What should I do to optimize my investments? This is all I got at 29 years old. Goal is to hit $1M within 10 years from today
Bro, hire a professional. Do not get financial advice from anons or Redditors.
>>34506873This is one of the few cases where I'd advise against a financial planner. /adv/ probably won't give you the best advice, though. >>34506868The tl;dr version is that you must always have 6-12 months of living expenses in a checking account. After that, you should max out any reliable investment which is tax-exempt. Seems you're already doing that with ROTH IRA. Of your remaining money, let's say 50% should go into index funds. Maybe drop 20% into savings accounts or bonds, another 20% into precious metals (can spread between physical PMs and PM stocks). Do dollar cost averaging with all of these.And just play around with the remaining 10% how you want. Real estate/rental is also good, but that's a long term goal. If you want to deviate from this flowchart then you'll have to become financially literate. Which I thoroughly recommend. But the above should be more than enough.
>>34506868If you are not overmaxxingyour 401k, do that first. You can increase the number on your w4 to get more take home on your check and put that extra in. Reach the max before the end of the year so you can switch to after tax and pump the Ira. Pay your credit cards in full so, if there’s ever an emergency, you have room to fuck youself and pay half, heaven forbid. In the long run, time in the market is most valuable. Probably should get at least a little BTC. It isn’t going away. The dollar is going down. That makes what you have go up. You may be just about set to get a million in ten if you autopilot what you have already. You’re totally going to accomplish your goal, however you decide.
voo or vtsaxuntil you actually are a millionaire and can afford real help, every single dollar is better in a safe index fund and your attention spent on focusing how to make money in some other way
Buy Monero and hold
>>34506868Go to the edge of town, where the sidewalks stop.Buy landWait for a developer to want to build there.
>>34506873Shut up fag. I am loaded and I owe a good portion of that to Anon giving me good advice.
>>34507427good advice anon
Are you paying monthly interest on those 5 separate credit card balances?
>>34506868Put 50k of that into the karambit market
>>34506868read about index funds. if i were you id invest any spare money thats not immediately needed into a1jx52. but you need an understanding of why that works or youll sell it in a few years when what you need to do is keep it for decades. just read up on index funds investing.
>>34509148I'm already 73% index funds>>34508945yeah auto pay. Four give 5% back on different categories and one of them is for credit card churning (free $250 after spending 500)
>>34509152If you have access to that kind of cash, you should never be paying interest on credit cards. You can still use the cards but pay them off before the interest hits. That way you still get your 5% points and your "spend this to get that" deal but you don't pay interest.By paying high credit card interest you are giving away gains elsewhere for no rewards. This is money management 101.
>>34509285I meant I auto pay the full balance every month, so I never pay interest.
>>34506868Run the wheel strategy on dividend stocks. It’s retard proof and will get you 7% a year.
