Paid off student loans, check
Paid off car, check
Saving 30% of gross a year, check
But... what do I do now? It's just sitting there. Best idea I have is to move the money to the capital one high interest savings account... but I know there must be a better option out there. I usually shy away from investing because my instincts about companies haven't always been good (I once predicted Apple would go crashing down to 50) but open to suggestions.
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take $100,000 and invest it in bitcoins & altcoins
you will have $200,000 by this time next year
If he invests in BitBean he could be a Miller in a couple months
Man you are a moron for putting that much cash in a savings account. You could be a millionare and retired now if you had been putting that money into crypto. Anything is better than a savings account.
>$140,000
thats all i need to pay off my moms home :/
daytrade with 50k
There is no reason to keep any amount above your expenses and emergency fund in your bank account. Shying away from investments was a mistake but it's better to start now than later.
Depending on where you live you could put a nice down payment on a rental property or open a side business with what you have.
Index funds if you're risk adverse, ETH or XRP if you're not.
Well, damn, wish I had found this board sooner. I considered crypto a few years ago but found it a little bit shady seeming... guess I should read up on it.
Here's my bimonthly net paycheck.
Of course being a millionaire sounds good. What's the deal with BitBean?
bogleheads.org
pick one of these, rebalance yearly. that's all there is to it.
>What's the deal with bitbean
Bitbean is a shitcoin that shills are trying to pump, the main argument they're using to shill it is that the dev is an autist and that he wants to make a cartoon, I'm not even kidding.
wait for the BTC dip... it'll dip soon. buy 100k and forget about it for 4-5 years.
>doesn't tell him what to wait for...
Bitcoin halves their payout rate for miners every 4 years. typically it pumps up at this time. We just had a halving.
Next halving is 24 June, 2020
Will help just cus its good to see another USAA'er
First off cut that checking down to minimum - the bank is laughing at you keeping 121K there
Put most of that into an SP500 index fund (SPY, etc) so say 90K
Try your hand at picking stocks with 15K, though based on your estimate of Apple's stock price movements don't expect much (protip: AAPL has 250 billion cash on hand with 5.xbb shares - cash value alone per share is close to 50)
Maybe 5-10K into crypto with a split along different coins (eg 40% BTC 20% LTC whatever)
Keep ~5K 'dry powder' for interesting opportunities that may pick up
You already have 6-12 months of expenses in checking so thats chill
Index funds. Unless you predict a significant market crash in the next months, dump everything into 3-4 index funds. Forget about it and then when a recession could happen get the fuck out and enjoy.
Anyone using Robinhood for ETFs?
Sat on the sideline like a piece of shit for the past year expecting a crash. Should have dumped it all in there and set a stop loss.
Thinking of throwing the extra mortgage payment into there too each month too.
Fuck that 1% return on the bank. I was such a pussy.
several people do, but when you grow up you will probably want a real broker
I used to use Trade Kings prior to Robinhood to dick around - not too sure what I'm missing given the trades are free.
Is it a good time to buy bitcoin since it's dipping?
Thanks, fellow USAA'er -- sounds like a good and balanced approach. How have you done recently?
FYI I was kind of thinking that I would buy a house but I ended up having to stay with family (my Dad died and they need support) so I may as well put it into something else.
I would wait until the Ransom virus scare dies down.