View Poll Results: Where are you putting spare cash?

Voters
58. You may not vote on this poll
  • In the safe, as nothing but cash

    8 13.79%
  • Stock market

    12 20.69%
  • 401k or other retirement specific savings

    12 20.69%
  • Real estate investing

    1 1.72%
  • Gold and other precious metals

    4 6.90%
  • Land or home improvement for personal use

    5 8.62%
  • Paying off ALL debt

    16 27.59%
  • Guns, ammo, and prepping

    12 20.69%
  • A little bit of everything

    18 31.03%
  • Other

    8 13.79%
Multiple Choice Poll.
Page 3 of 7 FirstFirst 12345 ... LastLast
Results 21 to 30 of 69

Thread: What're you doing with your money in 2023? Or what do you recommend others do?

  1. #21
    Gucci gear, Walmart skill Darth_Uno's Avatar
    Join Date
    Aug 2017
    Location
    STL
    Quote Originally Posted by rob_s View Post
    Curious to hear to what extent people are putting money into index funds these days?

    Historically they have outperformed something like 75%+ of financial advisers, but they are getting a lot of press the past few years which leads me to believe maybe their time has come. I have a theory that if too many people are just buying index funds then that starts to flatten those index fund curve, but I’m not an economist so I can’t prove it.

    I suppose it wouldn’t be there hard to look at historic rate of return on various index funds (vanguard being the oldest / biggest I know of) and compare it to inflation and the markets in general and see if they’ve flattened…
    Pretty much 100% in SPY, QQQ, and it's Vanguard equivalents. People with far more resources than I have tried to crack the code, but it's really almost impossible to predict where the entire market will be in a week, a month, or a year. And even less so with individual stocks. The only thing that's a bit more certain is it'll go up at a roughly even pace on a long enough timeline, which is what I'm banking on; I have time and can ride out the dips to (hopefully) capitalize on long term growth. Now if I was closer to retiring I'd probably take a different approach and focus more on conserving what assets I already have, and switching to generating income whether that's with dividend funds or CD's.

  2. #22
    Not financial advice.

    A Roth IRA maxed every year, invested in the Jack Bogle fashion, i.e. simple index funds. My preference is VTI. A simple 4 fund portfolio would be VTI, VEA, VWO, and BND.

    Gold and silver coins and bullion bars, in your possession. I view this as my long term savings account - not an investment. Maintains my purchasing power over the long term.

    Emergency cash at home, in the safe. $1,500 is a good number to me.

    At least 2 bank accounts. A local bank with lots of ATMs and branches, and a big GSIB bank (think Goldman Sachs).

    A big emergency fund in a high yield savings account. I like a year's worth of expenses, held in a Marcus account.

    6-month treasuries look good right now, if you can deal with the crappy Treasury Direct website.

    Your home should be a domicile, not an investment. But that's just me. Real estate appraiser for 25 yrs.

    Bitcoin as a speculation.

    Debt is a millstone around your neck. If you have debt, check out Ramsey Solutions.

    I follow Lyn Alden very closely. lynalden.com The Bogleheads Forum is a good place to visit as well.

  3. #23
    The R in F.A.R.T RevolverRob's Avatar
    Join Date
    May 2014
    Location
    Gotham Adjacent
    Managing a meager investment portfolio, which I have stayed flat on for awhile, it's mostly funds with a few individual stocks. I monitor it about once every quarter and contemplate my moves. For instance, I bought in to commodities funds middle of last year to hedge against rising inflation. That has worked out well overall, keeping me moderately in the black, despite the increasing market volatility. It's not rocket surgery, just being aware of the world, really.

    Main focus at present is paying down some not insubstantial debt accrued over the past 2-years due to two cross-country moves and a period of unemployment for me. Not happy about the debt accrual, but that's the nature of life, unfortunately. Fortunately, with my current position running 3-4 years in length, we'll be able to clear the ledgers, build up additional savings over an emergency fund, and increase investments back up over the next 24-months. My goal is to get us to a point where we can have a modest down payment for a house as part of the next move, it will depend on a number of factors (mostly where we move to).

    As always for me, retirement is for the birds, in my opinion. We're managing multiple income sources with long-term plans to generate more income sources. I have no intention of ever retiring and want to work until I die. It's the way my grandfather went and my dad went too. They both worked until the last 6-months of their lives and I'll be damned if I don't do the same.
    Last edited by RevolverRob; 03-14-2023 at 10:03 AM.

  4. #24
    Member Wake27's Avatar
    Join Date
    Jun 2017
    Location
    Eastern NC
    I appreciate everyone’s feedback so far. I’d never even heard of treasury bills so definitely have learned a few things already.

    One maybe ignorant question but especially in light of the SVB stuff, does everyone split the money that they have in different banks? Right now, all of my money is in one bank and while I also have accounts with a credit union, I just never use it. Seems like a prudent first move would be to split the money staying in a bank into at least two banks? Or does it really not matter since it’s under the 250k FDIC limit?


    Sent from my iPhone using Tapatalk Pro

  5. #25
    banana republican blues's Avatar
    Join Date
    Aug 2016
    Location
    Blue Ridge Mtns
    Quote Originally Posted by Wake27 View Post
    I appreciate everyone’s feedback so far. I’d never even heard of treasury bills so definitely have learned a few things already.

    One maybe ignorant question but especially in light of the SVB stuff, does everyone split the money that they have in different banks? Right now, all of my money is in one bank and while I also have accounts with a credit union, I just never use it. Seems like a prudent first move would be to split the money staying in a bank into at least two banks? Or does it really not matter since it’s under the 250k FDIC limit?


    Sent from my iPhone using Tapatalk Pro
    You're fine if you're under the limit.

    Bear in mind that if you are married, you can have an account, your wife can have an account, and you can have a joint account...each of which will enjoy $250K FDIC coverage. That brings you up to $750K.
    There's nothing civil about this war.

    Read: Harrison Bergeron

  6. #26
    Quote Originally Posted by Wake27 View Post
    I appreciate everyone’s feedback so far. I’d never even heard of treasury bills so definitely have learned a few things already.

    One maybe ignorant question but especially in light of the SVB stuff, does everyone split the money that they have in different banks? Right now, all of my money is in one bank and while I also have accounts with a credit union, I just never use it. Seems like a prudent first move would be to split the money staying in a bank into at least two banks? Or does it really not matter since it’s under the 250k FDIC limit?

    Sent from my iPhone using Tapatalk Pro

    Your money is secure, if it is currently below the 250k limit. No one has lost a dime since FDIC came about. The key is time. It could take a bit of time to recover your funds. There are lots of reasons to have at least two banks, though. I like simplicity, but I always maintain at least two banks. I prefer a local bank with lots of branches and ATM's, and a GSIB bank. They will always get a bailout.

    Ally is great, but for a pure high yield savings, Marcus can't be beat. Capital One 360 is good, especially if you already have a Cap One credit card.

  7. #27
    Member Wake27's Avatar
    Join Date
    Jun 2017
    Location
    Eastern NC
    Thanks guys, I kind of came to the FDIC conclusion as I was typing but figured I’d ask anyways.

    I also just realized that I really have three banks since I recently got a Chase credit card. I use USAA as primary and Navy Federal is secondary. I could open checking and/or savings with Chase, I just haven’t since I really only was looking for their Platinum travel card.


    Sent from my iPhone using Tapatalk Pro

  8. #28
    If I had it to do over again, and was a younger man, I would do the following - (and many people who are smarter than me, say the same thing)

    1. Stay out of debt, as much as humanly possible.

    3. Invest in a Roth IRA, as well as any employee provided plans. Max them out.

    4. Buy a few gold and silver coins at every big price dip, and throw them in the gun safe.

    5. Keep and maintain a budget. You need to know where your money is going.

  9. #29
    banana republican blues's Avatar
    Join Date
    Aug 2016
    Location
    Blue Ridge Mtns
    In case I wasn't clear in my post above @Wake27 ...

    In the example I gave, you could have $750K in that one specific bank using the method I mentioned. And you could repeat the same in each additional FDIC insured institution you might choose to open accounts with.
    There's nothing civil about this war.

    Read: Harrison Bergeron

  10. #30
    Member Wake27's Avatar
    Join Date
    Jun 2017
    Location
    Eastern NC
    Quote Originally Posted by Clay View Post
    If I had it to do over again, and was a younger man, I would do the following - (and many people who are smarter than me, say the same thing)

    1. Stay out of debt, as much as humanly possible.

    3. Invest in a Roth IRA, as well as any employee provided plans. Max them out.

    4. Buy a few gold and silver coins at every big price dip, and throw them in the gun safe.

    5. Keep and maintain a budget. You need to know where your money is going.
    I've heard most of these many times. It took me a few years of having a balance on my CC to realize how little of my monthly payment was going towards the principal so I have just enough first hand experience to never want to get to that point again. I need to look into the gold and silver, I know historically that has been a huge asset but without ever following it and my only limited source of personal info being a heavy 401K and stock market proponent, I'm uncertain of how it could be relevant today.

    Quote Originally Posted by blues View Post
    In case I wasn't clear in my post above @Wake27 ...

    In the example I gave, you could have $750K in that one specific bank using the method I mentioned. And you could repeat the same in each additional FDIC insured institution you might choose to open accounts with.
    Nope, it was clear, thanks. Got a ways to go before that becomes a problem...

User Tag List

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •