Sanrith Descartes
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Investing General Discussion
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Sanrith Descartes
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I am going to say this as nicely as I can. Stop speculating and start investing. Its ok to take a small percentage of your money and gamble but the vast majority should be in either ETFs are blue chip stocks. This is my retirement account. it has some SPAC speculation, but 90% of it is in the non-SPAC names. Assuming you have a 10+ year window just buy quality shit and hold it forever. There is more than enough info available here to help you choose quality investments. Quit chasing get rich quick stuff. No one ever went broke buying MSFT and holding it.
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Tmac
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FWIW, when I was getting out of XPOA you suggested SVFA
I think my challenge was that in the past few months all of those stocks have been at ATH's. And when I asked what to do w my money here, the sentiment was to not get in at the ATH. So, I just found some low dollar stuff w all or nothing growth.
So, given that I need to start investing. Where do I start?
I think my challenge was that in the past few months all of those stocks have been at ATH's. And when I asked what to do w my money here, the sentiment was to not get in at the ATH. So, I just found some low dollar stuff w all or nothing growth.
So, given that I need to start investing. Where do I start?
Sanrith Descartes
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First. How old are you? Second do you have a 401k? If you do, how much are you contributing annually? 4th If married, same questions for your wife.FWIW, when I was getting out of XPOA you suggested SVFA
I think my challenge was that in the past few months all of those stocks have been at ATH's. And when I asked what to do w my money here, the sentiment was to not get in at the ATH. So, I just found some low dollar stuff w all or nothing growth.
So, given that I need to start investing. Where do I start?
Tmac
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Mid 30's. No. Yes. She was supposed to look into her work's 401k two months ago and I'm sure she hasn't.
I have like $25k in cyrpto, $11k in a Roth, and $2k in stonks.
Wingz
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If you (or your wife) work for a company that has a 401k many of them match up to a certain percentage. May want to at least make the minimum just to match since it's free money.
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Tmac
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Sanrith Descartes
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Using a Roth means you are supposing your tax bracket will be higher in retirement than it is today. Do you feel that way? A traditional IRA plans on a lower tax bracket in retirement.
Get the 401k done immediately and then calculate how much you can afford to shove in there.
You have a 30+ year window for your retirement investments. Buy at the top today has zero meaning for you with that time window.
What investments are in your Roth?
The fact that you have 2.5x the amount of money in crypto than you do your Roth is out of whack in my opinion.
This thread over the last 18 months has provided various strategies for investing. Go read some and it will help.
To be perfectly honest, get your investment base built up on ETFs. They come in lots of flavors and you truly cant go wrong owning SPY, QQQ, FTEC, SPYG etc. Ultra low fee index ETFs. You can also do a mixture. My daughters custodial account is nothing but QQQ and SPYG. Thats it. Oh and 1 share of SBUX because she likes owning it.
Buy an ETF or two, and continue putting money into them when you can. Dont look at them. Once you have a nice investment base established then maybe go overweight one or two of the blue chips because you believe in their fundamentals. Almost 40% of my money is in FTEC. My AAPL/MSFT/CRM etc are just there to allow me to go overweight the positions and because I bought them at significant discounts due to specific events.
ps.. I did advise SVFA since it was a SPAC discussion. I still own it.
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Sanrith Descartes
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Fogel
Mr. Poopybutthole
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FWIW, when I was getting out of XPOA you suggested SVFA
I think my challenge was that in the past few months all of those stocks have been at ATH's. And when I asked what to do w my money here, the sentiment was to not get in at the ATH. So, I just found some low dollar stuff w all or nothing growth.
So, given that I need to start investing. Where do I start?
FTEC, SPY, and QQQ would be my recommendations, its what I have spread out amongst my retirement accounts.
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Sanrith Descartes
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Fogel
Mr. Poopybutthole
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And I agree with Sanrith that you're overweight in crypto. Some will come here and say "look at BTC over the last 10 years", but 10 years isn't a lot of time to base a large portion of your retirement around, while we have over a hundred years of data on the stock market.
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Fogel
Mr. Poopybutthole
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Yeah, not going to complain about 1% a day so farThat DIS position you took is printing
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Sanrith Descartes
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I am not anti-crypto. I am not anti-anything that can make me money (except GOOG, FB and TWTR). I did my first crypto trade the other day and made almost 8% in less than a day. I dont see it today having a place as a long position in a portfolio but i think its a viable swing trade target.
Tmac
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My Roth is in FSKAX. It's in the screenshot I posted.
I can get a 401k setup through Fidelity, yes?
Roth is capped at $6,000 and 401k at $18,000 correct? Prioritize 401k > Roth > Stonks?
Gravel
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So the reality is that the market is almost always at an all time high. It's some ridiculously high number (80%?) that it's trading within 5% of the top. That's how it is when "the market always goes up." On long timelines, it does. At least over the 200ish years of its existence.
Start dumping money into a 401k if you can, and in an IRA to max it. If you have no other options to invest, throw it into a taxable.
I wish I had started sooner, but the 2nd best time to start is today. If I had just put it off because we were at all time highs, I wouldn't be retiring.
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Sanrith Descartes
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401k accounts are done via the employers. You wife will have to use their plan and provider. You cant have one yourself unless your employers offers it. If you are self employed you can set up a SEP.
There are worksheets you need to check on the IRS page concerning allowable contributions to retirement accounts. It depends on income, your wife's participation etc. Its a pretty simple worksheet. go find it and walk through it for maximums. If not capped then yes those maximums sound right.
FSKAX is Fidelity total market which sounds solid.
Yes on the priority. It assumes you have a good option to invest in in the 401k. If there is no good index available then hit it for the matching fund cap and then go to IRA.
Sanrith Descartes
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Maxing out my annual 401k contribution was an amazing feeling. Like sex but better because it will last longer
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Sanrith Descartes
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