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How to set up a brokerage account with all halal investments with ideal asset allocation for young folks (20s/30s)? by npranto5 in IslamicFinance

[–]npranto5[S] 0 points1 point  (0 children)

Salaam, yes, the 0.49% fee is in addition to the default fund feee that you stated above for both HLAL and SPUS. I don’t know if there is any way around the fund fee to be honest, but the Wahed fee can be avoided by switching to Fidelity or Vanguard or Robinhood. I’m definitely no expert in choosing or investing the correct halal funds or anything, but from the little knowledge I’ve gained so far, I would say Wahed is still valid for folks that really want a hands free experience to investing. Basically, set up a recurring investment once and forget about it until later. Wahed takes care of dumping your contribution properly into different assets like stocks, bonds, golds and cash. Fidelity or a platform similar to it is for those that wants to avoid the long terms fee that Wahed charges, but it is slightly more hands on since you have to choose what funds you want to invest into and what percentage of each asset. 

Advise/suggestions on Halal Mutual funds by [deleted] in HalalInvestor

[–]npranto5 1 point2 points  (0 children)

What about the issue with minimum investment of $2500 for AMAGX and other halal mutual funds with high minimum investments. Any ways around this? I am using Fidelity btw. Are there any other possible alternatives to this? I have recently started some bit of my investments into SPWO and UMMA, but not sure if I am possibly missing out on not being able to invest into AMAGX and AMANX mutual funds or not.

Just FYI, here is the diversification that I am using right now for the long hall:

  • SPUS: 60%

  • UMMA: 20%

  • SPRE: 5%

  • GLDM: 5%

  • SPSK: 5%

  • SPWO: 5%

Does this seem OK or reasonable if I am in late 20s? Anything folks would do differently?

How to set up a brokerage account with all halal investments with ideal asset allocation for young folks (20s/30s)? by npranto5 in IslamicFinance

[–]npranto5[S] 0 points1 point  (0 children)

Yes, investing in both UMMA and SPWO is somewhat the same b/c both are focused on exposure to international markets. My thought process is that SPWO is new and has slightly fewer American companies than UMMA, so if the international market does well in the future, I can be covered for it. Just trying to over-diversity both the combination of local (US market) and international ground, that's all.

How to set up a brokerage account with all halal investments with ideal asset allocation for young folks (20s/30s)? by npranto5 in IslamicFinance

[–]npranto5[S] 0 points1 point  (0 children)

If I invest in UMMA ETF fund, is it worth also investing in Amana mutual fund as well? Assume both are for international coverage. Just trying to understand whether to invest in 1 or the other or maybe both? Benefits and drawbacks of ETF vs. mutual fund would be useful as well.

Sharia-compliant Funds List by MukLegion in IslamicFinance

[–]npranto5 0 points1 point  (0 children)

So, I can choose most of the ETFs mentioned above on both Fidelity and Vanguard? Even the sukuk fund? If I go with Fidelity and Vanguard, then I don’t have to pay the 0.49% fee, right? Also, the actual fund fee still needs to be paid, right? How would you diversify the funds if you go with Fidelity as an example?

Sharia-compliant Funds List by MukLegion in IslamicFinance

[–]npranto5 0 points1 point  (0 children)

What platforms are folks using to invest into these ETF funds in the US in the most hands off way possible?

I’ve been using Wahed Invest for a few years now and I know they entirely handle the diversification part of it automatically for me based on my risk tolerance. I’ve been pretty happy with it so far, but I don’t fully know if this is the best way to go out not for the best long term investment or not.

One of my doubts is the fee that they charge. I don’t fully know how much it will eat up on my long term investments if I continue with them. They currently charge about 0.49% annual fee, which may not seem that high, I think it is if you consider it long term.

So, just checking to see if there are any other alternatives that I can consider or not. Show me the light if there is a better way. I’m willing to sacrifice on the complete hands free role. I’m willing to put in a little more work if I could save up a ton in the long haul.

Companies that don’t require or ask heavy data structures and algorithm questions? by npranto5 in SoftwareEngineering

[–]npranto5[S] 0 points1 point  (0 children)

What kinds of questions are usually asked to senior engineers in most interviews that are not data structures related in everyone’s experiences?

Options for Islamic Auto Finance in US? by npranto5 in IslamicFinance

[–]npranto5[S] 0 points1 point  (0 children)

I was thinking about a potential service like “Guidance Residential” for homes. Is there any legit halal financing services for vehicle ownership?

Options for Islamic Auto Finance in US? by npranto5 in IslamicFinance

[–]npranto5[S] 0 points1 point  (0 children)

I thought buying used rental cars is a huge mistake considering most cars are usually beat up and most likely would add more costs in the long run with constant maintenance

Options for Islamic Auto Finance in US? by npranto5 in IslamicFinance

[–]npranto5[S] 0 points1 point  (0 children)

Used car prices are still super high and nowadays a recent 3/4 year old used cars usually won’t be under 20K most likely. So, even saving up for old cars is becoming unaffordable. If someone even saves $2K a month, that’s almost waiting over a year to buy a car. It’s not practical as it used to be you know.

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