LemmyInRedditSux

joined 1 year ago
[–] LemmyInRedditSux@lemm.ee 2 points 1 year ago (1 children)

Where physically do I go, and who do I contact to begin an index fund?

[–] LemmyInRedditSux@lemm.ee -2 points 1 year ago

Okay we're getting to the point where you are repeating the same advice other people have already given. Please read through the other comments before you make a redundant comment. I have to read through all these and my brain & attention span & patience can only bear so much. Thank you.

[–] LemmyInRedditSux@lemm.ee 3 points 1 year ago (1 children)

Thank you. I am implementing everything you said, I will just weed out a couple things that are irrelevant to me,

first of all my healthcare is completely covered as a military veteran,

second I will never hire another financial advisor after my experience with Edward Jones a few years ago who cared nothing about my "financial mental health," (which I urgently needed help with at the time), they only cared about how my money was helping them.

I trust people like you on Lemmy more than I will ever trust a paid financial advisor. You guys are honest and you always give the same logical advice over and over again, I just need to absorb it, remember it, and do it.

[–] LemmyInRedditSux@lemm.ee 2 points 1 year ago

Maybe you missed the part when I said I'm debt-free.

[–] LemmyInRedditSux@lemm.ee 0 points 1 year ago

Aye! Thank you. Yes USA. 7,000 maximum Roth IRA annual contribution. Got it.

[–] LemmyInRedditSux@lemm.ee 6 points 1 year ago (1 children)

Thank you. I do miss a lot of the resources from "that other site" but they just banned my sixth account and I'm so done with them. I have noted all your advice and I will implement it.

[–] LemmyInRedditSux@lemm.ee 2 points 1 year ago

Index fund. Got it.

[–] LemmyInRedditSux@lemm.ee 3 points 1 year ago (6 children)

Got it. Will do. This is the kind of advice I'm looking for because I don't understand anything about investing, all I know investing is the only way to get ahead in life. Roth IRA. Got it.

 

48 years old, currently have no investments. My net worth is my car and the clothes on my back, and I don't ever want to be in this situation again.

(Edit: I don't need to buy a house or anything whatsoever related to a house, so please don't mention the "h" word in your response, it's triggering me for tangential reasons. Let me be clear, I will NEVER care about real estate whatsoever, mmmkay? Just trust me when I say I have a roof over my head and it's completely paid off, no property taxes, and No, I will never sell it, so the whole h-word" aspect of life is not a concern for me, k?)

Just looking for guidance where to invest this relatively small amount of money every month so in a few years when I'm older & frailer I'll have enough for retirement. I don't want it to just sit in my bank account, I want it to grow.

For reference, I've been living on approx $1500 per month for as long as I've noticed, so I don't need much per month, and the sooner I die, the less retirement fund I'll need, but we can never predict when anyone's death will happen, so let's assume I'll live to 100 because I'm ridiculously healthy & an exceptionally good driver, never been in an accident, one speeding ticket in my entire life, no social life so I never get into risky situations, so let's just plan for the possibility I'm going to live another 50 years.

[–] LemmyInRedditSux@lemm.ee 1 points 1 year ago

Yes. My username says it all. Late to the party because the fortress of Lemmy has been extremely difficult & discouraging to scale but today I finally did it.

[–] LemmyInRedditSux@lemm.ee 9 points 1 year ago* (last edited 1 year ago) (1 children)

Now you're just being elitist. True, petrol-fueled cars cannot run without oil. But fediverse CAN run on different things besides linux.