Hitting the 3k in savings mark pre tax return appreciation!!

[root_eruditorium_org]

How can we make are money grow without touching it tho

This is what always bugs me ... I save like crazy, but the money is just sitting there ... depreciating in value even ... sometimes i feel like i'm being dumb for hoarding all this cash and not doing anything useful with it. keep in mind that i'm completely retarded when it comes to investment, having your money grow passively ... etc. shyt looks like gamblling too me. where would y'all recommend i start ... and like i said remember i don't know ANYTHING, so a lot of terminology y'all use is jargon to me (bonds, mutual funds, etc ... makes no sense to me). keep it as simple as reasonably possible, because sometimes i feel like saving is some sucka shyt i'm sorry to say.

 

[Mr210]

I don't understand people that say this. Having any type of savings near the 3k mark is RARE and GREAT compared to the vast majority of people...trust me, I know. There are a lot of people flexing, but have a shyt ton of financial issues associated with said flexing.

Yep I know a lot of people who are always taking trips...nice house and cars yet they are thousands in debt and barely have anything in savings

 

[root_eruditorium_org]

Yep I know a lot of people who are always taking trips...nice house and cars yet they are thousands in debt and barely have anything in savings

 

[Mr210]

I'm glad I was able to get my degree without ever taking out loans

 

[AlwaysLurkin]

This is what always bugs me ... I save like crazy, but the money is just sitting there ... depreciating in value even ... sometimes i feel like i'm being dumb for hoarding all this cash and not doing anything useful with it. keep in mind that i'm completely retarded when it comes to investment, having your money grow passively ... etc. shyt looks like gamblling too me. where would y'all recommend i start ... and like i said remember i don't know ANYTHING, so a lot of terminology y'all use is jargon to me (bonds, mutual funds, etc ... makes no sense to me). keep it as simple as reasonably possible, because sometimes i feel like saving is some sucka shyt i'm sorry to say.

Im scared I lose money trying to invest in stocks,I opened Ameritrade account but was too shook to actually try anything

 

[BigMan]

Just passed 8k it's litesha

 

[mamba]

Im in that stacking mode too, dumped a high maintanance gf in mid January, ever since then I hav stacked 1.5k in less than two months

You ain't never lied about that, breh. I stack hella money when I'm not in a relationship.

 

[Weaver31]

I could save more if my ex fiance didn't fuk me over.....and if I didn't have wine, weed, coke and mollie habits

 

[NapsOldDroog]

 

[mson]

I was in the same boat as you. I had a money market but felt I could be doing better. I made sure to leave 6 months worth of expenses there (emergency fund) and took out a chunk to invest in a mutual fund.

I have no interest in playing the market, so I am fine with a mutual fund where someone else manages and then takes a bit off the top. My Uncle is against this but the amount of time he puts into investigating which stocks to buy just isn't worth while to me. Its a tradeoff.

A combination of US and international stock plus US and international bonds felt the most safe to me. This is all bundled up under one fund.

If you do go the mutual fund route, make sure you check the out the expense ratio - this is what they are going to take from whatever you make. There are online investment firms which will have much lower expense ratios then a brick and mortar.

Charles Schwaab was going to tax me, whats known as a load fee, JUST TO PUT MONEY INTO THE ACCOUNT. So make sure you keep an eye on that.

The market isn't that hot right now so I actually moved MORE money into my mutual fund account (fingers crossed for the come up).

Ive really only dipped my toe in the pool, so don't think im some Warren Buffet. If anyone wants to sprinkle some knowledge Im all ears

Load fees. I know them well

 

[-DMP-]

I was in the same boat as you. I had a money market but felt I could be doing better. I made sure to leave 6 months worth of expenses there (emergency fund) and took out a chunk to invest in a mutual fund.

I have no interest in playing the market, so I am fine with a mutual fund where someone else manages and then takes a bit off the top. My Uncle is against this but the amount of time he puts into investigating which stocks to buy just isn't worth while to me. Its a tradeoff.

A combination of US and international stock plus US and international bonds felt the most safe to me. This is all bundled up under one fund.

If you do go the mutual fund route, make sure you check the out the expense ratio - this is what they are going to take from whatever you make. There are online investment firms which will have much lower expense ratios then a brick and mortar.

Charles Schwaab was going to tax me, whats known as a load fee, JUST TO PUT MONEY INTO THE ACCOUNT. So make sure you keep an eye on that.

The market isn't that hot right now so I actually moved MORE money into my mutual fund account (fingers crossed for the come up).

Ive really only dipped my toe in the pool, so don't think im some Warren Buffet. If anyone wants to sprinkle some knowledge Im all ears

Why didn't you just go the index fund route instead? less fee's and on par with avg mutual fund performance.

 

[patscorpio]

Check out high interest money market accounts. With money market account, when you put in x ammount of dollars, lets say 2,000 and the limit is 1,000 to open; if you go lower than 2,000 you will get charged. It helpes you save and keep track to make sure you do not drop past 2,000.

thats what my savings account is right now...i think the mininum i have to keep in it is 2500 or 3000 else i get charged

 

[root_eruditorium_org]

Why didn't you just go the index fund route instead? less fee's and on par with avg mutual fund performance.

dawg I remember you gave me some advice a while back (I was asking for advice on how to invest in a separate thread) but my stupid ass can't find it right now. It was really good but hard to understand because like i said some of the terminology went over my head. I want to take what you said and post it in a notepad so I can read it later in greater detail.

 

[#1 pick]

repping nikkas back that rep me

 

[NapsOldDroog]