Stop chasing single stocks, ETFs and Mutual Funds is where its at

[Ezekiel 25:17]

I try telling the young folks but they don't listen. Rather buy designer and a new wipe every 3 years than care about homeownership or retirement. Compund intrest is a real thing and after a few years you can see how quickly it ramps up. Time is the biggest advantage the youth has

Too hard and requires too much discipline for a lot of folks. Is what it is

 

[Arizax2]

Too hard and requires too much discipline for a lot of folks. Is what it is

I agree but once you can automate the process it's literally a set it and forget it situation.

 

[The BasedFather]

If you want to stick with Robinhood they do have a Roth IRA and can do ETFs but I don't think they do Mutual Funds. You can start off with that if you wish. Check out reddit or other places of the folks that uses it to see if it works for you.

Appreciate that bro. Gonna do some digging into it

 

[Tunez]

What about Russell wtf?

 

[Ezekiel 25:17]

I agree but once you can automate the process it's literally a set it and forget it situation.

You got any guides on this?

 

[Ezekiel 25:17]

If you want to stick with Robinhood they do have a Roth IRA and can do ETFs but I don't think they do Mutual Funds. You can start off with that if you wish. Check out reddit or other places of the folks that uses it to see if it works for you.

Yeah I figure reddit is a good place to start.

You not doing a traditional 401k with your company anymore?

 

[HollywoodP]

That Cathie bytch got me taking a bath on a few ETFs

 

[Arizax2]

Yeah I figure reddit is a good place to start.

You not doing a traditional 401k with your company anymore?

No because they offer a Roth 401k. The benefit is the growth is tax free. So when I retire The money I have in my traditional 401k will be taxed when I'm ready to pull it but with the Roth 401k I get it all with no taxes. So i pivoted to a Roth 401k.

My company also allows me to not get tied in with Voya (plan manager). Don't like what they offer and the fees are no good. The returns were trash. My company allows me to use Schwab Self Directed (PCRA). This allows me to manage my own retirement and pick the funds I want and not just what Voya offers. This worked out great for me because I was already in the schwab ecosystem with their other products so I just have all my investments in once place.

 

[Ezekiel 25:17]

No because they offer a Roth 401k. The benefit is the growth is tax free. So when I retire The money I have in my traditional 401k will be taxed when I'm ready to pull it but with the Roth 401k I get it all with no taxes. So i pivoted to a Roth 401k.

My company also allows me to not get tied in with Voya (plan manager). Don't like what they offer and the fees are no good. The returns were trash. My company allows me to use Schwab Self Directed (PCRA). This allows me to manage my own retirement and pick the funds I want and not just what Voya offers. This worked out great for me because I was already in the schwab ecosystem with their other products so I just have all my investments in once place.

Damn a Roth 401k. Yeah imma definitely look into that

 

[Arizax2]

Damn a Roth 401k. Yeah imma definitely look into that

If your job offers a Roth 401k go for it. If. Not you can always open up your own person Roth IRA but it's capped at 7k a year.

 

[ViShawn]

On another note - yall put money into a HSA (health savings account) and invest those funds. Basically a Healthcare focused ROTH

 

[The BasedFather]

Good thread btw. Was never taught this stuff, like damn ma Gonna do a Roth and check out some bonds. Gonna read up before making any moves. Thanks guys

 

[Arizax2]

Good thread btw. Was never taught this stuff, like damn ma Gonna do a Roth and check out some bonds. Gonna read up before making any moves. Thanks guys

This stuff should have been taught in high school. It's low-key one of the reason the Republicans don't rock with social security. The reality is if I can invest the money that's taken out of my check for social security, my whole life I belive I can make out better than whatever ima get from the government when I retire. At the very least, If the government atleast took the SS money and invested in the S&P500 and bet on America companies in the market we wouldn't have an issue of SS being insolvent. It's a risk but I think it's worth betting on......

 

[Fani Willis fan]

subs

 

[QBN]

If you want to keep it really simple, just buy a low fee S&P 500 ETF from Vanguard or whoever and buy shares every month or each time you get paid. Even better if you can automate it. The younger you are, the better you can take advantage of compounding interest over time.