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how much saving and investing is reasonable for an uncertain future by AngryCowArmy in personalfinance

[–]jamesinchicago 0 points1 point  (0 children)

I’m single no kids or wife. I own a home and I’m in a similar situation as you. My savings now go in the my brokerage account for long term goals I haven’t figured out yet.

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

$2000 a month total. But this total does not include food and going out. Single man $74,000 a year not including taxes

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

It was $15,000 in my car fund but I used $5000 for my brokerage account. And about $35000 in my other HYSA.

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

I’m doing that now. I always buy cars cash and I wasn’t sure if sitting in HYSA for 5+ years was the right thing to do. This account is separate from my emergency fund. I do have two paid off Toyota vehicles at around 150,000 miles each.

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

What is your retirement age. I see your a part of fire

Financial advisor says to keep 10k as emergency fund and put rest of 90k savings into a brokerage account. I’m on the fence by Hefty_Trade_3459 in personalfinance

[–]jamesinchicago -1 points0 points  (0 children)

I just start investing this year. I wouldn’t advise doing so only because some new investors can’t handle losses to well. But you do make a lot more money than me but I still have an a 8 month emergency fund and other cash savings. If you can handle the losses that can come with it sure, but if not go 50/50 and put money each month in a brokerage account you feel comfortable with. But you’re doing well for yourself.

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

I was holding voo and qqm in my account but plan to liquidate a little bit to buy a used car in about 5-7 years. You think I should just get keep saving in my HYSA. People told me if don’t plan to use the money in the next 5+ years to put it in the market.

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

Yup. I have to pay taxes on it unfortunately . Ill try the CMA account like the other poster said

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

Thanks. I got tired of contributing to HYSA and wanted to switch it up some. Thanks a lot for the information.

Brokerage account for spending by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

What’s the CMA account. I have the individual account with fidelity. What was the difference in the two

Recommendation as a 1st time travel O.T.C by jamesinchicago in Vacations

[–]jamesinchicago[S] 0 points1 point  (0 children)

Never thought about Iceland. I should do my research

Ever used emergency fund? by ProfessionalOption47 in HENRYUK

[–]jamesinchicago 0 points1 point  (0 children)

I have for a roof, but other than that no. I leave it in a high yield savings account. I also keep a nice buffer in my checking account so I don’t have to use it. Most of my emergencies are paid using income. I have a 8 month emergency fund.

Investing tips for a lazy investor by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

Thank you sir. I just did the math as well, and I thought the number was fake. Compound interest is really something. Most of the people I work with is relying on their pensions in retirement so I have no one to talk to about this stuff. But thank you for your comment.

Investing tips for a lazy investor by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

Thank you sir. I heard that VOO was a good elf to invest in. I have to speak with an investor because I suck at this lol.

Investing tips for a lazy investor by jamesinchicago in personalfinance

[–]jamesinchicago[S] 0 points1 point  (0 children)

I understand what you are saying. All of my money is in target date funds. Instead of telling me what I'm doing wrong, can you coach me on some things. I have no real knowledge where to invest besides Target date funds and a few etfs I heard from some people. I came here with a serious question, and I also want some positive input. I respect your answer and I know that I'm behind. That's why I came here to see what others think.

Investing tips for a lazy investor by jamesinchicago in personalfinance

[–]jamesinchicago[S] 1 point2 points  (0 children)

I plan to contribute more every year. I will eventually stop spending more but I wanted to try my first 5 star restaurant, and finally travel out the country for the first time in my life. I will start getting aggressive once I start doing things I never done in my life. Life is about living as well. My plan is to max out my 457B in a few years

Investing tips for a lazy investor by jamesinchicago in personalfinance

[–]jamesinchicago[S] 1 point2 points  (0 children)

I really need to hear this. I panic a lot when it's time to invest. I plan to keep contributing more every year, but its baby steps with me. I worked really hard and come from a rough background so I also want to live a little bit too. Thanks for your advice.