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Funkybutt
LIF Adult
Member since 4/15 3049 total posts
Name:
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investments
I, thankfully, don't have to live paycheck to paycheck, but I'm also not particularly savvy when it comes to making more money with what little I have. I'm fairly conservative with my money - checking account, saving account, retirement plan that I allow the financial institution to invest. I'm not at all interested in playing the stock market b/c I don't have the interest to learn it and keep up with it.
Is there anything else you do with your money to try to make more? Interest on my checking/savings accounts are tiny. How much do you keep for emergency funds?
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Posted 9/21/21 11:13 AM  |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: investments
Does your job offer a 403b?
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| Posted 9/21/21 11:20 AM |
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RomeyT
LIF Infant
Member since 1/21 355 total posts
Name:
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Re: investments
Posted by Funkybutt
I, thankfully, don't have to live paycheck to paycheck, but I'm also not particularly savvy when it comes to making more money with what little I have. I'm fairly conservative with my money - checking account, saving account, retirement plan that I allow the financial institution to invest. I'm not at all interested in playing the stock market b/c I don't have the interest to learn it and keep up with it.
Is there anything else you do with your money to try to make more? Interest on my checking/savings accounts are tiny. How much do you keep for emergency funds?
I don’t know how much you have but investments in real estate can prove successful. Even buying a small condo and having someone pay the mortgage can help your retirement outlook.
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| Posted 9/21/21 11:39 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: investments
Posted by Funkybutt
I, thankfully, don't have to live paycheck to paycheck, but I'm also not particularly savvy when it comes to making more money with what little I have. I'm fairly conservative with my money - checking account, saving account, retirement plan that I allow the financial institution to invest. I'm not at all interested in playing the stock market b/c I don't have the interest to learn it and keep up with it.
Is there anything else you do with your money to try to make more? Interest on my checking/savings accounts are tiny. How much do you keep for emergency funds?
You can do CDs and ladder them over time, but even CDs will only get you 1-2% if that.
The best way to get ROI is usually the stock market. You don't need to know a lot about investing or the stock market to invest in small amounts. You can open a YouInvest with Chase (Self Directed Investing) and buy some funds.
Vanguard funds are nice to have, low fees. I like VWINX, its not as risky as some other funds and makes for a good starter investment. It invests in large firms (J&J, Home Depot, Pfizer, Cisco, Bank Of America, etc.)
VIGAX is one of my favorites, a little more risky because it is tech heavy (Apple, Microsoft, Amazon, Facebook, Google, Tesla, etc.) 10k invested in VIGAX ten years ago is now worth about 57k. You can't get that kind of return with any savings or CD account.
Just buy a small amount of either of these two and you can't go wrong in the long run. Of course all investments carry risk. Ask anybody that looked at their portfolios around April of 2020.  But we all made it back and then some.
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| Posted 9/21/21 12:34 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: investments
I would invest in mutual funds. Even something that is just an S&P fund would be good. The other thing that I haven't done but is intriguing is where you can buy into investment properties and get returns that way. Not sure how regulated that is though.
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| Posted 9/21/21 12:56 PM |
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JennP
LIF Adult
Member since 10/06 3986 total posts
Name:
Jenn
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Re: investments
Get a high yield savings account for your emergency fund.
Otherwise, index funds are the best way to go for savings you won't need in the next few years. They have low fees and do overall very well in the long term. Vanguard is very good.
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| Posted 9/21/21 1:50 PM |
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