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Where is the best place to invest my money? : FinancialPlanning
Main Post: Where is the best place to invest my money? : FinancialPlanning
AITA for not giving my wife money to invest in her "business"
Main Post:
My (31M) wife (27F) is a stay at home mom of our 2 year old. Meanwhile I'm the sole breadwinner of the family. My wife has a friend, also a stay at home mum, who recently got into selling some dietary supplements and is trying to convince my wife to do the same. She claims she makes good money on it. Now my wife is asking me for a $500 initial investment. This whole thing seems like an obvious MLM to me so I said no and that it's a waste of money. Now my wife is mad that I'm trying to stop her from having her own source of income, which is not true, I wouldn't mind her having a part time job, just this particular idea seems sketchy to me. I really don't want to be a controlling husband, I just think this is going to be a waste of our money and her energy. Am I in the wrong here?
Update: My wife has done some reading on the company and agreed that this wasn't a good idea. She told me the conversation with her friend made her realize she wants to come back to work. She felt hurt after coming to me excited about it, just for me to say it was bullshit. I understand, I should have communicated it better. I was too harsh. This is what made me TA, not that I was against investing in the MLM. We'll be thinking of other options for my wife to work from home. Anyway, thank you for all the replies!
Top Comment: Welcome to r/AmITheAsshole . Please view our voting guide here , and remember to use only one judgement in your comment. OP has offered the following explanation for why they think they might be the asshole: (1) objecting to my wife taking money out of our account to invest is an MLM (2) maybe I'm being too controlling as this is her money too and she has the right to do what she wants with it Help keep the sub engaging! Don’t downvote assholes! Do upvote interesting posts! Click Here For Our Rules and Click Here For Our FAQ Subreddit Announcement The Asshole Universe is Expanding, Again: Introducing Another New Sister Subreddit! Follow the link above to learn more I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns. Contest mode is 1.5 hours long on this post.
27 years old, no debt. What's the best way to invest $50k?
Main Post:
Hey everyone,
As the title states, I'm 27 years old, I've paid off all of my student loans and I am currently putting in the maximum 401k amount to hit my company's match. I save a decent amount each month, however the interest rate on the savings is horrible. I currently have about $80k in savings, and I want to put $50k of it into something with a higher return.
I already have about $30k in stock as well, separate of my savings. I would rather not put all of that into the stock, however I am open to any types of investments you think would be a good middle ground between risk and reward. Is it a CD? Bonds? Funds? Etc.
Top Comment:
If you're only putting the maximum amount to reach your company match, you should then max a roth IRA (especially at your age) then go back and max the rest of your 401K. If your company offers it and it makes sense based on your health situation, you may also want to change health insurance to a high deductible health plan that is HSA compatible. Then open an HSA (usually offered by your company though you can open your own) that will allow you to contribute up to $3450 for a single plan or $6900 for a family plan. You can then invest the contributions like you can an IRA or 401K.
So between those three tax advantage accounts, if you still have more money you want to invest, open up a taxable brokerage account. Or if you have something you want to save for (eg. a house), put it into a high yield savings account. You mentioned you're not getting much interest. At the very least, make sure your bank is offering 1.75% and if not, switch to Ally or Discover.
Best way to invest my money ?
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I’m a 20 YO in the military and I have about 30k in my savings right now and I make about 5k a month . My only monthly expense is my phone bill literally. I want to know what’s the best way to invest .
Top Comment:
This is very likely going to get buried under the 30+ comments but, I'd tell you something short and simple man.
It's your money, do what you want with it. What are your goals in life? More money? Business? You wanna work in the military forever, do you want to start a charity? Decide that and then you can decide what you wanna do with your money.
People are rarely going to tell you much else other than "invest", because they've no idea what you may want other than more money.
Also, congratulations on having 20k at twenty, shows you know how to save up!
EDIT: lol, this got so many upvotes I'm actually gonna make a video on it. Thanks guys!
Made a bit of money. How do I invest this?
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My partner just sold her old house so we have ~150k on hand. I'm trying to invest this wisely, but I'm pretty lost on how to do it. I saw that one of the most common advises here is to put it in a HYSA or CD, but could someone walk me through this before I mess it up?
Our bank options are 6 month 4.5% CD, 7 months 4.4% CD, 11m 4.5% CD, 19m 4.3% CD. THEN there's Step up CD, Trade up CD.
My other option I'm considering is just opening a new account with BASK since they have a 4.75% APY.
Any advise/suggestions? What's the restrictions/cons of each of these? Should I do something completely different with this money?
ETA: I think it's kinda weird that I need to state this, but it's probably my fault cause I don't post enough on Reddit. Our finances are shared. It makes no sense to say that it's her money when we sold her old house to live in mine that I have no right or say. Not the kind of advice I'm seeking. Thanks. Before anyone adds anything else to that, we're both seeking avenues of investment, etc.
We're mid 30s, own a house, 2 cars, minimal loans (under 300k left I think). We have no plans for the money at the moment, but we'll probably use it to remodel if anything else. Currently just an 'emergency fund'.
Top Comment: Marcus by Goldman Sachs has a 10 month CD that pays over 5% interest
Where do you invest your money
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Hi guys, hope you are all doing great. I have a question, what is your secret of investing money or at least how do you invest your money. I'm not taking about "invest in you" like gym, health etc.. I'm 21 years old and I want to start investing as soon as possible but I have no idea where to start or from where to learn. Thank you for your help and I hope you have a great day.
Top Comment: My retirement investments go into a 457 and a Roth IRA. For non-retirement investing, people use a "taxable brokerage" account, usually with Fidelity, Vanguard or Charles Schwab (or perhaps even an app like Robin Hood). Within that account, you can buy any type of investment such as stocks, bonds, money market, mutual funds, ETFs, etc. The easiest way to gain wealth is to invest on a regular basis into "index funds". Do not by cyrpto. Given all of that, I recommend you study up on these topics and make sure you understand them, then you'll be ready to ease into investing. dollar cost averaging index funds (VOO is my fave and a good example) 401k vs Roth IRA vs taxable brokerage account compounding interest basic budgeting (to make room each month in your income/expenses to invest)
How to actually make money with money?
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Hi,
I’ve been thinking about this for the longest time now, you might read this post, you might not.
Many people say in order to become rich, you need to save & invest, work hard & never give up. That’s cool & all but then what? You save & invest where? You work hard & don’t give up, you get your money up and then what? Where do you invest it? How do you actually make money out of money?
You see all of these people on social media making money like it’s nothing, and it comes to a point where everyday you live feels like torture because you don’t feel like your doing enough.
You might not take this post seriously, my words may seem only like words but I know that people know this feeling, this feeling of hunger you have to make yourself & your family proud.
Anyways, I thank you for your time & wish you a wonderful day, any input would be greatly appreciated.
Top Comment: Use as much of your money to buy things that go up in value (index funds, primary residence, HYSA) as possible. Conversely, use as little of your money to buy things that go down in value (cars, debt payments, sneakers, jewelry, boats) as possible. Also, don’t use debt to fuel the illusion of wealth.
How do you learn to invest
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Hey, I’m an 18 year old in college with a part time job who’s looking to start investing, I’m not into all that get rich off investing bullshit and make money quick. I’m looking to create a good solid portfolio and learn to earn money over long periods of time to grow a retirement fund later in life. I’m incredibly new to investing and was curious what’s the best way to learn how to research companies and how to learn how to build a long term portfolio. I’m sure everyone here started somewhere and did something to learn so I’m more curious what’s the best way to learn.
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