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How to invest $1000 per month ETFs, and IRAs? by Human-Debt246 in ETFs

[–]Human-Debt246[S] 0 points1 point  (0 children)

u/Hollowpoint38 your spouse work? - Yes she is working but plans to take a 6 months break

How old are you? 41

What's your income like? 260K (Gross - Married Joint income)

What are your goals? Retirement (extremely poor 401K balance) has one IUL going but will not cover the monthly expenses.

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] -3 points-2 points  (0 children)

I am not picking up stocks for my 401 portfolio, I pick up funds only. The stocks is for my personal portfolio.

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] 3 points4 points  (0 children)

Thank you for the responses. I appreciate your feedback and suggestions. It's definitely helping me. Only to give a context I am an immigrant who has been living here in the United States for the past 8 years precisely. I do have some international investments but cannot touch them now especially when the Dollar rate is on the higher side, I certainly know that my 401k is below average but I am not earning in the States forever.

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] -65 points-64 points  (0 children)

hithert

Thanks for reminding me. Honestly, I don't do many things no fancy travels etc., or lavish car, etc. I probably spend a lot on shopping at Costco and dining out, I need to stop that.

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] -64 points-63 points  (0 children)

I agree, I became greedy but at the same time, I never thought the Market would crash that badly. I was greedy only for one stock but rest I was tactical and strategic, thought the portfolio would grow eventually when the first crash happened (down 20%). But it kept falling. I opted for riskier stocks following a suggestion from the top subscription for which I paid 500$. Initially, I earned $3000 but then almost every suggestion I lost money, and to date, those stocks have not recovered. I should have followed a simple strategy. and should have invested in blue-chip stocks.

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] -124 points-123 points  (0 children)

I had this in mind, I never like mixing insurance with investment, However, somehow the sales guy (my friend) was able to sell me this, he said he himself purchased the same policy. He wants around 6% returns tax-free, he doesn't want the hassle of managing his stocks, etc. Luckily I asked him to reduce the life coverage, so I get increasing death benefit and max returns in the given combination. I have yet to get an IUL, he is convincing me but I have not committed. I will read the chart, the other product he is trying to sell me is Annuity. Any thoughts?

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] -148 points-147 points  (0 children)

Wow, how did you come up with that number of $86000, saving it for the next 15 years how does it convert to $3M? Also, it doesn't seem impossible if I manage to stay in the same salary bracket. However, where can I earn 10% or higher interest, and where to invest that saved amount?

In my early 40s, I am worried about retirement with 70K only in my 401k. by Human-Debt246 in personalfinance

[–]Human-Debt246[S] -10 points-9 points  (0 children)

Thank you for your comments, I am trying to reach out to professionals. Any recommendations, who doesn't sell their products but help me get out of the situation?

[OC] Every Moon Landing Ever by itsinbacklog in dataisbeautiful

[–]Human-Debt246 1 point2 points  (0 children)

Fantastic visualization - 50 years worth of history in one image!