I am trying to learn how to invest responsibly and properly. Currently, I have a wealthfront account(aggressive portfolio) and 401k. I know nothing about investing that is why I am wholly relying on wealthfront with my money. As my net worth is increasing slowly, I am trying to figure out if there are better options to invest and develop a better understanding of investing. Any pointers and/or advice???? Early 30s/single/no financial goals TC 250k. Net worth 200k #personalfinance #investments
ETFs aren’t for aggressive growth SPY or QQQ. To earn aggressive growth meaning ~20% YoY, you have to learn trading, taxation, finance, and much more. Did for 2 years and got tired of constant worry to stay in front of news.
Buy VOO stocks every month using Robinhood/WeBull apps and forget about those money till you retire.
yea same, im starting with an roth ira, keep an emergency fund, and putting some money aside for risky stocks. dont forget to max out your employer-sponsored plan
Learn about the past bubbles starting from tulip mania.
Fascinating rabbit hole Thanks! but how is relevant to investing?
🦄 mania up until last year. Now them horses join the slaughter house to become mortadella.
I’d recommend to star learning about the subject through books and podcasts. I recommend the book “the simple path to wealth” by J L Collins and the podcast “afford anything” hosted by Paula Pant.
You could do much worse that dumping all your savings into Wealthfront. Really the only downside of that is the 0.25% they charge, but that's likely made up by their tax loss harvesting.
Read “I will Teach You to Be Rich”. Put as much as you can in tax advantages accounts and invest in ETFs like S&P. Increase your savings rate by a lot.
No financial goals? What about a home? General advise: dump half your savings into SPY, the other half into a Marcus by Goldman Sachs CD, and keep at least 6 months of expenses in your checking account.
Is SPY better than using a more diversified portfolio manager like wealthfront?
Dumping half your savings into a CD is extremely conservative. Do that only if you're close to retirement.