Need Help with Deploying My Savings
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- Posts: 9
- Joined: Tue Mar 21, 2023 6:12 pm
Need Help with Deploying My Savings
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Last edited by TheYoungestEngineer on Sat Dec 30, 2023 12:11 am, edited 1 time in total.
- retired@50
- Posts: 12821
- Joined: Tue Oct 01, 2019 2:36 pm
- Location: Living in the U.S.A.
Re: Need Help with Deploying My Savings
A few thoughts come to mind after reading your post - Also, welcome to the forum.TheYoungestEngineer wrote: ↑Tue Mar 21, 2023 6:24 pm
Thank you so much everyone for your help and assistance.
1. I'd hit pause on the house idea. The SF Bay Area is way too expensive for someone with your income, unless you're willing to commute 100 miles or live in a chicken coop.
2. Also, I'd cease the individual stock picking activity. Consider selling the individual stocks, harvest the loss for the future tax write-off and put the proceeds into a sensible total stock market index fund like VTI.
3. Make a plan for how you intend to invest. There is a wealth of knowledge in this forum and on the wiki pages. I urge you to spend some time reading and learning about investing the "Boglehead" way.
See links:
https://www.bogleheads.org/wiki/Getting_started
https://www.bogleheads.org/wiki/Boglehe ... philosophy
Regards,
If liberty means anything at all it means the right to tell people what they do not want to hear. -George Orwell
- arcticpineapplecorp.
- Posts: 15080
- Joined: Tue Mar 06, 2012 8:22 pm
Re: Need Help with Deploying My Savings
You have some competing goals like starting a business or buying a home. Money you might need in the short term you can't take risk with. So you have to think carefully about what portion of this money you won't touch for the long term. That part can be invested. Have you considered writing up an investment policy statement?
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions |
Re: Need Help with Deploying My Savings
I can't help with the items you request feedback on.
What I think of your situation is that you are young. And, with some reasonable decision making, you have a bright future.
My advise is to spend some time to learn the basics of personal finance and personal investing.
Here is a place to start: https://www.bogleheads.org/wiki/Getting_started
The principles are simple. Following the principles requires a bit of discipline.
What I think of your situation is that you are young. And, with some reasonable decision making, you have a bright future.
My advise is to spend some time to learn the basics of personal finance and personal investing.
Here is a place to start: https://www.bogleheads.org/wiki/Getting_started
The principles are simple. Following the principles requires a bit of discipline.
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- Posts: 9
- Joined: Tue Mar 21, 2023 6:12 pm
Re: Need Help with Deploying My Savings
Thank you so much everyone for the kind replies. Clearly I have a lot of reading to do. Will follow up with another post down the road once I've read some strategy.
Really value all of you for taking time to post valuable information and links. Next post will include portfolio breakdown strategy.
Really value all of you for taking time to post valuable information and links. Next post will include portfolio breakdown strategy.
- retired@50
- Posts: 12821
- Joined: Tue Oct 01, 2019 2:36 pm
- Location: Living in the U.S.A.
Re: Need Help with Deploying My Savings
Glad to read that you're not discouraged, and are willing to engage. Some youngsters come here looking for hot stock tips - and are disappointed.TheYoungestEngineer wrote: ↑Tue Mar 21, 2023 7:26 pm Thank you so much everyone for the kind replies. Clearly I have a lot of reading to do. Will follow up with another post down the road once I've read some strategy.
Really value all of you for taking time to post valuable information and links. Next post will include portfolio breakdown strategy.
Not to pile on, but here's some additional reading by one of the best financial authors around. William J. Bernstein "If You Can".
Regards,
If liberty means anything at all it means the right to tell people what they do not want to hear. -George Orwell