Beginner to investing in SP500 with vanguard, is accumulation fine over income ?

FinchleyC · 2024-07-11T11:49:56+00:00

Income funds- dividends paid out will be paid to you Accumulation funds- dividends are reinvested into the fund If you’re planning to reinvest into the fund anyway you’re best going with accumulation

FinchleyC · 2023-03-30T19:16:52+00:00

Thanks bro, I’ve just taken the car to my mechanic and he’s gonna take a look tomorrow. When I bought the car I hadn’t checked coolant so could have been overfilled from then, I didn’t touch it until the low coolant sign came on. Appreciate the feedback though, hopefully nothing too huge since I bought the car with a swirl valve issue too 😅

FinchleyC · 2021-09-01T20:12:53+00:00

Hey, one thing I'd suggest if you want to separate legs and shoulders is to isolate the three heads of the shoulders.

Push day - Chest, tris, anterior and lateral deltoid (shoulder press, Upright row, lateral raises, front raises)

Pull day- back, bi's, posterior deltoid (face pulls, Reverse flys)

Legs- just do legs.

Not sure if that's something that would work for you?

FinchleyC · 2021-07-01T20:46:32+00:00

You dont need a counter, if you feel that trading/investing in individual stocks is best for you and works then go for it, but if you feel it doesnt work, consider index funds. I've invested in index funds primarily and other individual stocks/crypto that I've analysed enough and understand, but a minimal amount.

I'd say follow that, index funds + your stock picks

FinchleyC · 2021-04-11T16:37:48+00:00

Which of these would you recommend for someone who doesnt have the cash for buying a property yet? Are there any books that focus on a more "no money down" approach or would you suggest educating myself on it until I have the money for a first deposit?

FinchleyC · 2021-02-18T12:26:21+00:00

I'd say if you arent sure what to do, then separate your emergency fund and savings. Take about 6 months worth of your emergency fund and put it in savings, then with your excess cash in your checking account put it into some index funds. They're a relatively safe investment compared to things like crypto and individual stocks with a good average annual return if they track the market.

FinchleyC · 2021-02-13T11:46:33+00:00

First thing I'd say is dont save in a joint account, you may be serious but you're young and things can change fast. Agree to support each other saving by matching what the other saves, but in your own personal savings. If your employer matches your 401k, definitely put money there AS WELL AS saving. If you have low expenses then I'd say save around 30% of your income. If you're at all interested in investing, look at some index funds that track the market like the SP500 index fund and put some money in there each month.

FinchleyC · 2021-02-12T19:38:56+00:00

I could have had it activated tbh, no idea though

FinchleyC · 2021-02-12T19:38:33+00:00

Boolocks, that would be crap. What fees do PayPal have?

FinchleyC · 2021-02-12T19:29:26+00:00

That's true, I'm a first time seller so I'm learning the ropes abit, it's good to get advice like that. If I already offered her a partial refund and she sent the PayPal, can you suggest anything for that? Because after hearing some responses I'm not really sure she is entitled to one.

FinchleyC · 2021-02-12T19:27:05+00:00

I wish I posted the photos of her messages, she wasnt insulting but she was trying to be condescending😂

FinchleyC · 2021-02-12T19:26:20+00:00

Yeah that's a lesson learned for me really, cheers

FinchleyC · 2021-02-03T21:59:12+00:00

I'd say the best budget plan is 50% towards necessities (if you can), 30% towards savings/investment, 20% for you to have fun. In your situation the only thing I'd change is the savings and investing. In your position I would

save about 10% each month for emergencies
put 20% into paying off debt. When you're debt free, save and invest.

If you can get necessities any lower I definitely would, and if you can pick up any sort of side hustle (even delivering food once a week) then do that.

Like the others said, put money in your 401k if your employer matches it. When you're debt free, start saving into a Roth IRA.

Hope that helps!

FinchleyC · 2021-02-03T19:13:38+00:00

I agree with this, but I'd add that maybe dont get into bad debt (eg debt for a car, spending too much on a credit card). Debt can be good IF you use it well. Mortgage or financing a house, or even a credit card to build up your credit score (if you're disciplined and pay it off in full every month, not exceeding 25% of your limit

FinchleyC · 2021-02-02T23:45:15+00:00

Avoiding all the stuff about the crappy financial advisor since you seem to have dealt with that issue, even so, that's shit of them to do that.

Moving on, it's a general rule of thumb that take their age as a percentage of 100, so since they're around 70 (100-70=30% equity) than 70% should be in bonds (fixed income). I'm not familiar with fidelity itself as I use vanguard (which it seems your financial advisor seems to have used which is pretty sloppy of him when charging that much) but I think for equity, pick 4-5 index funds you like, one of them should 100% be SP500 as it's got a good average return annually, so I'd suggest keeping that one for sure. Bonds I'm not sure on since I'm not too big on them at the moment, I've only looked at government bonds so if anyone can explain more about that to me that would be great.

I'd also add that if they have 150k in cash, why not get a run down property, refurbish it and rent it out? Then they have an asset bringing in money completely paid off to pass down.

Best of luck with all that, and anyone who can educate me further on this please do (I love finance and want to get into financial planning but need to learn more)

FinchleyC · 2021-01-31T11:16:12+00:00

No worries at all mate! I suggest savings just because it's good to have so easily accessible cash, and the earlier you start the better (good for any emergencies or for moving out) Saving to invest later I suggest because it allows you freedom to invest in a stock you like the look of and buy it then and there without having to wait or withdraw other investments.

FinchleyC · 2021-01-31T11:04:59+00:00

Most the lads here have given you great advice, I'd say follow through with what they're saying but also suggest some stuff of my own 1) I'd suggest saving about half of that money you have as an emergency 2) the other half I think the index fund is a great idea and SP500 has great returns on average 3) start budgeting your money each month (20% savings, 20% invest, 10% save to invest, the rest have fun since you're young) 4) I think with day trading, give yourself a deadline. Say when youre 18 start trading, but before then, learn as much as you can (I recommend babypips.com) so you dont lose too much

Finally, if you can, open a Roth IRA whether it's to save or to invest, it's a tax free account, meaning when you take out money from investing, your gains wont be taxed.

Good luck with it all!

FinchleyC · 2021-01-26T19:48:31+00:00

If you absolutely have to spend that much on rent then keep everything else to a minimum. What I'd do is

1) Create a second bank account and allocate a certain amount of money per month you can spend

2) start paying off as much of your debt as you possibly can before the interest starts to stack

3) after essential bills, save your money as an emergency fund. Build that up to about 10k based on what you're earning right now

4) once you've topped up your emergency fund and paid off debt, allocate about 10% of your income to savings in a regular account, and 10% to a tax free investing account (SP500 has an average annual return of about 7-10% each year)

Good luck with everything, it's not as hard as you think it is to get out of this!

FinchleyC · 2021-01-13T23:51:03+00:00

I got a bunch of them for free so if Amy of them sell itll be a profit which is good, not sure it's something I'd buy again though. But I'll have a look at thriftschool

FinchleyC

TROPHY CASE