How to handle investing now that you can invest?

Amazon
VocSlfCrit

Go to company page Amazon

VocSlfCrit
Dec 15, 2019 4 Comments

Let's say you're now doing pretty well for yourself now. You're doing the 401K thing, you have some rollover IRAs, and you have enough to invest that it matters how you invest it.

My background is not finance or investment. I have been following basic advice. It is not optimal but it is better than doing nothing. Minimizing tax burdens and actively managing investments is a bit beyond me right now.

I am maximising my traditional 401K contributions and am investing surplus income in a few things including Betterment. Casual conversations have me wondering if a backdoor Roth would be good. I looked into getting an investment advisor and found their sales tactics to be pushy in their fees to be very high.

Do you have any recommendations? Should I renew my interest in getting an investment advisor?

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  • Google / Eng
    sqrt(-1)

    Go to company page Google Eng

    BIO
    Top Contributor or GTFO
     sqrt(-1)
    Read "The Simple Path to Wealth" by JL Collins.
    TL;DR: Just buy VTSAX
    Dec 15, 2019 1
  • New
    oeeL53

    New

    oeeL53
    Might as well get some advice at least once and make up your own mind. Ideally find someone via referral and who deals with SWEs regularly. They will at least be able to advise on minimising tax. Avoid active management due to the fees, unless you’re a multimillionaire where they might be able to make a difference.

    If in doubt, keep some cash and put the rest in index funds until you can find something worth investing in.
    Dec 15, 2019 0
  • Uber
    cool-int

    Go to company page Uber

    BIO
    I coach people for behavioural interviews at high tech companies like Amazon, FB, Pinterest etc.
     cool-int
    It's very simple - maximize retirement accounts. Invest in low cost index funds and forget until retirement. Pay tax when you withdraw. To find out when you can retire use a retirement calculator like https://chalkyourfuture.com/home/retirement-savings-and-cash-flow-during-retirement-calculator/
    Dec 15, 2019 0