Hi, currently I’m doing my own thing, but I feel like my capital will become wasted after the 100k mark. I’m sitting at 50, and will be hitting 100 soon and wondering where should I start investing my spare income to secure a long-term future. I want to cover both my short-term profits and my long-term, I do not require short-term investment strategies, as my current ROI short term is higher than anything the stock market could produce me until my capital becomes too much for me to use. Just wondering if there’s a good number to invest monthly, such as 1k, 2k, or 3k, or more. And where?
VOO. It’s reliable. Solid returns for the long term.
Me personally I have an emergency fund of about $10k in cash in my bank account, I pay my bills and leave some spending money, then the rest of my paycheck goes into stocks immediately. I can always cash out the stocks if I need to, but in the meantime I’m maximizing my growth.
@Quinby
Thank you. Will take it into consideration, I don’t know much about the stock market but I’ve heard terms such as the S&P 500, is it similar?
Adair said:
@Quinby
Thank you. Will take it into consideration, I don’t know much about the stock market but I’ve heard terms such as the S&P 500, is it similar?
Yes. Very similar.
Read The Simple Path to Wealth by JL Collins.
Where is your cash coming from now? Where are you getting this $3,000 per month?
Zen said:
Where is your cash coming from now? Where are you getting this $3,000 per month?
Will stay undisclosed, but it is legal and sustainable for the foreseeable future.
Zen said:
Where is your cash coming from now? Where are you getting this $3,000 per month?
Will stay undisclosed, but it is legal and sustainable for the foreseeable future.
Can you tell at least the area of your work? Ecommerce? Or just normal work for clients?
@Teegan
Ecommerce I guess? Doesn’t really cover it but it’s not relevant, it’s a very niche field, I have mentors to advise me on the funds necessary and we have collectively agreed that the use of any funds after 100k gets harder/less effective.
Zen said:
Where is your cash coming from now? Where are you getting this $3,000 per month?
Will stay undisclosed, but it is legal and sustainable for the foreseeable future.
If you’ve got a steady gig earning like that and continue to do so, then you don’t necessarily need to invest it. Just keep doing what you’re doing.
@Zen
But that’s the issue, my steady gig maximizes its return around the 100k mark. That’s where my funds become slow and would be better off somewhere else. I’m just looking for where I should put my money when the time comes.
@Adair
At 18 years old, I would start putting the max into a Roth IRA as well as a good index fund like VOO, QQQ, Schwab S&P 500, etc. Let it grow and keep putting as much in as you can. Gold is always a smart move, too. If you feel lucky and think you can spot the next NVIDIA, AMAZON, or TESLA, bet $10,000 and take a chance, but know that you could lose it all.
Dez said:
Crypto Mining.
Any more detail to this?
Just study and buy Bitcoin.
Bro, Bitcoin will probably be up to $120k by next year!
Marin said:
Bro, Bitcoin will probably be up to $120k by next year!
I’m not really looking for those investments that are either “wow it can double, or half,” I’m just looking for a more reliable source to place my excess funds, slow but not too slow, but reliable.
Crypto and index funds.