Thread 61091054

I have almost 30 grand sitting in a checking account. I live with my parents, my car is paid off long ago. I am but a humble wagie. What do I do with this? I am low IQ and bad with tech so crypto puts me off. I don't think I have enough to get much out of a HYSA. I'm in my mid 20s, should I do a roth IRA?

>>61091054 (OP)
idk but I think you're gonna make it

Does your job offer a 401(k)? If not, open a Roth IRA and dump everything into VOO. Nothing else. Do that for a few decades and then retire with millions of dollars.

>>61091108
Yeah, I think they have a 401k. I used to bounce from job to job so I got into a habit of just opting out of everything when I got hired because I just wanted the money up front. But this is a good company I think i'll stay with them for a while. If you do an IRA is it better to just do it yourself online or should I make an appointment with one of those investment places and do it in person?

>>61091054 (OP)
Why the fuck are you thinking about a Roth IRA when you're living with your parents? Hit a few more adult milestones first before you start thinking about retirement.

>>61091124
Houses are too expensive, I live in a city. Apartments are pretty fucked too. I dont want to pay a (((landlord))) 2 grand a month to live in a room when I can do it for free already. I just want to put my money somewhere where it does something instead of rotting away in a checking account, and IRA is the only thing I really know of.

Put it all in xrp and wait as long as you can with your parents…say 5 years…and you will probably be a millionaire…if not you probably won’t lose any money either….but it’s your best chance at winning against the lizard people

>>61091207
this is another thing I dont understand about crypto is how do you even get your money out? Hypothetically if I put 30k into xrp or whatever and it becomes millions, who do I even go to in order to retrieve my million dollars cash?

>>61091054 (OP)
Yes, you should be maxing out a Roth IRA in your 20s
Also, because it's a tax advantaged account, it avoids all the tax complications around some investments, such as pfics
I opened a Roth years ago specifically to invest in pfics like Franco Nevada and Wheaton precious metals without all the pfic complications

60% global equities, 20% gold, 20% btc, modify as to your desired risk tolerance

>>61091054 (OP)
1 high quality prep/camping gear. Get yourself good quality shoes, jacket, backpack and a good field knife. Stuff you would want to use sone time down the road anyway. That stuff is still not inflation adjusted.
Then after that silver and gold, mining stock in Australia. Then maybe save 5 k for a rainy fiat day.

>>61091123
If they have a 401(k), contribute enough to get the match. That’s free money. After that, dump money into your Roth. You don’t need to go in-person, set one up on Fidelity. Dump everything into VOO.
>>61091207
Don’t do this.
>>61091224
You could do this instead of VOO. I’m just a bit biased because the global market has sucked ass for a while. But contributing to a global ETF like VT instead of VOO is guaranteed money over decades. Gold and bitcoin are also good ideas.

>>61091363
thanks friend. I was reading about VOO after your post, it seems like a good idea. I'm going to avoid bitcoin and crypto in general. I'll read more about global market and gold.

>>61091222
>how do you even get your money out
That's the joke. You don't. Yes you should be investing your money. Fidelity, Vanguard, Schwab are all good. I use Schwab because (a) they have an office near me and (b) they're also a bank so you can write checks on your account, get a debit card for it, you can get your paychecks direct deposited there &c. All pretty seamless.

Buy physical silver coins and bars.

>>61093177
I dont understand buying metals. People seem to do it as a pseudo doomsday prep but if the world ends and Im stuck in a city I will just take whatever I need until eventually I die from whatever cause. Its kind of pointless, I dont know who Im going to barter silver coins with. If anything people would just want to trade guns, ammo, and food/water, no one would really give a shit about silver bars. In terms of an investment, why are they better than just an IRA? IRA seems more stable and reliable, and like I said if the world ends I dont really care if I have coins or not because I'm /k/pilled so I can take what I want from the local brownoid neighborhoods and trade my loot with fellow whites if need be. In terms of the world not ending, is the argument just that silver/gold will grow faster than stocks and be equally as secure?

>>61094590
Physical silver/gold is something you should have a little of
the good news is most people don't have any
even 5k split between them probably puts you in the top 20% of the population
There aren't too many things you can buy for only 5k that puts you in that bracket

but at your age you want to be in traditional investments and get that compounding happening asap

>>61094590
from the doomsday prespective, its to maintain your capital until the next civilization arrives instead of having all of your capital in equity vanish when shtf

Enjoy losing 90+% of your savings

>>61091054 (OP)
low IQ is a huge advantage when you realize that you're immune to women's bullshit mindblast tactics, stress, depression, etc.

>>61094590
It’s not really doomsday prep - yes, there’s the idea that future shortages will drastically increase pm value in the future;
But really, it’s just really, really safe. It’s a physical asset that is sufficiently divisible as to be accessible, is relatively portable, valuable everywhere and is protected from inflation. Everything else is a bonus from this baseline.

>>61091222
You just convert it to whatever other “asset” you want

>>61094590
Yep…shotgun shells, 22lr, water, sugar, salt, alcohol, beans, coffee, lighters…all probably more valuable than gold during shit hits the fan

>>61091054 (OP)
Buy 1,000 link and hope for the best unironically. A fucking IRA is not going to get you out of mommy's basement

>>61091054 (OP)
you are pretty much me from a few years ago. I put 80% into spy, 10% into individual blue chip stocks like nvdia/tsmc and 5% into btc. you could probably go 100% spy if you really dont care about anything. set up automatic investing and go on with your life. dont bother looking in your portfolio.

>>61091054 (OP)
Buy 25k worth of bitcoin, keep the remaining account as a cash buffer
understand how to self custody it so you cant get rugged
sit on it for 10 years without selling it

>>61094590
civilization will not go back from blockchains once there were energy sources and computers able to run them on

>>61091054 (OP)
Get a gf. Seriously

>>61091054 (OP)
>What do I do with this?
Buy gold mining stocks
Check out /cmmg/

im in the same situation was thinking about buying a condo or a truck and hiring a driver

>>61094590
Precious metals have been manipulated for decades, so the price is unnaturally low. This isn't a doomsday prep thing, this is a "make a lot of money when sanity returns to the market" thing.

>>61095078
>buy 25k worth of tulips
lol. lmao, even.

>>61091054 (OP)
100% physical silver, unironically.