financial advice for a few years into career

Amazon / Eng sisycules
Oct 19 13 Comments

Hi Blind. I'm a few years into my career, just paid off my student loans and have a bit saved up (in the $30k range). I have no clue where to put the money / invest it, and I want up to date advice. One complication is that I may move overseas im 6 months or so (will most likely take a paycut, but this is worth it to me for personal development). I'm wondering what implications that has, if I should leave it in a US bank, invest part of it, etc.... All advice or pointing me to resources is very much appreciated. Thank you.

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TOP 13 Comments
  • Goldman Sachs / Eng 🍎 card
    You should be building your emergency fund that contains 6 to 12 months of expenses. Once that is completed, start investing in passive funds.
    Oct 19 2
    • Amazon / Eng sisycules
      OP
      Why not put all the money in passive funds? Also, I'm assuming you'd keep the emergency fund in a high-as-possible-yield savings account? How much do you keep in checking?
      Oct 19
    • LiveRamp eTij20
      Are you asking why not keep the emergency fund in a market account? Because market accounts can lose value if the economy takes a dump, meaning unemployment rises, and if there’s a chance you lose your job that’s exactly when you don’t want your “emergency” fund losing 40% of its value. Yes to high yield savings. In checking keep enough to cover rent and monthly expenses plus a few grand buffer in case something happens like your car breaks down and you don’t want to wait several days for a transfer.
      Oct 19
  • Google graphicalg
    1. Read https://jlcollinsnh.com/stock-series/
    2. Join bogleheads.org
    3. Avoid financial advisors
    4. Become a millionnaire
    Oct 20 0
  • Cloudera / Eng ryxSJ6
    You should tell us where you’re moving and when you will return if you want specific advice.
    Oct 19 3
    • Amazon / Eng sisycules
      OP
      Either Japan or Europe. I suppose if everything went well I would not plan on returning within 5 years, so we're talking pretty long-term, but I guess if it went poorly maybe I'd return in 2.
      Oct 19
    • Cloudera / Eng ryxSJ6
      Pretty wide open. :) if it was me I would put it in a high yield savings account as an emergency fund until I decided where I would be living long term. https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts
      Oct 19
    • Amazon / Eng sisycules
      OP
      Hahah, to be more specific: germany or japan
      Oct 19
  • SAP olva73
    A trustworthy financial advisor can help you with wealth management.

    Invest it all in 401k / HSA / Ira and then after that, stocks / index funds.
    Oct 19 3
    • Cloudera / Eng ryxSJ6
      Do you actually use a financial advisor? Every one I’ve talked to wanted to take 1% of my net worth every year to invest my money into whatever high load funds they are peddling.
      Oct 19
    • Amazon / Eng sisycules
      OP
      are 401k and ira the same? dumb question i know
      Oct 19
    • Cloudera / Eng ryxSJ6
      They are both tax shelters (Google it) but 401k is pre-tax money and traditional IRA is post-tax money.
      Oct 19
  • LinkedIn rintintint
    Read Bogleheads wiki and www.firetobiz.com/investing-basics
    Oct 20 0

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