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The Lounge>Investing megathread extravaganza
DaFace 11:23 AM 06-27-2016
A place to talk about investing stuff.
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Titty Meat 09:36 PM 02-19-2021
Originally Posted by lewdog:
Yes. Everyone should have one if their income allows them.

It's tax free money in retirement, which will help offset taxable income in retirement drawn from IRAs/401ks.

Even if you could only invest a few hundred dollars per year, it's absolutely worth it.
That's what I thought I've been reading up on it alot since the Gamestop stuff. My friend keeps trying to get me on this Acorn thing. Dont know much about it seems kinda gimmicky figured the smart money would be to tie up into something like a ROTH instead.
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In58men 09:36 PM 02-19-2021
Originally Posted by lewdog:
Yes. Everyone should have one if their income allows them.

It's tax free money in retirement, which will help offset taxable income in retirement drawn from IRAs/401ks.

Even if you could only invest a few hundred dollars per year, it's absolutely worth it.
Max that bitch out @ $6000 per year.
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Titty Meat 09:40 PM 02-19-2021
Originally Posted by In58men:
Max that bitch out @ $6000 per year.
That's what I'm thinking. 25 bucks a pay check that's 50 bucks a month. Really not expensive at all thats my apple Music and netflix subscription + cell phone bill.
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Hammock Parties 09:41 PM 02-19-2021
Originally Posted by Titty Meat:
That's what I'm thinking. 25 bucks a pay check that's 50 bucks a month. Really not expensive at all thats my apple Music and netflix subscription + cell phone bill.
$6000, not $600.

But putting anything in is good.
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lewdog 09:44 PM 02-19-2021
Originally Posted by In58men:
Max that bitch out @ $6000 per year.
Oh I do and have been.

I just know that not everyone can afford that. There's nothing wrong with even a few hundred dollars per year, especially if you're young.

A ROTH IRA is probably the most valuable investment vehicle for middle class earners. You should, however, contribute first to your 401k to get your full employer match (free money). After that, people should look to fund a ROTH.
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Titty Meat 09:46 PM 02-19-2021
Originally Posted by Hammock Parties:
$6000, not $600.

But putting anything in is good.
Yeah that but I'm finally getting my tax return from last year and this years plus with the Biden bucks I would have about 6k I could throw in there
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lewdog 09:46 PM 02-19-2021
I was just looking at my ROTH and I have a mutual fund with T Rowe Price that made 50% in the past year. I thought that was fucking awesome for passive investing.
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Titty Meat 09:47 PM 02-19-2021
Originally Posted by lewdog:
Oh I do and have been.

I just know that not everyone can afford that. There's nothing wrong with even a few hundred dollars per year, especially if you're young.

A ROTH IRA is probably the most valuable investment vehicle for middle class earners. You should, however, contribute first to your 401k to get your full employer match (free money). After that, people should look to fund a ROTH.
I'm pissed that this was never explained to me when I was in college.
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Hammock Parties 09:49 PM 02-19-2021
Originally Posted by Titty Meat:
I'm pissed that this was never explained to me when I was in college.
No one told me shit either.

Financial lifestyle should be a mandatory class in HIGH SCHOOL.

Our educational system is a failure.
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lewdog 09:50 PM 02-19-2021
Originally Posted by Titty Meat:
I'm pissed that this was never explained to me when I was in college.
I went to college full-time for 7 years and never once took a business class for either of my degrees.

I find that sad. I've learned all on my own but it shouldn't be that way.

Does your employer offer a 401k? Many are also offering ROTH 401ks now. Or will you be looking to set this up yourself?
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neech 09:50 PM 02-19-2021
Originally Posted by -King-:
Personal finance and basically long term investment. Now it's basically a reddit thread for quick money and day trading.
I think this thread has all kinds of helpful advice and tips throughout it.

Day trading is part of investing as well, doesn't mean everyone on here does it, I'm just dabbling with my stimulus money from the Govt. with that. Play money i call it.
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Titty Meat 09:51 PM 02-19-2021
Originally Posted by Hammock Parties:
No one told me shit either.

Financial lifestyle should be a mandatory class in HIGH SCHOOL.

Our educational system is a failure.
Dude I said this EXACT same thing to my friend the other night. Hes got a pretty good job and is really good at saving money I was like maybe you need to look into this.
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DJay23 09:53 PM 02-19-2021
Originally Posted by Titty Meat:
I'm pissed that this was never explained to me when I was in college.
Same here. Well maybe not pissed, but disappointed that I wasn't wise to it.

I've gotten a late start on supplemental retirement savings and have already banked a lot. I shudder to think how much I would have if I had started saving at 22 rather than in my 30s.
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Titty Meat 09:53 PM 02-19-2021
Originally Posted by lewdog:
I went to college full-time for 7 years and never once took a business class for either of my degrees.

I find that sad. I've learned all on my own but it shouldn't be that way.

Does your employer offer a 401k? Many are also offering ROTH 401ks now. Or will you be looking to set this up yourself?
I'm starting a new job here shortly and yes they do.
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lewdog 09:56 PM 02-19-2021
Originally Posted by Titty Meat:
I'm starting a new job here shortly and yes they do.
Awesome.

Once you get a list of fund choices we can help you choose some things if you have questions.
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