4 ms·

Based on the comments here that HN is not the right audience for Digit. It's also worth noting that HN is not representative of the majority of the population

by Johnie 11y ago

Based on the comments here that HN is not the right audience for Digit. It's also worth noting that HN is not representative of the majority of the population in the country. CFSI has quite a bit of research on the financial health in the country [1]. Services, like Digit and Even [even.me], solve a problem that many of us don't face. I'm curious how the HN population manage your money. Do people differentiate between savings and investing? How are people saving? Are people seeking yield/greater return? Also, what tools/apps do you guys use/like? [1] http://www.cfsinnovation.com/Document-Library/Understanding-Consumer-Financial-Health http://www.cfsinnovation.com/Document-Library/Understanding-...

knicholes 11y ago
I'm pretty sure that Adobe auto-enrolled me into a Vanguard Target Retirement 2050 Fund 401k after 60 days of employment. Also, I put 25% of my income in to ESPP (purchase stocks at a guaranteed 15% discount with a lock-in price for two years, so if the stock goes up, it's 15% + whatever the stock increase is). This has been by far my most successful investment (because I was buying at 38 and selling at 72-94 for two years). I also have a chunk of cash set aside for when they finally realize I'm a useless employee and can me (while I search for a new job). I also am trying to time the market, which I've been told is a bad idea and impossible, but I haven't done the research to actually know this for sure. I've sold all of my stocks that I can anticipating another large market correction (look at the S&P 500 graph and assume that the past will influence the future, which is also crazy) with the intent to re-enter the market at the bottom of the correction.
- shostack 11y ago
  While it sounds like you've been lucky thus far, the brightest economic minds are pretty much in agreement that for Joe Investor (and most people for that matter), trying to time the market is a fool's bet, so you can save yourself the research there.

by Johnie 11y ago

knicholes 11y ago

I'm pretty sure that Adobe auto-enrolled me into a Vanguard Target Retirement 2050 Fund 401k after 60 days of employment. Also, I put 25% of my income in to ESPP (purchase stocks at a guaranteed 15% discount with a lock-in price for two years, so if the stock goes up, it's 15% + whatever the stock increase is). This has been by far my most successful investment (because I was buying at 38 and selling at 72-94 for two years). I also have a chunk of cash set aside for when they finally realize I'm a useless employee and can me (while I search for a new job). I also am trying to time the market, which I've been told is a bad idea and impossible, but I haven't done the research to actually know this for sure. I've sold all of my stocks that I can anticipating another large market correction (look at the S&P 500 graph and assume that the past will influence the future, which is also crazy) with the intent to re-enter the market at the bottom of the correction.

shostack 11y ago
While it sounds like you've been lucky thus far, the brightest economic minds are pretty much in agreement that for Joe Investor (and most people for that matter), trying to time the market is a fool's bet, so you can save yourself the research there.