CREATING MILLIONAIRES: POSTERS AIDING WEALTH GROWTH

[Apollo Creed]

25, with 2 retirement vehicles in motion, 10% going towards investments... and a homeowner...

Spoiler

Very strong username to lifestyle correlation . You're going to be incredibly well off in your 30's. I wish I had started when I was 25... the gains breh... .

This is black excellence. This is what I like to see .

Who put you onto game at such a young age, if I may ask?

I bought my house last yr at 25, been doing the 401k stuff for a whilw too, looking at other investment avenues too.

 

[GunRanger]

I do just because I'm weird like that. There's no rhyme or reason behind it. I have accounts at 3 different banks as well, just because whatever "sign-up" bonus was at that bank at the time I needed to open a new account. It'd probably be easier to keep them all in one place, though. And don't get stuck on Vanguard in particular (Sorry I know I plugged Vanguard earlier) there are other brokers that don't have the 3k minimums for Roth. They all offer basically the same product so it's up to you which brokerage you want to go with.

On Betterment, I really have no complaints at all about the service. Just don't expect the kinds of returns I showed in that snapshot. 50% over three years is a ridiculous return and I only earned that because I got lucky and got in when the S&P was on crack (pretty much everybody who was long made money over the last 3 years). Don't get me wrong, Betterment is still a great service and you should definitely sign up, just don't expect 50% returns over the next 3 years.

Nah, I did my research before, and Tony Robbins' book "Money, Master The Game" helped a lot. I knew about Vanguard a while ago. The 3k minimum isnt for the Roth, it's for the index funds. they only have a 1k minimum for the Roth. Plus Vanguard tends to have the lowest fees.


With Betterment, you have the freedom to purchase whatever fund/stock you want, in addition to them picking for you right?

 

[Field Marshall Bradley]

So no one in hear believe in being as liquid as possible?

 

[Dolla$]

Should I split my investments between companies, or just use one? I'm thinking about using Vanguard for my Roth. and Betterrment for the others, since Vanguard has a 3k minimum. And yall making Betterment sound nice.



Dont you have to pay taxes if you withdraw early?

Na i borrowed from it, small payments will automatically be deducted from my check for a period of 5 years or until all is back in my 401k..and the interest that i'll be paying is also going into my account

 

[Dolla$]

So you're 25, with 2 retirement vehicles in motion, 10% going towards investments... and a homeowner?

Spoiler

Very strong username to lifestyle correlation . You're going to be incredibly well off in your 30's. I wish I had started when I was 25... the gains breh... .

This is black excellence. This is what I like to see .

Who put you onto game at such a young age, if I may ask?

I hope that i'm well off in my 30s, i feel like the tortoise racing against the hare seeing how others my age group living this extravagent type life and im doing ok. But my big bro put me on game and seeing my uncle going through financial troubles at an old age made me promise myself to never be old and broke.

 

[BaldingSoHard]

I hope that i'm well off in my 30s, i feel like the tortoise racing against the hare seeing how others my age group living this extravagent type life and im doing ok. But my big bro put me on game and seeing my uncle going through financial troubles at an old age made me promise myself to never be old and broke.

That's actually a very good analogy.

 

[sfgiants]

anyone know anything about gold iras?
i keep hearing about this shyt on the radio

 

[Willie]

Joined the Employee Purchase Program at my job today. Really looking forward to learning about stocks and new ways to flip $$$$$. Big shoutout to The Coli and all you folks in here who are willing to share knowledge.

 

[DrX]

i gotta simple old school investment plan....its called a shoe box

 

[BaldingSoHard]

Joined the Employee Purchase Program at my job today. Really looking forward to learning about stocks and new ways to flip $$$$$. Big shoutout to The Coli and all you folks in here who are willing to share knowledge.

Good shyt man make sure you get on that 401k too. It'll lower your annual tax amount and your company will contribute money for you. It's like getting an instant raise, only deferred.

 

[BaldingSoHard]

i gotta simple old school investment plan....its called a shoe box

Cannot co-sign.
That money would be much better off... pretty much anywhere. Get into an S&P 500 index fund or something if you're risk averse.

 

[MR. SNIFLES]

Cannot co-sign.
That money would be much better off... pretty much anywhere. Get into an S&P 500 index fund or something if you're risk averse.

EVEN A FDIC INSURED SAVINGS ACCOUNT IS BETTER THAN A BOX.

 

[BaldingSoHard]

EVEN A FDIC INSURED SAVINGS ACCOUNT IS BETTER THAN A BOX.

Basically.

 

[Silkk]

To put this graphically, look at this Roth IRA calculator:

Just waiting 5 years in investing in your roth will cost you half a million dollars.

Waiting 10 years will cost you 800k

 

[Silkk]

@BaldingSoHard Is there a max on the number of roth IRAs you can open?