What is your current Bank Account Balance? (Be Real)

[MarcMan]

I probably got like 50k sitting around in savings doing nothing

Been putting it off but I really need to figure out how to invest in a mutual fund. Personal finance isn't really my forte.

Yeah 50k is a lot to just have sitting around losing value. Mutual funds are a good option if you want the gains without the headaches of picking individual stocks.

 

[acri1]

Yeah 50k is a lot to just have sitting around losing value. Mutual funds are a good option if you want the gains without the headaches of picking individual stocks.

Where's a good place to start with mutual funds? Should I just roll up to my credit union and ask, or look at third parties?

Ideally I'd like something that's safe and that I don't have to manage or worry about much other than when I want to take money out.

 

[Mike809]

5k , but that's my savings account . On my checking account , i got like 50 dollars.
I always put 1,500 away each month.Next month ill be getting my tax return plus
the $1400 from the gov , so ill be putting away 3k.

 

[CACarot]

50k in savings, another savings with 1200

 

[UberEatsDriver]

I started saving money in January. Have over 2K and will have 11K by the end of the year.


Not going to lie the only things that interest me is investing in real estate and having a 401K. Never showed interest to all the other investment options. Just want to make sure when I retire I have a good amount saves to be comfortable and want income to come from a property or two.

 

[winb83]

I probably got like 50k sitting around in savings doing nothing

Been putting it off but I really need to figure out how to invest in a mutual fund. Personal finance isn't really my forte.

shyt you could have doubled that easily in the stock market over the last few weeks. No way in hell would I be sitting on a pile of cash like that. I’d at least put it into bonds or CDs.

 

[posterchild336]

I probably got like 50k sitting around in savings doing nothing

Been putting it off but I really need to figure out how to invest in a mutual fund. Personal finance isn't really my forte.

Make money work for you instead of getting nothing basically off interest while the banks make money off you...last year when the market was good i played with 6 digits in the stock market trading and came out much better than bank..its very risky but you can invest in real estate with down payment use credit to reno a small property and rent to hold with whats about to happen in markets and gain more monthly gain than bank interest and when you sell get a nice chunk of change.... cds, lendingclubs getting higher interest or get creative and invest in yourself in a little business.

 

[intruder]

Bank#1
Checking: $10,049.13
Savings: $100.18

Bank#2
Savings: $5,233.67

Bank#3
Savings: $1,113.15

I'll admit these numbers are a inflated since i just got paid my annual bonus just last week and that was about 7K after taxes. Uncle Sam took a big chunk of my shyt. . I been struggling to save money lately since i now have to support my mom more and more.

 

[acri1]

shyt you could have doubled that easily in the stock market over the last few weeks. No way in hell would I be sitting on a pile of cash like that. I’d at least put it into bonds or CDs.

Make money work for you instead of getting nothing basically off interest while the banks make money off you...last year when the market was good i played with 6 digits in the stock market trading and came out much better than bank..its very risky but you can invest in real estate with down payment use credit to reno a small property and rent to hold with whats about to happen in markets and gain more monthly gain than bank interest and when you sell get a nice chunk of change.... cds, lendingclubs getting higher interest or get creative and invest in yourself in a little business.

I know nothing about investing in stocks and I entered the workforce during the last recession so I'd be scared the stock market would crash and I'd lose all my money

 

[Francis White]

10,544.99 in my chase checking . 2354 in my savings .

 

[Noriega]

$14,850 in savings

$646 in checking

 

[posterchild336]

I know nothing about investing in stocks and I entered the workforce during the last recession so I'd be scared the stock market would crash and I'd lose all my money

You can contact investment groups and they will help you and be conservative with it

 

[hayesc0]

In my checking $1700 I am not ballin by any means.

 

[murksiderock]

Make money work for you instead of getting nothing basically off interest while the banks make money off you...last year when the market was good i played with 6 digits in the stock market trading and came out much better than bank..its very risky but you can invest in real estate with down payment use credit to reno a small property and rent to hold with whats about to happen in markets and gain more monthly gain than bank interest and when you sell get a nice chunk of change.... cds, lendingclubs getting higher interest or get creative and invest in yourself in a little business.

I've thought about this but only a passing thought. I don't have credit cards and don't want any either, plus I don't have great credit. But I'm sitting on a nice pillow, enough so that I haven't worked in two months, don't get unemployment, out about $4k on attorney fees and got less that $1k back on my taxes, so I'm sitting on enough that I've been able to be more comfortable than probably most people...

You think it's a good look to put most of my money in the stock market? I've thought about pulling all my cash from my banks but I haven't been certain whether that would be the right move. I don't have some other business--eventually I think I want to buy a car dealer's license--, so like 90% of my money is in my banks and not earning shyt for me...

I started on the stock market tip a month ago, round this time last month, and followed the recommended 10% approach, more or less. In a month I've made back about $250 net, but I've looked at that shyt and thought if I put more money in, I can earn more money...

I've been conservative because I'm new to it and am deathly terrified of losing money, but what would be your recommendation to someone in my position?

 

[posterchild336]

I've thought about this but only a passing thought. I don't have credit cards and don't want any either, plus I don't have great credit. But I'm sitting on a nice pillow, enough so that I haven't worked in two months, don't get unemployment, out about $4k on attorney fees and got less that $1k back on my taxes, so I'm sitting on enough that I've been able to be more comfortable than probably most people...

You think it's a good look to put most of my money in the stock market? I've thought about pulling all my cash from my banks but I haven't been certain whether that would be the right move. I don't have some other business--eventually I think I want to buy a car dealer's license--, so like 90% of my money is in my banks and not earning shyt for me...

I started on the stock market tip a month ago, round this time last month, and followed the recommended 10% approach, more or less. In a month I've made back about $250 net, but I've looked at that shyt and thought if I put more money in, I can earn more money...

I've been conservative because I'm new to it and am deathly terrified of losing money, but what would be your recommendation to someone in my position?

If you take one thing from the Coli remember this.. do not invest even close to all of your money... only invest in what you can afford to lose ..stock market is high reward high risk vs other investments.. I would start off small I first started with 500, then went to 1500, and practiced traded on a paper account for about a year then put in the minimum for a day trader account which was 25k plus the other funds I had in and when I saw a bit opportunity like beyond meat wired 30k and then another 25k and have a snowball effect.. keep in mind long term investments are taxed less than day trading which you pay a hefty capital gains tax so when tax season comes around you realize that you didn’t make close to what you had on paper.. and that’s off you come out with a profit... one bad day can wipe out your account so do not drop major dollars until comfortable and you learn how the market works ... you can make money short selling when the prices drop and many people bet against stocks and want this to happen so it’s a risk with your money in the market..

Another word of advice get a secured credit card and build your credit... the opportunity you get with good credit is ridiculous.... its better than using cash in many times with the leverage and befits you get