Originally Posted by lewdog:
Yes. Everyone should have one if their income allows them.
It's tax free money in retirement, which will help offset taxable income in retirement drawn from IRAs/401ks.
Even if you could only invest a few hundred dollars per year, it's absolutely worth it.
That's what I thought I've been reading up on it alot since the Gamestop stuff. My friend keeps trying to get me on this Acorn thing. Dont know much about it seems kinda gimmicky figured the smart money would be to tie up into something like a ROTH instead. [Reply]
Originally Posted by In58men:
Max that bitch out @ $6000 per year.
That's what I'm thinking. 25 bucks a pay check that's 50 bucks a month. Really not expensive at all thats my apple Music and netflix subscription + cell phone bill. [Reply]
Originally Posted by Titty Meat:
That's what I'm thinking. 25 bucks a pay check that's 50 bucks a month. Really not expensive at all thats my apple Music and netflix subscription + cell phone bill.
Originally Posted by In58men:
Max that bitch out @ $6000 per year.
Oh I do and have been.
I just know that not everyone can afford that. There's nothing wrong with even a few hundred dollars per year, especially if you're young.
A ROTH IRA is probably the most valuable investment vehicle for middle class earners. You should, however, contribute first to your 401k to get your full employer match (free money). After that, people should look to fund a ROTH. [Reply]
Originally Posted by Hammock Parties:
$6000, not $600.
But putting anything in is good.
Yeah that but I'm finally getting my tax return from last year and this years plus with the Biden bucks I would have about 6k I could throw in there [Reply]
I was just looking at my ROTH and I have a mutual fund with T Rowe Price that made 50% in the past year. I thought that was fucking awesome for passive investing. [Reply]
Originally Posted by lewdog:
Oh I do and have been.
I just know that not everyone can afford that. There's nothing wrong with even a few hundred dollars per year, especially if you're young.
A ROTH IRA is probably the most valuable investment vehicle for middle class earners. You should, however, contribute first to your 401k to get your full employer match (free money). After that, people should look to fund a ROTH.
I'm pissed that this was never explained to me when I was in college. [Reply]
Originally Posted by -King-:
Personal finance and basically long term investment. Now it's basically a reddit thread for quick money and day trading.
I think this thread has all kinds of helpful advice and tips throughout it.
Day trading is part of investing as well, doesn't mean everyone on here does it, I'm just dabbling with my stimulus money from the Govt. with that. Play money i call it. [Reply]
Originally Posted by Hammock Parties:
No one told me shit either.
Financial lifestyle should be a mandatory class in HIGH SCHOOL.
Our educational system is a failure.
Dude I said this EXACT same thing to my friend the other night. Hes got a pretty good job and is really good at saving money I was like maybe you need to look into this. [Reply]
Originally Posted by Titty Meat:
I'm pissed that this was never explained to me when I was in college.
Same here. Well maybe not pissed, but disappointed that I wasn't wise to it.
I've gotten a late start on supplemental retirement savings and have already banked a lot. I shudder to think how much I would have if I had started saving at 22 rather than in my 30s. [Reply]