I'm kind of lost what to set as my financial goal right now and wanted to seek advice 1. I'm a dev in early 20s 2. living in a midwest city 3. single, no kids. planning to stay like this for next 10 years at least 4. maxing out roth 401k 5. renting an apartment with roommates (yeah..I'm living a bit frugal still) 6. everything else goes to savings right now 7. will probably move to some other cities eventually for career growth. probably seattle? I'm not sure what to do from here in terms of financial plans. I do want to save and build passive income. These are options I found after searching on blind and other places: 1. Keep cash until recession and then buy stocks/property? 2. Buy a condo or townhouse nearby with some down payment and rent out (it's much cheaper here than in Seattle) 3. Put money on dividends stocks (the O?) 4. Keep saving so when I move to Seattle and plan to stay for long I could buy a home for myself Does anyone with more experiences have any advices? Would really appreciate it!
You should check out Reddit r/personalfinance. Lots of great resources.
Agree with this. A lot of people have posted there with the same question, you'll find some great advice. In short though, take a look at index funds. Probably the best balance of risk/reward/time spent.
Thank you so much!
Just invest in bitcoin and you will be a millionaire in no time!!!!!!
1. How do you know when it's a recession? Give me your magic mirror. 2. Real estate might be lucrative but lots of work and oscillates by housing demand 3. Dunno maybe 4. Yeah maybe, but why do you want to buy a house in Seattle? I know you were asking for advice from more experienced people (I'm not qualified), but my investment strategy is 1.to keep ~$10k that I can easily access in a high interest savings account, e.g. Ally has 2.2% 2. Dump everything else in index funds. Qqq, voo. (you can do total market like vstax) if risk averse. I also have habit of buying meme stocks, with pretty consistent losses. This is my plan based on assumption that I will be renting rather than buying for a long while
Max out 401k. Go all in on etfs with the rest.
Donât seek financial, medical, or legal advice on Blind. Youâre going to have a bad time.
You might be right..Do you have any other places you go to for those? I just happened to see a lot more people who think about investment here than other places