovel7
quote:
middle class
Ain't dere no more.
Posted on 7/19/20 at 12:50 pm to meansonny
quote:
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.
this has been my thought as well. will likely continue everything i am doing and building up that down payment (obviously like you say, more than just that) and then working towards some investing goals after that.
Posted on 7/19/20 at 12:54 pm to GreatLakesTiger24
quote:
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
so my work contributions are going towards a roth 401k. you would suggest a separate roth ira as well?
Posted on 7/19/20 at 12:57 pm to BestBanker
quote:
Because someone uses mutual funds in a company sponsored retirement program does not make one an investor. Middle class isn't saving enough money and can do more.
What the hell are you talking about? That’s by definition investing.
It’s not day trading, but you are spending some of your money for it to go into the stock market with company sponsored retirement programs for the benefits of future returns. That’s investing by definition.
Stupid response.
Posted on 7/19/20 at 1:45 pm to Joshjrn
quote:
But to start? $25/wk. Just set up the account and start gathering momentum. That’s most of the battle.
And amp it up when you get a buying opportunity.
Don't try to wait for the bottom. Take a good deal when it's there and if a little better deal cones along the next day take it too. When everything gets back to normal so will the dividend and you'll be pulling a high yield.
Posted on 7/19/20 at 2:27 pm to rockchlkjayhku11
quote:
my work contributions are going towards a roth 401k. you would suggest a separate roth ira as well?
Yes, take advantage of Roth IRA. Roth IRA is a better vehicle than a 401k (no required minimum distributions, you can withdraw contributions penalty free, more investment options) You could even put the house downpayment funds into Roth IRA and pull out the contributions when it's time to buy if you dont have another source. If you really want to diversify tax treatment you could go traditional 401k. (Do you expect your tax bracket to be higher or lower in retirement?) Common generic advice is contribute to 401k up to match, fund Roth IRA, then fully fund 401k.
Posted on 7/19/20 at 2:32 pm to jlovel7
401k doing pretty good
Individual non retirement have safety fund but investments lacking
Individual non retirement have safety fund but investments lacking
Posted on 7/19/20 at 2:32 pm to OysterPoBoy
quote:
We invested in a nice travel trailer a few years ago. I know the resale value won’t go up much like a stock but the money I saved on going on vacation has been enough to go out to eat a few extra times a month.
I'm almost positive this is sarcasm but I've known too many people that actually think and live this way. You did a perfect job capturing their perspective.
Posted on 7/19/20 at 2:33 pm to jlovel7
This is the OT, everyone invest and has 6 figure portfolios..... They also all make 6 figures, have 800 credit scores, pay for vehicles in cash, has an average of 28 on their ACT, and could have played college athletics but passed for school
Posted on 7/19/20 at 2:34 pm to tduecen
Damn. 4/6.
Posted on 7/19/20 at 3:21 pm to jlovel7
quote:
I’m firmly middle class right now and I’ve already got a nice portfolio started because when I first started out in the working world I made sure to dedicate a slice of my income to my required debts, to my required bills, to investing for retirement And savings
Posted on 7/19/20 at 4:30 pm to meansonny
quote:
curious to you opinion of people starting with trust funds. It is a wide gap to people with trust funds. I just dont think that many people start there.
Depends how you define things like wealth and the investor class.
I believe that stat is something like 85% of millionaires are self made and close to 50% of the top 1% are starting with substantial inheritance.
Posted on 7/19/20 at 6:58 pm to jlovel7
These needs to be a required class in high school instead of Algebra 2.
Posted on 7/19/20 at 7:22 pm to jlovel7
As of 2013, the top one percent owned almost 40 percent of stocks, while the bottom 80% owned 8%.
Posted on 7/19/20 at 7:25 pm to jlovel7
My convertible 550 and telluride condo says hello..
Posted on 7/19/20 at 7:51 pm to geauxtigers87
Almost 1/3 of American workers don't take full advantage of a 401k match with their employer
Posted on 7/19/20 at 7:57 pm to Joshjrn
Pay. Yourself. First.
Posted on 7/19/20 at 7:58 pm to jrobic4
(no message)
This post was edited on 12/17/21 at 11:34 pm
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