I maintain several investment portfolios across various platforms:
1. Retirement Portfolio: This comprises my 401k, Roth IRA, and rollover IRA accounts, with Fidelity. It's dedicated to long-term assets in which I have a high level of confidence.
2. Separate Long-Term Portfolio, M1: This portfolio mainly consists of long-term ETFs and investments that I plan to hold indefinitely. However, I may make adjustments if I'm dissatisfied with their performance or see the need for changes.
3. Active Portfolio(Fidelity): This dynamic portfolio focuses on market hedges and occasional swing trades in stocks that catch my interest. Currently, it's relatively static as I aim to keep my taxable income lower for this year.
4. Acorns: I use Acorns for Dollar-Cost Averaging (DCA) on a weekly basis. I progressively increase my DCA by 5-10% every 4-6 months. This disciplined approach reinforces financial discipline and curbs impulsive trading. I have a long-term vision for this account and might continue it until retirement, effectively considering it a fourth retirement vehicle. I started with a weekly DCA of $75, and I've now increased it to $125. My aspiration is to reach a weekly DCA of $250 or more for this account.
5. Vacation Account(
@Gloxina ): This portfolio is more aggressive, including swing trades and potentially day trading in the future. It's designated for luxurious travel experiences, such as business/first-class flights and 5-star accommodations. Furthermore, it serves as another alternative emergency backup to my savings.
- My guiding philosophy is 'Don't go broke; plan to go broke.'
Additionally, I maintain a health savings account, and I'm in the process of building out a Webull account. Although I haven't yet finalized its purpose, but it's steadily growing.
In summation, I like to have a backup to my backups.
Having a negative bank account in my mid-20s, while working at Amazon and Uber, lit a fire under me to learn how money works and to strive for more not settling for mediocracy.
But shoot, forget about me, I'm trying pick
@NaijaProdigy Redux mindset when it comes to money and asset allocation.
My pull out game is on-point.