Financial Independence/Early Retirement
#121
https://www.acorns.com/
Anyone have experience with this? Cool concept, and automation is nice. They've been pushing hard on the advertisements.
Any gotcha's?
Anyone have experience with this? Cool concept, and automation is nice. They've been pushing hard on the advertisements.
Any gotcha's?
https://www.policygenius.com/blog/be...e-investments/
#122
https://www.acorns.com/
Anyone have experience with this? Cool concept, and automation is nice. They've been pushing hard on the advertisements.
Any gotcha's?
Anyone have experience with this? Cool concept, and automation is nice. They've been pushing hard on the advertisements.
Any gotcha's?
As for the rest, you can invest directly with companies like Vanguard in those same index ETF and not have the monthly fee. Note, they tell you the etf fees are seperate.
That said, the concept is interestingly similar to the old savings account concept some of us grew up with. A little over a long time = a lot. In this case, given the market the = could be less.
Just my thoughts.
#123
Boost Czar
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
because who wants pre-tax contributions that are easy, when you can invest chump change post-tax and get taxed on it again!
ugh, I've lost about $10K in my IRA in a year's time. why did I click this thread, then go look?!
ugh, I've lost about $10K in my IRA in a year's time. why did I click this thread, then go look?!
Last edited by Braineack; 02-16-2016 at 01:17 PM.
#126
SADFab Destructive Testing Engineer
iTrader: (5)
Join Date: Apr 2014
Location: Beaverton, USA
Posts: 18,642
Total Cats: 1,866
I'm trying to start a savings plan for a downpayment in the next 5 years. I invest as much as my employer will match in my 401k but am looking into other savings/investment vehicles.
#128
I think I originally set up my Vanguard with a $1000 dollar deposit into a 2050 fund or something along those lines. You can use your Vanguard as a mini bank, deposit money in there however you can until you get to the minimum to buy into a fund. Once you get a fund set up you can automate however much you want, $100 a month, $500 a month, etc.
#129
SADFab Destructive Testing Engineer
iTrader: (5)
Join Date: Apr 2014
Location: Beaverton, USA
Posts: 18,642
Total Cats: 1,866
I started a separate savings account to direct deposit a portion of my paycheck into, when I reach the investment minimum I'll probably transfer it to a Vanguard index fund.
#132
Out of the 5 or so mutual funds i have, Vanguard growth index and Selected Funds (sel am shares) have done the best. I did a one time deposit to each right before the tech bubble burst. It took some time to recover from that. Since then, the two above have weathered just about every market down turn.
#135
2 Props,3 Dildos,& 1 Cat
iTrader: (8)
Join Date: Jun 2005
Location: Fake Virginia
Posts: 19,338
Total Cats: 573
ETrade does a thing where they take the cash balance of your brokerage account and (daily) put it into an interest bearing account called a "sweep" account. it's automatic and, i'm sure, very low interest, but at least it aint sittin idle while you wait.
#137
So basically growing up a poor immigrant I have issues with spending money that I have, I could not have shiny things when I was young so want shiny things now. My wife is an American Air force brat with parents that never had a budget. To curtail that we hide money from ourselves.
1. We only keep enough in our Checking account to pay monthly bills. Only use CC's with like 2 or 3% returns for any purchases and pay them off monthly.
2. The wife and I have a savings account in Ally since it has a good return. Pump money into it from every paycheck automatically and every time it reaches 10k move it to Fidelity and buy moar Vanguard total market funds.
3. We both do about 10% to our 401k. Should do moar but meh.
1. We only keep enough in our Checking account to pay monthly bills. Only use CC's with like 2 or 3% returns for any purchases and pay them off monthly.
2. The wife and I have a savings account in Ally since it has a good return. Pump money into it from every paycheck automatically and every time it reaches 10k move it to Fidelity and buy moar Vanguard total market funds.
3. We both do about 10% to our 401k. Should do moar but meh.
#138
I will chime in with something appropriate to the conversation that may help some in their mid-20's or younger but is already too late for others... join the military.
Specifically, if you have a college degree, join as an officer. If you can get a ROTC scholarship or acceptance to an academy or officers school and be commissioned by 23, with guaranteed promotion and yearly raises, retirement as an O-4(Major/LCDR) or O5(LtCol or CDR) at the 20yr mark with a guaranteed paycheck forever, plus cheap medical insurance for life, and the unlimited bennies of being a veteran, having base access, social networking, friends everywhere, etc... you're not doing yourself any favors by not looking into it.
If you ever get stationed in a state with no income tax, get a drivers license and register to vote there... and never pay state income tax again no matter where they send you. All Naval Aviators are residents of either Texas or Florida for that very reason.
If you manage to stay single, you'll be downright rich at the end of 20yrs if you're smart and don't buy a new M3 every time they offer it in a new color (Air Force ****).
Sure, there are plenty of downsides, including deployments, lots of moving, tough on families, long hours, etc... but **** man, 40 is the new 30. I come from seriously excellent genes and barring catastrophe, should live to 100 and still slayin' it in the bedroom. I will be retired from the Navy in July of 2020 at the age of 43, and collect +/-$40k yr right away for doing nothing. Yes, $40 ******* thousand dollars a year as long as I'm breathing... and I even get a raise on that every year too, though it's not very much.
Yup, I'll need to get another job and work for another 15 or so, but as a retired military guy, just about anybody will pay me $75k yr to do just about any damned thing just because. Don't get me wrong, we save a ****-ton of money, and my wife goes back to work full-time next year as my youngest hits 1st Grade and can now ride the bus to/from with her sister. Here's another helpful life hint from a Navy guy...MARRY A ******* NURSE, THANK ME LATER.
Specifically, if you have a college degree, join as an officer. If you can get a ROTC scholarship or acceptance to an academy or officers school and be commissioned by 23, with guaranteed promotion and yearly raises, retirement as an O-4(Major/LCDR) or O5(LtCol or CDR) at the 20yr mark with a guaranteed paycheck forever, plus cheap medical insurance for life, and the unlimited bennies of being a veteran, having base access, social networking, friends everywhere, etc... you're not doing yourself any favors by not looking into it.
If you ever get stationed in a state with no income tax, get a drivers license and register to vote there... and never pay state income tax again no matter where they send you. All Naval Aviators are residents of either Texas or Florida for that very reason.
If you manage to stay single, you'll be downright rich at the end of 20yrs if you're smart and don't buy a new M3 every time they offer it in a new color (Air Force ****).
Sure, there are plenty of downsides, including deployments, lots of moving, tough on families, long hours, etc... but **** man, 40 is the new 30. I come from seriously excellent genes and barring catastrophe, should live to 100 and still slayin' it in the bedroom. I will be retired from the Navy in July of 2020 at the age of 43, and collect +/-$40k yr right away for doing nothing. Yes, $40 ******* thousand dollars a year as long as I'm breathing... and I even get a raise on that every year too, though it's not very much.
Yup, I'll need to get another job and work for another 15 or so, but as a retired military guy, just about anybody will pay me $75k yr to do just about any damned thing just because. Don't get me wrong, we save a ****-ton of money, and my wife goes back to work full-time next year as my youngest hits 1st Grade and can now ride the bus to/from with her sister. Here's another helpful life hint from a Navy guy...MARRY A ******* NURSE, THANK ME LATER.
#140
Yes; they'll even take a 36 year old with a cranky knee.
They won't take a 37 year old in perfect health though.
If I choose to retire at 38 years old as a Major, I can start collecting my $36k/year at age 50. If I stick around and retire as a LTC at 43 years old, then I get to start collecting my $40k+/year immediately.
Sam is right. Believe in Sam.
I didn't marry a nurse, though; I married an exceptional business woman. She's not great with money, so she gives me her paycheck and in return, I give her an allowance.
I never thought retirement could look so "reachable".
They won't take a 37 year old in perfect health though.
If I choose to retire at 38 years old as a Major, I can start collecting my $36k/year at age 50. If I stick around and retire as a LTC at 43 years old, then I get to start collecting my $40k+/year immediately.
Sam is right. Believe in Sam.
I didn't marry a nurse, though; I married an exceptional business woman. She's not great with money, so she gives me her paycheck and in return, I give her an allowance.
I never thought retirement could look so "reachable".