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Forum » Savings Accounts are a stupid tax (srs)
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Thread: Savings Accounts are a stupid tax (srs)

post 1628226873 01-11-2021, 08:42 AM
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#31
  1. 2RDEYE
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  1. 2RDEYE
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Originally Posted By cookoodbrah⏩
im not finacially literate but i see alot of scam advisors on youtube who are saying having money not doing anything is a bad thing,

while encouraging them to invest in there own portfolios while they are going broke due to covid
yeah it's not really good advice with people who don't have a decent emergency fund + savings. but if ur an adult with no or a very small emergency fund or savings then wtf have u been doing with ur life lol
There is only one Hell: the one we live in now.
post 1628227043 01-11-2021, 08:44 AM
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#32
  1. jasticus
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  1. jasticus
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This is why btc replaces banks get with the times
post 1628232873 01-11-2021, 09:53 AM
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#33
  1. MikeLowrrrey
  1. MikeLowrrrey
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Originally Posted By ReadyToLift2019⏩
VOO. Will seem like a waste of time/very slow growing until it doesn’t. Make this 50% of your portfolio aka your core position.

Take the remaining 50%, depending on your timeline which I’m assuming you’re a younger man and have quite a while, and use half of it to buy solid good growth single stocks (I currently only hold Apple) but remember you pay taxes on all of your gains from stock you sell each year. This is why I’m down to only Apple, and I never sell. Currently holding 850 shares at a cost basis of $30 per share this way

Take the remaining 25% and buy other sector ETFs or mutual funds, preferably ETFs. I have made a lot of damn money with FBGRX personally but use MorningStar (it’s free) to research and find the very best of the best

Continue to contribute equally to these funds over the next 20 years and then find me and buy me a car (which will be maybe 1.2% of your gains by then) as a thank you
I have a ton of reading to do. I'm thinking I start off small like $200/month in VOO or better yet $500, not sure yet. As for solid growth, Apple? Maybe Tesla? Idk yet.
post 1628233923 01-11-2021, 10:03 AM
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#34
  1. Decathletebrah
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  1. Decathletebrah
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Originally Posted By MikeLowrrrey⏩
Can you recommend any good sources on investing?
Go read The Bogleheads′ Guide to Investing. It's pretty much the key introductory user's guide to passive investing.
Now a swimmer brah (backstroke and medley)

100m back LC: 58.48s
200m IM LC: 2:10.67
post 1629536043 01-24-2021, 10:48 AM
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#35
  1. Jkm94
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No idea where to invest first.

Too many options, 0 action
post 1629536293 01-24-2021, 10:50 AM
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#36
  1. solidus2k3
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yea it sucks
brb 1% rate
brb taxed
effective rate even lower not including inflation
brb cuck'd
<HTC>
post 1629536803 01-24-2021, 10:56 AM
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#37
  1. MountainLion84
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Bank products are for the dumb and ignorant


lol@mutual funds too when an ETF does the same thing with a much smaller fee.
post 1629537293 01-24-2021, 11:02 AM
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#38
  1. Fozzy13
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Originally Posted By EDcellent⏩
So I'm currently saving for a house, instead of just letting it pile in a savings account, where and who should I speak to about putting it to better use?
Not many options unless you are willing to hold off buying a house if the market dips until you are able to recover your losses.

Buttheres always promos you can take advantage of...open accts for bonus $$, the net will be a decent % return but just amke sure you follow the stipulations so you get the bonus
n4l
Rayaarito
fappin
r32gojirra
post 1629543293 01-24-2021, 12:17 PM
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#39
  1. Jkm94
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Originally Posted By solidus2k3⏩
yea it sucks
brb 1% rate
brb taxed
effective rate even lower not including inflation
brb cuck'd
You pay banks to keep your money 'safe'.
post 1629544003 01-24-2021, 12:25 PM
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#40
  1. alphagorilla
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Originally Posted By MikeLowrrrey⏩
I have a ton of reading to do. I'm thinking I start off small like $200/month in VOO or better yet $500, not sure yet. As for solid growth, Apple? Maybe Tesla? Idk yet.
I’m personally putting in 100 a month on VOO

Got 8 Tesla stocks around 420
Too the moon
Brazilian Crew [<O>]
Keto(since 11/11/2011)
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