My partner and I are both a little younger than 30, and I wanted to get the board’s opinion on if I am missing any simple investment/savings strategies.
- Dual income, no kids. We both make 6 figures
- no student loans
- We save about 60% of take home pay
- both of us max out our 401ks. My job doesn’t match anything
- own the home we live in, has appreciated by at least 25% since purchased 3 years ago. Locked in a 3% rate and put 20% down on it
- I have an IRA (I don’t know what kind it is, it’s on the Merrill app)
- We have bought some short-term bonds in the past year just as a safe investment when the market was recently a shit show, but I don’t think we’re going to keep doing that for much longer as we look to buy a real house
- I own 1 stock, Microsoft, and I have 1 small mutual fund that I couldn’t tell you anything about outside of who it’s with. It’s Janus if that means anything
- Was fortunate enough to be handed down the leftovers from my 529, so that account is already started in the event I am lucky enough to have a healthy mini-Johnhugh that is also smart enough to go to college
- looking to buy a house suitable for starting a family in (live in a condo right now) in the next year or 2 (of course right as interest rates are ridiculous)
My partner is a CPA and as you might would expect handles most of the finances. My extent of financial strategy in the household was recommending that we only use our personal checking accounts for autopay bills and then connecting it to something like Venmo. I thought this was a good idea so that in the event that a venmo account gets hacked or something like that then we’re only out a few thousand. The joint account which is basically our main savings account is not connected to any online service.
I’ve recently had my interest piqued by dividend stocks. What exactly are dividend stocks? How do you get the dividend and then reinvest it?
What are the board’s thoughts on high-yield savings accounts?
I’m not buying crypto or some dumb shit like that
- Dual income, no kids. We both make 6 figures
- no student loans
- We save about 60% of take home pay
- both of us max out our 401ks. My job doesn’t match anything
- own the home we live in, has appreciated by at least 25% since purchased 3 years ago. Locked in a 3% rate and put 20% down on it
- I have an IRA (I don’t know what kind it is, it’s on the Merrill app)
- We have bought some short-term bonds in the past year just as a safe investment when the market was recently a shit show, but I don’t think we’re going to keep doing that for much longer as we look to buy a real house
- I own 1 stock, Microsoft, and I have 1 small mutual fund that I couldn’t tell you anything about outside of who it’s with. It’s Janus if that means anything
- Was fortunate enough to be handed down the leftovers from my 529, so that account is already started in the event I am lucky enough to have a healthy mini-Johnhugh that is also smart enough to go to college
- looking to buy a house suitable for starting a family in (live in a condo right now) in the next year or 2 (of course right as interest rates are ridiculous)
My partner is a CPA and as you might would expect handles most of the finances. My extent of financial strategy in the household was recommending that we only use our personal checking accounts for autopay bills and then connecting it to something like Venmo. I thought this was a good idea so that in the event that a venmo account gets hacked or something like that then we’re only out a few thousand. The joint account which is basically our main savings account is not connected to any online service.
I’ve recently had my interest piqued by dividend stocks. What exactly are dividend stocks? How do you get the dividend and then reinvest it?
What are the board’s thoughts on high-yield savings accounts?
I’m not buying crypto or some dumb shit like that
