I have about $50k BEFORE TAX money (sign-on) that I wish to invest.
A complete newbie. Just to give you an idea of my knowledge, or lack thereof; I studied 401k last night.
Looking for helpful tips as to invest.
Looking for both long term and short term(5 years).
Please advise.
Edit: how do I access my existing 401k account?
TC: 230K
YOE < 1
Age: 26
#faang #facebook #meta
#google #pip #amazon
#finance #money #investment
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I have been doing this for a while. First thing you need to do is open an account with a brokerage firm. There are several (Charles Schwab, Fidelity, Ameritrade, Robinhood etc.). All of them have to follow the rules and regulations set by FINRA, so I wouldn't worry about which one is safe and which one isn't.
Once you have your account open, you would need to connect it to your bank and then transfer funds over.
Then you either pick index funds (most people will give you that advice), or individual stocks (this is what I do), or bonds etc.
If you want to pick individual stocks, then my sincere advice would be to stick to solid companies that are showing rapid growth and innovation. The companies that you can see doing the same years down the road. This is how I picked AMD six years ago, and TSLA few years after that.
Do not try to trade, because most traders lose money. Pick good companies for the long haul, you will be way better off that way.
If you have any follow up questions, feel free to message me.
Would recommend so a 50-50/60-40 split between crypto and blue chip stocks.
Stocks: salesforce, Epam are at a steal. Or as others mention VOO too
Note this is not investment/finance advise. Do your own research before any kind of investment.
I would suggest start with something simple like 401k pretax, forget about it for a decade and use your paycheck $$ to diversify into the latest crypto/wsb fads.