Junior eng. here who is really confused on what to do with his paycheck. I've heard of things like betterment/vanguard, low cost index funds, bonds, etc. What's the best way to invest money so I can save for the future reliably with peace of mind?
Dont know much about finance or economics in general.
TC: 145k
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1. Create a rainy day fund of 6-9 months of expenses. Mostly cash and money market
2. Put 80% of intended savings in S&P500 and Nasdaq every month. With the rest 20%, buy some brands that you use daily and love (at that time it would’ve been Netflix, Apple, Nike, Google etc).
3. When you have enough savings, buy a house and rent out one/two bedrooms if you are still single.
to better understand risk (which is different from volatility), consider looking at graphs of how cointegrated pairs and return correlations break down in crises; illiquidity premium becomes very expensive during such times, so make sure you can ride out the waves
Most are giving advice and throw out suggestions without ever talking or understanding risk, optionality, Black Swan events, randomness, etc.
1. Kids education bucket even if you don't have kids as of today,like 529 plan.
2.retirement
3. Term life insurance
4. Stock market
5. House
6. Improving your skills
7.Fun and travel
8.health
Happy to know if I missed any bucket.