For your savings and 401k? My current job does not offer 401ks so i rolled money into Wealthfront Where are you storing your funds for retiremrnt? Should i move to a high yield savings?
What do you mean by โcurrent job does not offer 401kโ? Are you a salaried employee?
I use Wealthfront. I'm also pretty ignorant and I appreciate the simplicity and the cost is negligible. Set it up a few years ago and currently happy with it
Granted, I use mine for investment and a bit of savings. But mostly investment accounts
Long time use of wealthfront. I have my primary taxable investment account there as well as IRAs. IRAs can't use TLH so .25% advisory fee is a bit questionable. But it still saves you from deciding on and managing allocation of assets if you have a self managed account elsewhere (M1, or Vanguard, fidelity etc.)
Do you go to Tiny Desk concerts?
For 401k/retirement, just use a target date fund (e.g. if youโre planning to retire in 2060, pick that one) with low fees (<0.1%) Also, have you looked into IRA? (Btw, if youโre using HDHP, you can also treat your HSA as a retirement account as well, and you can withdraw them after 65 to spend on anything)
The only thing about retirement funds is they're really designed to be held in retirement (i.e. tax advantaged) accounts. I.e. they'll sometimes have large distributions that can cause you to owe a lot of tax if you're holding them in taxable accounts.
I use a similar service, Betterment. Got my backdoor Roth there + opened a brokerage account in April last year that is still up.
Cancel wealth front n invest in index funds instead as they pretty much do the same for u.
I'm totally ignorant in investing. So incoming dumb question: how do I invest in indexes ? I'll also google this ๐
Open a brokerage in vanguard and buy VTI or VOO