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Thread: So I've saved 20k in 21 months

  1. #1
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    So I've saved 20k in 21 months

    Just updating that I managed to save another 10k since I updated Jan of this year!

    I posted in my other thread, but figured I'll start a new thread to keep it straight forward.

    Should I invest in some low cost index funds now, or wait another half a year?


    Thanks guys for all your tips last time, it made a world of difference. I still socialise and eat out, I'm going to two concerts a year and have a trip planned for next year! Life is great.

  2. #2
    Platinum Member melancholy123's Avatar
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    Good for you! I dont think there's too many, if any, financial advisors on here, so you'd be better off finding one in your area, you can ask at your local bank as they have financial planners who can assist you.

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    Amazing!!!!!!!!!

    Look into Vanguard or Fidrlity for no load funds. Be very careful with financial advisers, as the fees can eat away at many of your gains if you do not know what yo look for. Check out Index funds for much diversification. I also suggest taking some non credit Finance classes.

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    One more thing, how you invest is dependent on your age. At 30, you should probably do an 80/20 split. Eighty percent equities and 20 percent bonds. The bonds will help when the markets dip. You should also balance out some of your portfolio with international stocks and bonds .

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  6. #5
    Bronze Member MirrorKnight's Avatar
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    That's pretty impressive, welldone!

    Do you already own your own home? Because if not, I would definitely look at getting on the housing ladder first.

    I have worked in a UK investment management firm before and I have friends who work in finance. The truth is that for the average person (i.e. not high net-value investor), financial advisers are usually a waste of money, because let's say that you find one who can give you an average of 1% better return than just buying a safe index like the FTSE 100 (index of top 100 companies listed in the UK), then the management fee eats up the difference, because 1% of $20k is $200, whereas 1% of $2M is $20k.

    I am not sure where you live. I'm going to assume the US. I don't know what the US housing market is like, but if I had a lot of money to invest, I would look into real estate in emerging markets. My parents bought a house in the UK for 250k in 2008, it is now worth about 400k. If they invested that money in Beijing in 2008, they would have about 4M worth of real estate in the Chinese capital now.

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    Platinum Member Andrina's Avatar
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    Assuming you already put money in a company sponsored or independent retirement fund, I might suggest putting some extra money in a CD, which usually has a year and a half maturity date.

  8. #7
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    Originally Posted by Andrina
    Assuming you already put money in a company sponsored or independent retirement fund, I might suggest putting some extra money in a CD, which usually has a year and a half maturity date.
    Just a little extra info: CDs range from three months to five years. A CD has a very low return, but is FDIC insured. The S & P has had a return of 9% YTD.

    I also suggest that you start a Roth IRA, instead of a regular IRA. You will not get slammed with the awful withdrawals (RMDS) and taxes in your later years.

  9. #8
    Gold Member SarahLancaster's Avatar
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    Our Vanguard funds have been extremely lucrative over the years. And they're very helpful about steering you into the right direction. Give them a call.

  10. #9
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    Good for you! I agree to ask at your bank. Good luck!

  11. #10
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    Originally Posted by SarahLancaster
    Our Vanguard funds have been extremely lucrative over the years. And they're very helpful about steering you into the right direction. Give them a call.
    Vanguard is great. That is where my family and I, do all of out investing.

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