Zig Forums my anxiety is going through the roof, I just feel so unsettled when it comes to money, like im being spread too thin.
I have about 30k in savings and I know inflation is eating away at it but idk where else to put it? Its in a very low interest savings account. I do have some crypto but do I put this in boomer stocks? Roth IRA? Put more into crypto? Save for a housing crash? Its eating me alive and it feels like the opportunities are fleeting.
Please help.
make some fucking goals and start saving towards them
what i'd do:
$3k gold/silver
$10k long term etfs, VOO, VYM, BND
$2k gamble with pennystocks/crypto
$5k IRA
$10k cash
and since you have a good amount of liquid cash start churning bank account bonuses and credit card bonuses if you have the monthly expenses anyway
Put half into the stock market.
Put half into a Capital One 1.5% account.
That's what I did. The stock account is more of a gamble and the other account is the safe bet in case the market tumbles.
Pimps up hos down
If I put money into the stock market can I pull it out at any time if I want to buy a house or am I locked in to avoid tax penalties? I would prefer my money to stay semi-liquid. This is part of my fear
Assuming you’re from the states, if you take a profit within 365 days of purchasing, you’ll need to pay 35% tax. If you take a profit after the first year, it drops to 15%
I'm going to give you the best advice you'll get here because I had this strain of anxiety before. Put your savings into a stable coin savings wallet until you find out what you want to do with it. better rates than banks so you won't lose 2-3% in a first gen savings every year due to inflation
What about the OG investment? Being able to take out the original sans tax is what i thought the only benefit of a roth was? Yes im from the states
Thank you brotha, I will look into this and its legality in the usa
also, just be patient and wait for biz moonshots. If I had 30k I'd use 5k for moonshot gambles. Another 5k in a penny stock. SHRM for example
Couldnt find shrm on the TD ticker?
SHRMF for us burgers
It sounds like putting your money into crypto gives you anxiety, so if you want to.put it.in an IRA, Put it in an IRA if it makes you less anxious.
If you have anxiety with 30k you’re in for a bad time.
Get your anxiety managed first and foremost.
I wish I had done that myself and I’m a fucking wreck every single day
god DAMN. I signed up and wired money to fidelity JUST so I could buy $SHRM and that wire took a couple days of lost opportunity.
I actually feel the most confident about my crypto investments but I realize the risk so I know I have enough of a chunk of my net worth in it. Its the 30k rotting in the bank that im worried about
Im trying to, I dont want to be on benzos and become a zombie
I know the feels. It's the only first gen asset I hold desu. boomer shit is too slow
Price has tanked last few days for SHRM so I would say you have an even better opportunity. Unless you were talking about early last week
yeah, it was on one of the first threads that was being shilled. I could have done it through Vanguard if that's the case. guess I'll just buy some in my IRA, then, kek.
DESU though how high of a mcap can we see with this company? it's already at a 200mm market cap...
I'm thinking $15-20 mid term $30-40 in a couple years if the (((markets))) are still running
ok, so the current price is $1.30 USD. Current mcap is $206,494,235.15. Do you REALLY think in the mid-term that this is going to be a $2.5 billion dollar company to make that share price $15?
This means when it's $6, that's a $1 billion (CA)Dollar valuation.
ignore the 2nd line. was doing the calculations initially in CAD since this is a leaf stock.
>Finance grad here
You should have at least 6 months worth of expenses put into a savings account. To withdraw anytime for emergencies. If that's less than your 30k, than the difference is your money to work with. Many online banks, such as Ally, will have much better interest rates than traditional banks. A stable coin wallet is also an option for better rates.
After that, you should grow your investments, starting at the least risky and moving up. This means first setting up a retirement plan. This can be a traditional IRA, ROTH IRA, or 401k. If you believe taxes will be higher in the future, you'd pick a ROTH IRA and pay the taxes today, instead of when you withdraw. If you believe they'd be lower, get a traditional. Your employer's 401k is the best place to start, since your employer will match any deposit you make into it, up to a point specified by that employer. So if their limit is $5000 a year, they'll double all deposits you make into the 401k for up to $5000, making your $5000 deposit into $10000. You'll double your money as soon as you deposit, but can't withdraw until retirement age. Try to find out what assets your 401k is invested in, to make sure it's a low risk portfolio.
KEEP IN MIND. America is in a recession, that means interest rates from banks are the lowest you'll see in a while. Might be the most opportune time to get a realistic home loan, as it'll be the cheapest loan you'll get. If you already have one, re-finance. It's a borrowers market, and you'll probably save thousands.
Best of luck. More suggestions if you want them
found the redditor. go back to /r/personalfinance.
Wait....so I just hold my stocks for a year?
Lmfao. Wtf, I'll dump mark but these other stocks I'll hold forever. Kos, mro, cpe, eman. Hell I need to buy more mro
A ROTH IRA lets you withdraw sans tax at or after retirement age of 66. Before then, you will be charged "early withdrawal penalties".
no not at all lmao I just dream big
Fuck this cesspool if actually good advice is relegated to Reddit
Ignore this retarded faggot who gives a fuck about preserving 3k in Gold.
ETFs are beyond retarded going into a global depression.
What you should do is buy 10k ETH, 10k loopring, 5k Bitcoin and keep 5k for an emergency.
Stocks are going to implode before the end of the year.
Crypto and Gold are your only plays.
Gold = maybe 2-5x
Crypto = maybe 100-1000x
Don't be left behind hating yourself in 10 years.
kek
Why? The convos actually interesting on chan.
i also have 30k jewbucks that is not appreciating in anyway user, congrats on your decent savings habits. also because you confirmed to me that there are many others sitting on inconsequential shitstacks i might just kms. I sat at the dinner table ranting to my boomer mother for the last 1.5hr while she held back tears
what did you rant about?
Aight, here you go:
>10k on crypto
>5k on UPRO (3x leverage S&P 500) or TQQQ (3x leverage tech industry)
>5k on TMF (3x leverage bonds)
>5k of play money (options, individual stocks, speculative trading)
>5k cash
Literally that's it. And yes, your opportunities are fleeting the longer your money sits in the bank. Fuck saving straight cash all the time. Start accumulating assets that earn money while you're sleeping, commuting, working.
>imagine saving money to be rich at old age instead of expanding capital through crypto and options to be rich at young age
>Imagine pulling $1,000,000 out of your retirement fund at age 60 instead of cashing out $10,000,000 at age 30-40.
Vomitus.