happyhunter

spittin' sunshine

Valued Contributor

Investing...where the F do I start?

Hi squad!

Haven't been on here in months because I have been too busy crushing my goals and rising the ladder to #1 in my small company (HOLLA!). With all of that success, I am now out of debt and want to start investing, but it is a completely foreign world to me. I figured I'd reach out on this network for advice as many of you are crushing life and probably have much more experience with investments and setting yourself up to have a happy retirement. I am currently reading a Tony Robbins book on money but honestly I still have no idea where to start; this shit doesn't interest me, I don't look at this as "fun" as some people do, and my brain does not compute finance stuff whatsoever. I just want to make a lot of money off of investments so I can retire to Europe and sugar mama hot young Italian men. Where do I start?!

Given the state of the world also is now a good time to even start investing? Any advice is appreciated!

17

38 comments

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SaaSsy

Politicker

6

AE

Congrats, awesome to hear! If you're willing to put in a minimal amount of work to educate yourself, then I have a few suggestions. If you aren't because it's completely uninteresting to you, ask for financial advisor recs from trusted people (ensure they are vetted and provide you with performance, understand your appetite for risk, etc.).

Start with reading a Random Walk Down Wall Street (it's old, but solid advice for a lay person). Vet your companies. Personally, I have loved working with Schwab over the years. Diversify - max out 401k, Roth IRA contributions through work if you can. Mutual funds for stability, security, not wanting to pay attention except for a few times per year. Picking ind. stocks is a different beast and frankly, if you don't find it fun and aren't willing to spend a lot of time, don't. Remember you're at a disadvantage and as soon as news hits the WSJ or Barron's, it's already old news because firms have the analysis capability to crush any individual investor.

Sunbunny31

Politicker

5

Sr Sales Executive 🐰

I have NEVER met anyone who regretted maxing out their 401(k). It's also "free" money if your company matches!

happyhunter

Politicker

2

spittin' sunshine

Awesome thank you for the feedback!

JDialz

Politicker

1

Chief Operating Officer

Your last point is very true. By the time it’s scrolling across MSNBC or Yahoo! Finance I’ve already traded on it an hour ago.

SaaSyBee

Politicker

5

Founder

Now is a fantastic time to start investing. Personally, I put most of my money into Index Funds (VTSAX specifically). If you have any companies you believe in, you can put money into them individually. But that's usually a riskier move.

braintank

Politicker

5

Enterprise Account Executive

That's my fund of choice too.

TennisandSales

Politicker

5

Head Of Sales

YOOO shout out to VTSAX!

happyhunter

Politicker

1

spittin' sunshine

Do you do the ETF or Mutual Fund version of the VTSAX?

TennisandSales

Politicker

2

Head Of Sales

mutual fund. but I would not be opposed to the ETF version if thats all you can get access too.

BostonHound

Opinionated

1

Enterprise BDR

What do you use to invest into VTSAX? Not seeing on Robinhood (yes, I use Robinhood, sue me😂)

SaaSyBee

Politicker

1

Founder

I use Robinhood too! But for VTSAX, I have a Vanguard account.

happyhunter

Politicker

1

spittin' sunshine

Do you invest in multiple Vanguard funds or use it primarily for VTSAX?

SaaSyBee

Politicker

2

Founder

For right now, I just do VTSAX for everything.

happyhunter

Politicker

1

spittin' sunshine

Thanks @SaaSyBee! I will for sure do exactly that. I've been recommended that by a few folks here now so def appreciate the advice!

Gasty

Notable Contributor

5

War Room Community Manager

In reverse order of priority:

8) Series A Startups
7) Bitcoin
6) Gold
5) Real Estate
4) Mutual Funds
3) Vanguard ETFs
2) Index Funds
1) Yourself

happyhunter

Politicker

0

spittin' sunshine

Yes everyone has been telling me Vanguard is the way to go so I will def start there. Thank you! And also sending myself to an entrepeneur/mindset conference later this year so def big emphasis on number 1. :)

braintank

Politicker

4

Enterprise Account Executive

Invest in low cost vanguard ETFs. VTI or VOO are best bets. Just contribute regularly and don't touch it.

CuriousFox

WR Officer

6

🦊

Not touching is hard 😏

1nbatopshotfan

Politicker

3

Sales

Read John Bogles Little Book of Common Sense Investing.

Hop on the message boards that have grown out of that. Index funds and dollar cost averaging are undefeated.

happyhunter

Politicker

0

spittin' sunshine

Thanks! I'll add it to my book list

TennisandSales

Politicker

2

Head Of Sales

please please please. read "the simple path to wealth" by JL Colins. it changes my life when it comes to investing.

happyhunter

Politicker

0

spittin' sunshine

Thank you I will for sure add that book to my list!!!

TennisandSales

Politicker

0

Head Of Sales

awesome! let me know what you think

Filth

Politicker

2

Live Filthy or Die Clean

I talked to someone who I know is well off and I got introduced to their money person. Best move I ever made b/c like you, I don't have the interest in the investing game, but I know I need that money to passively work for myself and my family's future.

Use those sales skills to network and vet a broker/Financial Advisor you friends or family already trust. Ideally it's not a friend or a family member, you need some distance in this relationship.

Best of Luck and Congrats on all your hard work and success. Happy Hunting!

braintank

Politicker

3

Enterprise Account Executive

If only recommend this if they are a fiduciary (CFP). If you're working with someone at a broker they're likely just taking a % to invest in mutual funds or ETFs, which you can do yourself for free.

My wife has an inheritance from a deceased parent. It was being "managed" for her for years. When we got married and combined finances I started combing through statements. The managers had most of her money parked in high fee, under performing funds that they were invented to invest in.

Called them up, chewed them out for taking advantage, and was able to get some of the fees back. Reinvested in simple low cost funds (schd, schb, schv, spyx) and am getting better returns with no fees.

Long story short, make sure you're working with an advisor, not a salesperson.

Filth

Politicker

1

Live Filthy or Die Clean

Good point on the fees.

happyhunter

Politicker

1

spittin' sunshine

Yes I read enough to know that I need to be looking for a fiduciary so appreciate the tip!!

Pedrocastenada

Good Citizen

2

Account Executive

I highly, highly recommend Ramit Sethi's book I will Teach You To Be Rich.

Corny title, but he does an exceptional job walking you through your finances step by step. It made me money literate.

happyhunter

Politicker

0

spittin' sunshine

Awesome thank you for the recommendation! Will definitely check it out

SADNES5

Politicker

1

down voters are marketing spies

Do what I did and invest it all in ARK funds at the peak... 📉🥹

braintank

Politicker

1

Enterprise Account Executive

Oy. I too got caught up in ARKK hype. Sold once I broke even and considered myself lucky. Cathy is off her rocker...

SADNES5

Politicker

0

down voters are marketing spies

I'm still in... HODL 10 years.

braintank

Politicker

1

Enterprise Account Executive

Couldn't stomach the fees with that crappy of performance. Plus she came out with some crazy BTC predictions. But zoom out 10 years and she could be spot on. More power to you for holding!

jefe

Arsonist

1

🍁

Simple ETF's are a great place to start, don't try and pick winners - it almost never works.

And read a lot, if you want to try and do that.

countingmyinterest

Politicker

1

Account Executive

invest into index funds and call it a day. maximize your 401k and other tax deductible accounts to reduce taxable liability.

taxes = bad and commission = high income tax

Justatitle

Big Shot

1

Account Executive

Great time to invest. Your buying at a discount. Might be wise for you to find a good financial planner given how new to it you are. If you’d like I can DM you the contact info for a good friend I have in financial planning. Let me know

amyhyoung

Politicker

1

Vp ops

Agree on maxing out in your 401k contribution and IRA contributions, if eligible. If you’re starting out, dollar cost averaging on a well established ETF or mutual fund (I’ve bought into fidelity contrafund and balanced fund and SPY (s&p)), invest the same amount on the same day each month (setting it on auto) is a safe way to start.

kelvin26

Fire Starter

0

administrative manager

https://timebrookinvestment.com/u/sign_up?r=kryptotitan

https://t.me/+L_3GDbXlz904MDg0

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