3 ms·

Fellow millennial here. I'd recommend investing in stock indexes. Your money, on average, will grow at a faster rate than inflation. If you leave your money in

by grardb 10y ago

Fellow millennial here. I'd recommend investing in stock indexes. Your money, on average, will grow at a faster rate than inflation. If you leave your money in a checking or savings account, you will lose money to inflation. If you're interested, I'd check out: - The Mr. Money Mustache blog (my personal favorite) - r/personalfinance - patio11 also wrote an article on investing recently: https://training.kalzumeus.com/newsletters/archive/investing-for-geeks?__s=esaiz3kazigwidftsigk https://training.kalzumeus.com/newsletters/archive/investing... A relevant MMM blog post (there are plenty others): http://www.mrmoneymustache.com/2011/05/18/how-to-make-money-in-the-stock-market/ http://www.mrmoneymustache.com/2011/05/18/how-to-make-money-... There are also a lot of other blogs if you're not into his philosophy or writing style. Edit: Just for clarity, I know that you said you invest in stocks currently, but I was mostly speaking to, "I cant find anywhere else I would put the bulk than a savings account." I don't have a savings account, and I treat my investments like savings. You shouldn't need a lot of money in your current savings account, but you should have a lot in investments. If you feel the need to have a lot in your savings account, I'm guessing it means you take money out of it often, in which case it might as well be in a checking account. Just my $0.02.

FilterSweep 10y ago
Very much appreciated! Do you self-invest, or hire a professional, or mixed? Currently I'm managing my own stocks. My employer, my IRA and other monies I'll never get to see.
- grardb 10y ago
  To start off, I used Vanguard and did it all myself, which is a great option (many would say the best). I've since switched to Wealthfront, which is also pretty cool, although some people believe their slightly-higher fees don't buy you anything[1]. I personally disagree! The general consensus from what I've read on investing is that it's impossible to beat the market consistently, so "professionals" are no more skilled than someone picking out random investment decisions from a hat :) On average, the market as a whole grows, so there's no real reason to try to risk beating it. The MMM blog covers all of this in great detail, but if you're interested in chatting more about this stuff (or if you want a referral to Wealthfront for reduced fees!), hit me up. My email is [myusername]@gmail. [1] https://medium.com/@blakeross/wealthfront-silicon-valley-tech-at-wall-street-prices-fdd2e5f54905#.d1ybm8xaq https://medium.com/@blakeross/wealthfront-silicon-valley-tec...
  - sf_rob 10y ago
    > The general consensus from what I've read on investing is that it's impossible to beat the market consistently The slight addendum to this is that advisors can help with risk tolerance, tax efficiency, and explaining concepts, but as you mentioned Robo-advisors like WealthFront arguably do a good enough jobs at these topics to bridge the gap.
  - toomuchtodo 10y ago
    > To start off, I used Vanguard and did it all myself, which is a great option (many would say the best). I've since switched to Wealthfront, which is also pretty cool, although some people believe their slightly-higher fees don't buy you anything[1]. I personally disagree! Interesting! I switched from Betterment TO Vanguard once I didn't need the guidance they provide (and corresponding higher asset management charges) anymore (target date funds in retirement accounts, life strategy funds in taxable accounts for extreme early retirement Mr Money Mustache style).
  - FilterSweep 10y ago
    Thank you! I will reach out if I choose WF, I'll do some research between the two.

by grardb 10y ago

FilterSweep 10y ago

Very much appreciated! Do you self-invest, or hire a professional, or mixed? Currently I'm managing my own stocks. My employer, my IRA and other monies I'll never get to see.

grardb 10y ago
To start off, I used Vanguard and did it all myself, which is a great option (many would say the best). I've since switched to Wealthfront, which is also pretty cool, although some people believe their slightly-higher fees don't buy you anything[1]. I personally disagree! The general consensus from what I've read on investing is that it's impossible to beat the market consistently, so "professionals" are no more skilled than someone picking out random investment decisions from a hat :) On average, the market as a whole grows, so there's no real reason to try to risk beating it. The MMM blog covers all of this in great detail, but if you're interested in chatting more about this stuff (or if you want a referral to Wealthfront for reduced fees!), hit me up. My email is [myusername]@gmail. [1] https://medium.com/@blakeross/wealthfront-silicon-valley-tech-at-wall-street-prices-fdd2e5f54905#.d1ybm8xaq https://medium.com/@blakeross/wealthfront-silicon-valley-tec...
- sf_rob 10y ago
  > The general consensus from what I've read on investing is that it's impossible to beat the market consistently The slight addendum to this is that advisors can help with risk tolerance, tax efficiency, and explaining concepts, but as you mentioned Robo-advisors like WealthFront arguably do a good enough jobs at these topics to bridge the gap.
- toomuchtodo 10y ago
  > To start off, I used Vanguard and did it all myself, which is a great option (many would say the best). I've since switched to Wealthfront, which is also pretty cool, although some people believe their slightly-higher fees don't buy you anything[1]. I personally disagree! Interesting! I switched from Betterment TO Vanguard once I didn't need the guidance they provide (and corresponding higher asset management charges) anymore (target date funds in retirement accounts, life strategy funds in taxable accounts for extreme early retirement Mr Money Mustache style).
- FilterSweep 10y ago
  Thank you! I will reach out if I choose WF, I'll do some research between the two.