#Reddit personal finance investing how to
#Reddit personal finance investing download

Consider using a 'mini CD ladder' based on CDs with shorter terms if the time frame is under 1 to 2 years and bear in mind that CDs also often have a lock up period or a significant early withdrawal penalty.

While I Bond rates are often attractive, be aware that I Bond purchases are locked up for the first 12 months and if you redeem an I Bond within the first 5 years, you will lose the last 3 months of interest (the higher interest rates compared to savings accounts will often make up for the last 3 months of interest, though).

If the idea of low interest rates is too much to bear, you can also consider using I Bonds or a CD ladder. The stock market is too volatile for any time horizon shorter than 3 to 5 years and investing for less than 10 years is risky (it's not for the faint of heart).įor any time frame under 3 to 5 years, you should just use savings or money market accounts. It's a bad idea to invest money that you will need within several years. Can you just recommend something extremely specific to get me started?Ĭommon Questions on Investing I have money that I need in a short amount of time.How should I invest in my 401(k), 403(b), SIMPLE IRA, or other employer-sponsored account with limited choices?.In what order should I prioritize my long-term investments?.Why does everyone seem to recommend Vanguard?.For low-cost index fund providers, which is preferable, Vanguard, Fidelity or Schwab?.Should I invest a lump sum all at once, or employ a dollar cost averaging strategy?.How can I start investing for retirement?.Diversify by holding funds, not individual securities.Diversify by holding different types of assets.What types of accounts should I save in?.I have money that I need in a short amount of time.Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.

#Reddit personal finance investing how to

Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.

#Reddit personal finance investing download

Also, be sure to check out the thousands of free podcasts that focus on financial-related topics they are easy to download and often help break down more complex financial concepts. However, remember that the information you find isn’t specifically tailored to your own financial goals and circumstances and that the person giving the advice may not be a licensed financial professional. Best of all, the content is free and allows you to build upon your knowledge as you go. The popular video-sharing platform has content on virtually any financial topic you’d like to learn more about, from saving hacks for helping you buy your first car to the pros and cons of buy now, pay later (BNPL) credit services. Start your financial learning journey by searching YouTube. Watch, Listen, or Read Up on Financial Topics A subscription to a publication like The Wall Street Journal or Barron’s, conversations with financial services professionals, and taking courses at the CFA Institute can all further your education.Universities offer free online courses on a myriad of financial topics.A good basic book to start with: The Richest Man in Babylon. Libraries, bookstores, and online sites can provide leads to many financial titles.

Start your online search by entering a financial topic into YouTube or browsing financial-related podcasts.

A wide variety of educational resources are available to anyone who wants to learn about finance.