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Anonymous ID:AZ8q7R1C Fri 23 Oct 2015 21:21:17 No.935277 View Reply Report Delete

Quoted By:

20 y/o Male here, 33k/year net.
401k, IRA, Roth IRA, what/why/how?

Anonymous

Anonymous ID:1ckdlA1I Fri 23 Oct 2015 21:43:14 No.935291 Report Delete

Quoted By: >>935348

Two schools of thought here.
1 - those prone to gambling will suggest an actively-managed taxable stock portfolio (those are the guys making threads about individual stocks wether they're blue chips or pump-and-dumps).
2 - max out your employer contribution with the 401k, and work towards maxing out your allowable contribution (18k/yr)

Other considerations include investment in housing and otherwise streamlining your lifestyle. What attempts at passive income have you made?

Anonymous

Anonymous ID:AZ8q7R1C Fri 23 Oct 2015 22:43:41 No.935348 Report Delete

Quoted By: >>935498

>>935291
My employer does a 100% 401k match, so I'm currently doing the max allowed amount.
No debt but I think I will buy my dream car in the next year or two when I have a longer credit history.
No attempts at anything, I'm just saving at the moment.

Anonymous

Anonymous ID:1ckdlA1I Fri 23 Oct 2015 23:41:26 No.935390 Report Delete

Quoted By:

tbh at 33k even with no debt the purchase of a new car is throwing thousands away. Buy at least a couple years old. Read "The Millionaire Next Door" While I have no plans for being an extreme couponer, a car is a consumable object, not an investment

Li_Sheng !n54GAoW8Vs

Li_Sheng !n54GAoW8Vs ID:zeRXe1kn Sat 24 Oct 2015 01:31:45 No.935498 Report Delete

Quoted By:

>>935348
I've met 3 very wealthy guys that told me the same story about the Dream Car. They bought used and threw the money into an investment account they and forgot about it.
One day they were driving and saw the dream car a while later. 10 18 and 22 years later.
First guy had 300k account, next guy had half a mill, last guy had a cool million.
Guess which choice they would go back and do all over again.

Anonymous

Anonymous ID:2l9Do4tk Sat 24 Oct 2015 19:11:16 No.936145 Report Delete

Quoted By:

emergency fund

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