Curious to get everyone's opinions on how they save/invest money, along with any recommendations and any advice (especially with Crypto).
HappyGilmore
Favorite ways to save/invest money?
4
since most of us are likely earning around or above the 100k mark - generally first priority should be to route most investments through tax advantaged accounts and max out their annual limits:
- HSA (if eligible) - $3,550 pre-tax
- Roth IRA - $6,000 post-tax
- 401k - $19,500 pre-tax (or same amount in Roth 401k which is post tax if that makes sense for scenario)
after I max those out is when I start dabbling around with crypto and other alt investmentsย
- HSA (if eligible) - $3,550 pre-tax
- Roth IRA - $6,000 post-tax
- 401k - $19,500 pre-tax (or same amount in Roth 401k which is post tax if that makes sense for scenario)
after I max those out is when I start dabbling around with crypto and other alt investmentsย
Great advice. You've definitely got to be thinking about tax, and the routes you mentioned above can all help maximize your tax savings. IF anyone wants to invest above and beyond I'd recommend mainly mutual funds/stocks, but dabble a little in BTC if you've got the itch for crypto.ย
I'd be keen on this thread,too๐
Stocks & real estate. Some in CD too
I'm going long on Crypto. I've set up 11% of my paycheck to be set aside for investments and constantly buy crypto and the occasional stocks. I remember after the 2017 bitcoin bull run I thought I missed out, but even if I had bought at the top I would've still 3xed my return had I just kept my funds in until now so I'm sure at some point there will be another bear run only to be followed by another massive bull run shooting bitcoin passed 100k. Obviously, I could be wrong but I really believe at some point in my life Bitcoin is going to be worth a lot more than it is now
Have you seen the PlanB model price targets for BTC? The 2024 price point is $400,000, so there still could be lots of room to grow.ย
ROTH, 401K, Stocks, Crypto and real estateย
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