S&P index fund. NASDAQ index fund Dow index fund Russell 2000 index fund Any or split it among all of these for lowest fees and to not be concentrated in one market or stock top too much.
I appreciate the advice you guys. If I decide to split between different index funds, do I have to work with different companies? Or can I do everything with someone like Charles Schwab? My son is a little too young (about to turn 2) to pay rent on a investment property, nor are we in a position to buy one to begin with.
this is a text from my buddy who retired about a month ago, "Good morning, I will be very honest with you. Don’t listen to other people about retirement, each person responds differently. It’s not good for me, extremely too much down time. I don’t like looking for things to do, I need the everyday stress and being responsible to get somewhere and have a daily responsibility. Even at 75, I am telling you to only retire when you are ready and not because of age or the number of years on the job. It truly is a major adjustment."
There's plenty of free ways to set up regular or retirement accounts, I use Etrade The ETF's will have built in fees, usually under .5% No reason to pay an advisor on top of that
The very first thing anyone needs to make sure that they are doing is participating in their employer's 401k program to the fullest extent that there is company matching. That is THE only free lunch in this world. If you think that you can't afford to, you are wrong: you can't afford NOT to! Put your allocation in an s&p500 index fund there. No need for any other investment in that format.
I was going to say go back and read the first couple pages of this thread, but I looked and saw "buy a CD" and something about bitcoin...so...nawww Good point above about the 401k Other thing that comes to mind- an IRA or 401K that has the Roth option- take it! Only way a non-Roth makes sense is if your itemized tax deductions are well above the standard deduction. Otherwise you'll be like me and paying taxes twice on your contributions.
I have less than zero concerns about being bored or being able to keep myself busy during retirement. That shit blows my mind.
It really isn't as cut & dried as you might think. Especially if you're in the position of having an SO that's still working for the company health insurance kicker. I took my cut and jumped from the portfolio management game long ago, but we didn't quite have FU money so the missus kept her career on track to keep us insured. No way could I have just f*cked off (completely) all these years. So I drive around & play with dogs all day. In a couple of years, when the highway cuts through my front yard and I sell this place for beaucoup ducats, we'll find me Cadillac insurance on the marketplace until I hit 65 and get that goobermint gravy insurance and we'll both find something else to do. But to have ust goofed off all this time would have resulted in me going batshit along with my wife. Everyone's situation is different. Everyone's temperament is different. The dude that owns the dookie scooping company I sold out to is 72, worth 8 figures if not 9... and still goes and works alongside the laborers at the commercial real estate sites he refurbishes & sells. I think he's pretty much nuts... but he's happy.
I don't wanna yuck anybody's yum so everyone should do whatever makes them happy, but I will reiterate that I will have no problem spending my time: 1) playing golf 2) riding streetbikes 3) riding dirtbikes 4) racing big bikes with ASRA (or WERA if I move south) 5) racing and riding kart track bikes 6) doing track days 7) some charity work 8) working out 9) wrenching on bikes 10) traveling 11) and spending time with friends and family I reckon that'll keep me plenty busy. And I'm gonna retire literally THE MINUTE my account hits a certain number.
A bit surprised PLTR hit my sell limit- sold about 1/4 of my shares at $85. Over 1000% gain in just over 2 years, I'll take it!
I would suggest, respectfully, that other mistakes were made that have nothing to do with retirement age.
Well, in his defense I've worked at many of my customers shops and some of those dudes retire late and are dead in < 3 yrs Men need purpose, so I'll still be doing clubs and dog shelter walks etc . A couch and TV can kill you almost as fast as an addiction
You're assuming you're gonna have money to do all that shit. As far as the last one, you think all your friends and family will retire with you? Everyone else is gonna have their own shit going on. You'll be the odd man out.
just a little something about my buddy, he was born with CP, he never married or had kids. He had a major back operation about 3 years ago, that didn't go so great, but he's been trucking on. He's pretty lucky to make it to 75 pretty much by himself.