I'm 28. My total comp is 340 (not amortizing sign-on or refreshers etc. otherwise it's closer to 390) My hope is this comp will grow whether I choose to stay here or not. I have never invested my money. ESPP? Very little. 401k? Just started (I know, I know). I have a good deal of savings but it's just in the bank (in my checking account, believe it or not). I see people here on blind making money on crypto or taking big bets on real estate. I feel like such a chump when it comes to this because the inflation alone is going to eat away at what I make. I've never had a diversified portfolio and barely know how to navigate the investment portals. My fear is that after a number of years I will get severely burned by this laziness/ignorance because the market may not be as hot (despite how invincible we engineers may currently feel). Please advise what I should do to ensure a safety net and wealthier future. I'd love to hear how you stay financially savvy and a ramp up plan to get better and more aware at money management. I'm not risk averse but at the same time I would be very hesitant in following advice that goes like "Go all-in on Ethereum bruh". Also, please don't make this post about comp/level (I only mentioned age/comp because I thought it was critical for a meaningful discussion). If you really feel the urge, then PM me for details. I sincerely want to learn about your journey and any advice you may have for me.
Betterment is the best for you
Find a girl, settle down, have kids and you won't have to worry about savings ever again.
and wait till she runs away with half your money! đ
Really? I ask for financial and ur first response is throw shade?
I appreciate it will look into it right now!
Guy who makes 400k is distressed about his financial future. Classic For the record, I make about the same. I spend freely without a care and still can put away $100k, and I just bought a house to boot. Youâll be fine man
Not tallying. Are you tax exempted? ;-)
Are you in Seattle?
What did you do to get 340k TCT so young? Do you have a very specialized skill set? I am 26 and want to increase my comp to the 300k+ level
Move to the bay.
No special skills nothing jawdropping about my background. Very very vanilla I'm just selective about the projects I work on. Having some control over the exposure has helped me do better than I had expected
I am in the bay and TC is not even 150K
Great troll
How about giving away your money to some charity?
I do give to charity but that's just like $1k per year. I haven't aggressively searched for something that's deeply meaningful to me tbh.. but my goal isn't to flush the money it's to grow it to sufficiently pad hard times
You can "invest" in a better world through kiva.org
if you make that much, you can easily afford a financial advisor.
What's a good way to start exploring this option. How should I do my research?
Skip advisors stealing your money. Index funds, Bogleheads wiki. Itâs a few hours of reading and youâre ready to invest and rest â < 4 hours of maintenance a year afterwards.
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Start maxing your 401(k), but the S&P 500 (VTSAX or VOO)
Maxed it. Will looking into the index funds you just mentioned. Thank you!