▲ 118 ▼ What can I do with US$10K that is a good investment? (lemmy.world) submitted 2 years ago* (last edited 2 years ago) by robocall@lemmy.world to c/nostupidquestions@lemmy.world 95 comments fedilink hide all child comments Edit: update I decided on a CD. I may do an index fund in the future. This was a short commitment and easy to understand. Thanks everybody.
[–] Asafum@feddit.nl 4 points 2 years ago (1 child) Hmmm I see a distinct lack of CDs on here... (Now I'm considering not renewing my 5% 9 month investment) Lol permalink fedilink source hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 5 points 2 years ago* (1 child) I just looked up what a CD is. It seems easier to understand than some of the other suggestions that have been made. I do not understand what a roth ira is or if it's right for me. permalink fedilink source parent hideshow 2 child comments replies: [–] Septimaeus@infosec.pub 2 points 2 years ago* (last edited 2 years ago) (1 child) Roth grows tax-free and has more long term flexibility compared to traditional IRA. The tradeoff is that it doesn’t reduce your taxes in the year you contribute. It’s the better option for most. permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago (1 child) Does a Roth mean I tell my employer to put the money into the account or do I put it in myself after I get paid? permalink fedilink source parent hideshow 2 child comments replies: [–] Septimaeus@infosec.pub 2 points 2 years ago (1 child) The latter, for Roth IRA.^A^ If you haven’t set one up before, it’s pretty straightforward.^B^ ^A^: There is such a thing as a Roth 401(k) which if offered should definitely be your top priority up to employer contribution match. ^B^: Vanguard is often recommended for simplicity and low fees. You can pick your funds when contributing. Typical starting funds are VTI and VOO (or the mutual fund equivalents with slightly lower fees, VTSAX and VFIAX). permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago great this is helpful permalink fedilink source parent
[–] robocall@lemmy.world [S] 5 points 2 years ago* (1 child) I just looked up what a CD is. It seems easier to understand than some of the other suggestions that have been made. I do not understand what a roth ira is or if it's right for me. permalink fedilink source parent hideshow 2 child comments replies: [–] Septimaeus@infosec.pub 2 points 2 years ago* (last edited 2 years ago) (1 child) Roth grows tax-free and has more long term flexibility compared to traditional IRA. The tradeoff is that it doesn’t reduce your taxes in the year you contribute. It’s the better option for most. permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago (1 child) Does a Roth mean I tell my employer to put the money into the account or do I put it in myself after I get paid? permalink fedilink source parent hideshow 2 child comments replies: [–] Septimaeus@infosec.pub 2 points 2 years ago (1 child) The latter, for Roth IRA.^A^ If you haven’t set one up before, it’s pretty straightforward.^B^ ^A^: There is such a thing as a Roth 401(k) which if offered should definitely be your top priority up to employer contribution match. ^B^: Vanguard is often recommended for simplicity and low fees. You can pick your funds when contributing. Typical starting funds are VTI and VOO (or the mutual fund equivalents with slightly lower fees, VTSAX and VFIAX). permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago great this is helpful permalink fedilink source parent
[–] Septimaeus@infosec.pub 2 points 2 years ago* (last edited 2 years ago) (1 child) Roth grows tax-free and has more long term flexibility compared to traditional IRA. The tradeoff is that it doesn’t reduce your taxes in the year you contribute. It’s the better option for most. permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago (1 child) Does a Roth mean I tell my employer to put the money into the account or do I put it in myself after I get paid? permalink fedilink source parent hideshow 2 child comments replies: [–] Septimaeus@infosec.pub 2 points 2 years ago (1 child) The latter, for Roth IRA.^A^ If you haven’t set one up before, it’s pretty straightforward.^B^ ^A^: There is such a thing as a Roth 401(k) which if offered should definitely be your top priority up to employer contribution match. ^B^: Vanguard is often recommended for simplicity and low fees. You can pick your funds when contributing. Typical starting funds are VTI and VOO (or the mutual fund equivalents with slightly lower fees, VTSAX and VFIAX). permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago great this is helpful permalink fedilink source parent
[–] robocall@lemmy.world [S] 2 points 2 years ago (1 child) Does a Roth mean I tell my employer to put the money into the account or do I put it in myself after I get paid? permalink fedilink source parent hideshow 2 child comments replies: [–] Septimaeus@infosec.pub 2 points 2 years ago (1 child) The latter, for Roth IRA.^A^ If you haven’t set one up before, it’s pretty straightforward.^B^ ^A^: There is such a thing as a Roth 401(k) which if offered should definitely be your top priority up to employer contribution match. ^B^: Vanguard is often recommended for simplicity and low fees. You can pick your funds when contributing. Typical starting funds are VTI and VOO (or the mutual fund equivalents with slightly lower fees, VTSAX and VFIAX). permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago great this is helpful permalink fedilink source parent
[–] Septimaeus@infosec.pub 2 points 2 years ago (1 child) The latter, for Roth IRA.^A^ If you haven’t set one up before, it’s pretty straightforward.^B^ ^A^: There is such a thing as a Roth 401(k) which if offered should definitely be your top priority up to employer contribution match. ^B^: Vanguard is often recommended for simplicity and low fees. You can pick your funds when contributing. Typical starting funds are VTI and VOO (or the mutual fund equivalents with slightly lower fees, VTSAX and VFIAX). permalink fedilink source parent hideshow 2 child comments replies: [–] robocall@lemmy.world [S] 2 points 2 years ago great this is helpful permalink fedilink source parent
[–] robocall@lemmy.world [S] 2 points 2 years ago great this is helpful permalink fedilink source parent