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You do you I guess, but you should probably move your money out of overinflated stocks and invest it into the tech, medical, finance, and mining sectors if you want to see the best ROI with relatively low risk.
Meme stocks AMC and GME getting the trading halt treatment this morning as a massive run starts. It’s almost like shorts didn’t close their positions from 2021 and they aren’t dead cats…
Quotes from the article: “The economy is slowing down faster than expected while inflation is heating up more than expected. That’s pretty close to the worst situation possible for the economy.”
AND
“It’s looking like something has to seriously break. Powell’s unenviable job is to decide which it is – bonds, stocks, the pace of the recovery?“
9 months ago I said we’d see we a market collapse and probably a recession but the FED chose to continue to do nothing.
Now we have inflation near 9% and as announced today, the US economy contracted in Q1. Another contraction in Q2 and we’ll be in an official recession.
I hope everyone sold their positions at or near 52-week highs and captured those profits.
I want to start putting a certain amount of money into stocks every month, now that I have a job. I have a *general* idea of how much I want to put in, but it's not set in stone obviously.
Am I better off continuing to put that money in Robinhood/Stash/Acorns or opening an actual brokerage account and using the money from the Robinhood/Stash/Acorns accounts to kickstart it?
I want to start putting a certain amount of money into stocks every month, now that I have a job. I have a *general* idea of how much I want to put in, but it's not set in stone obviously.
Am I better off continuing to put that money in Robinhood/Stash/Acorns or opening an actual brokerage account and using the money from the Robinhood/Stash/Acorns accounts to kickstart it?
Get an actual brokerage account. As long as you stick with one of the major names, you’ll be fine (ie Fidelity, TD, Schwab, etc).
I want to start putting a certain amount of money into stocks every month, now that I have a job. I have a *general* idea of how much I want to put in, but it's not set in stone obviously.
Am I better off continuing to put that money in Robinhood/Stash/Acorns or opening an actual brokerage account and using the money from the Robinhood/Stash/Acorns accounts to kickstart it?
Get an actual brokerage account. As long as you stick with one of the major names, you’ll be fine (ie Fidelity, TD, Schwab, etc).
I think I might go with JP Morgan simply because I already have a Chase bank account
Get an actual brokerage account. As long as you stick with one of the major names, you’ll be fine (ie Fidelity, TD, Schwab, etc).
I think I might go with JP Morgan simply because I already have a Chase bank account
You started working fairly recently, right? Does your job offering a 401k or have you set up an IRA? I’d highly recommend taking advantage of tax advantaged long term investments like those first, then play around with a brokerage account with whatever budget you have left after that.
I think I might go with JP Morgan simply because I already have a Chase bank account
You started working fairly recently, right? Does your job offering a 401k or have you set up an IRA? I’d highly recommend taking advantage of tax advantaged long term investments like those first, then play around with a brokerage account with whatever budget you have left after that.
I'll be eligible for the 401k in a couple months.
Off the top of my head if I put 6 percent of my pay in, the company will put 5 percent in
You started working fairly recently, right? Does your job offering a 401k or have you set up an IRA? I’d highly recommend taking advantage of tax advantaged long term investments like those first, then play around with a brokerage account with whatever budget you have left after that.
I'll be eligible for the 401k in a couple months.
Off the top of my head if I put 6 percent of my pay in, the company will put 5 percent in
Great. At minimum you should put in enough to get the full match from your company, that’s free money. I’d recommend having a medium-long term goal of maxing out your annual 401k contribution. But you’ll need some savings that will be accessible pre retirement, so don’t want to over invest in a 401k if it’ll leave you without anything you can access to buy a car or a house or whatever.
Off the top of my head if I put 6 percent of my pay in, the company will put 5 percent in
Great. At minimum you should put in enough to get the full match from your company, that’s free money. I’d recommend having a medium-long term goal of maxing out your annual 401k contribution. But you’ll need some savings that will be accessible pre retirement, so don’t want to over invest in a 401k if it’ll leave you without anything you can access to buy a car or a house or whatever.
just seconding all of this. only thing i'd add is when choosing what to invest in, the easiest option is a Target Retirement Fund. They are labelled by year, like Target Retirement Fund 2045, Target Retirement Fund 2050, etc. choose the year you plan on retiring. essentially what they do is the closer you get to retirement, the fund automatically invests less in stocks (high risk/more volatile) and more into bonds/cash (low risk/less volatile). so when you are a few years away from retirement you don't get stuck in a situation where a sudden market downturn erases a bunch of your retirement fund.
Great. At minimum you should put in enough to get the full match from your company, that’s free money. I’d recommend having a medium-long term goal of maxing out your annual 401k contribution. But you’ll need some savings that will be accessible pre retirement, so don’t want to over invest in a 401k if it’ll leave you without anything you can access to buy a car or a house or whatever.
just seconding all of this. only thing i'd add is when choosing what to invest in, the easiest option is a Target Retirement Fund. They are labelled by year, like Target Retirement Fund 2045, Target Retirement Fund 2050, etc. choose the year you plan on retiring. essentially what they do is the closer you get to retirement, the fund automatically invests less in stocks (high risk/more volatile) and more into bonds/cash (low risk/less volatile). so when you are a few years away from retirement you don't get stuck in a situation where a sudden market downturn erases a bunch of your retirement fund.
Those are pretty lame imho. It’s not a bad strategy for way down the line to preserve wealth, but they can’t possibly take economic up and downturns into consideration except generally. They also nix market opportunities when a sector is outperforming the overall market. Most plans have multiple options, and if a fund is making say 48% a year, you’re not going to reap the benefits of those opportunities by using an automatic adjusting strategy. I feel like those are geared to low information investors who just put money in and forget about it. Someone Ellie’s age is much better with an extremely aggressive strategy - at least for a while. I’m a few years away from retirement and am still rolling the dice. I got boned some this year because I put everything (not a good strategy, but it paid off for me) into Will Danoff’s Contrafund. It’s not the greatest in the giant tech/growth sector, but those years you hit 25-30% really start paying off later. I had to restart everything after Katrina and divorce which is about 17 years. But in those years, a targeted fund strategy will have been crushed. Since 2012, the performance:
No way is a targeted fund bringing that kind of bank. I opted for Giant Tech because it was the future. Not sure what happens long term going forward, but the primary investments are:
8.48% - Berkshire Hathaway 7.26% - Amazon 6.25% - Microsoft 6.24 l% - Meta 5.88% - United Healthcare 4.5% - Apple 3.15% - Alphabet Class A 2.85% - Alphabet Class C
I agree with Meatball Sub that your strategy should be to eventually max out your contributions whichever funds you have to choose from. An easy way to do that is to increase your contribution % 1 or 2% each year until you reach your max. Initially you’ll want to invest, at a minimum, whatever amount gets you the full match of your employer. After that you can adjust. Remember that 401k’s are taken out of your check pre-tax as they are taxed later at withdrawal. He also gave you an excellent piece of advice to have a side savings. The general rule of thumb is to accumulate about 6-8 months of expenses so that if you find yourself in a bind, you won’t be pressured to settle for a shit job or be desperate for income if you run into a hardship. It takes a while to get there, but if you save wisely, you can be where you want to be in only a few years.
Speaking of the market, it's starting to skyrocket after Fed Chairman Powell signaled the Fed easing back on future rate increases from 0.75% to something more modest beginning next month. They've done 4 consecutive 0.75% increases, so if they tamp that back to .5% or .25% in the future, that will be a sign that their monetary policy is successfully fighting inflationary pressures. Stocks were mixed but mostly down earlier in the day, but as of this minute, Dow is up 406 (1.29%) and climbing, NASDAQ is up 327.45 (2.98%) an dthe S&P is up 77.28 (1.95%).
You started working fairly recently, right? Does your job offering a 401k or have you set up an IRA? I’d highly recommend taking advantage of tax advantaged long term investments like those first, then play around with a brokerage account with whatever budget you have left after that.
I'll be eligible for the 401k in a couple months.
Off the top of my head if I put 6 percent of my pay in, the company will put 5 percent in
That's a sweet deal if they have the option to automatically increase your contribution every year opt into that. So like this year will be 6% next year 7% etc. You'll get raises and you won't even feel the % increase in savings.
