FINANCIAL ADVICE NEEDED

civcinco · 2019-04-03T14:39:28+00:00

I wish someone had told me this when I was like 19:

Learn what a Roth IRA is and max it out ever year. It's only 5500 max. You can do it. Once you have a solid job with a 401k put at least enough to get the company matching percentage and aspire to the max. Currently 19k.

Be patient. Look at the long term. Don't freak and sell if the market goes down. Don't sell unless it's an emergency like life or death.

Keep your money invested at least one year to avoid capital gains tax. You can get a loan against your 401k and you can use what ever you put into your Roth as an emergency fund just don't take out any earnings.

Invest in ETFs and mutual funds go for large cap. That means one "stock" is actually invested in some of our largest companies. The fees are low because it's done by a computer. Avoid funds that are managed by people they're expensive and they aren't much better at it.

OneLoneSoul · 2019-04-03T14:32:09+00:00

When you get paid for anything put back at the minimum of 10% and never spend it. Create first an emergency fund equal to 6 months of your pay before considering any investing. Once your emergency fund is fully funded then you may pursue investing.

RPdOF · 2019-04-03T15:38:41+00:00

Don't get you FINANCIAL ADVICE from random people on the internet.

GottaGoMGTOW · 2019-04-03T16:47:42+00:00

This sounds like great advice. Here's mine:

--Actually do what the above posters say. I'd reccomend a vanguard account for all of your investment dollars

--Monitor your credit using the credit karma app. Get an amazon cc to help your credit and keep it open for a long ass time.

--Only buy a car at a fair price with a 0% or .9% loan. This will help you increase your credit score

--Otherwise stay out if debt. College is mostly a gynocentric scam to get dads to pay for a fake education for their daughters.

--Get a vasectomy. The world is stacked against men who have kids. Don't play their sick game.

--Don't get married. Marriage is stacked against men x 10

--Save your money. The decision makers in this world are out to exploit you. Don't buy people shit and don't take expensive vacations. Leave that for the ladies to do since they are in charge.

RedPilledSimp · 2019-04-04T07:19:47+00:00

IDK you financial situation OP. Also I wasn't able to watch that clip. All I can say is how I did it. When I started working as a wage slave I made it a habit to set aside 20% of my net income on a savings account each month to build up an "emergency fund." I kept saving that way all the time until I was able to financially replace everything in my life. Fridge, car even house. After that I started to invest on the stock markets. Buy and hold strategy with good dividend yields and solid companies. Spread my investments and chip off high profit to buy new stocks.

Lame as it might sound but a GD truth: the best way to save money is not spending it. I always buy the cheapest products in the supermarket f.e. cheese = cheese. If there's a non perishable product which I will always need on a good sale I buy it in large quantities. F.e. bought enough deodorant to last me approx 10 years: that brand had made up a new model of container and wanted to lose the "old ones" also it was "buy 1. get 1 for free." So I bought approx 200 of them.

Beware for impulse purchases. If there's the slightest hint of doubt before a purchase: don't. Just go home and if you still want to have it, then go back. I bet in 99,9% of the cases you won't go back. If you have trouble with impulse purchases just give yourself a weekly budget of cash money in your wallet. "when it's gone, it's gone."

Furthermore I made an excel with all my monthly expenditures: mortgage, utility, insurances a.s.o. Look what you can cut out there. Insurances f.e. Don't take an insurance for things you can immediately replace. My advice for "mandatory" insurances are: health care (with highest "own risk" for the lowest prize. I can easily pay my GP to get my BP measured), legal support, liability, your house and car (usually state enforced anyway). Look which subscriptions you can lose as well.

Title	FINANCIAL ADVICE NEEDED
Author	DiogenesObserves
Upvotes	5
Comments	6
Date	April 3, 2019 2:20 PM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/b8ykb6/financial_advice_needed/
Archive Link	https://theredarchive.com/r/MGTOW/financial-advice-needed.488070 https://theredarchive.com/post/488070

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