Finances of 2+2ers

[NT!]

23, in grad school. have only a few K in the bank. figure to be about 50-60k in debt after i graduate in may 2008.

[daryn]

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money market bank accounts often suck. if they're not around 5% look into "no risk CDs". i hadn't heard of these either, but bank of america has 9 month CDs for around 5 points with no withdrawal limits or penalty.


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yeah, i have some dough in one of those 9 month CDs at BOA right now.

money market bank account does suck. it's like 3 something percent if that. could get more just going ING.

index funds, mutual funds.. do you basically just contact fidelity, prudential, whatever and just say "make me some money"? if i could get like 8-9% like vanessa was talking, that would be hot. i know it's not a guarantee though.

[cbloom]

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daryn, everyone yaps about roth iras but you can't contribute if you make more than like 100k.

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This is no longer true or something. BTW go to Finance forum for solid basic investing advise.

[AZK]

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ballin baby

i am looking to "invest" but have no idea what to do. i'd like to buy my own home/condo/townhouse within the next 9 months or so. i should probably look into an IRA, whatever that is. right now i have some dough in CD's, some in money market bank account.

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I keep a few thou in a regular bank checking/savings account for monthly bills and expenses, a larger chunk is in ING gaining 4.5% or whatever, the rest is invested. (I got lucky, my best friend's dad is a big investment guy, he basically did all my investing, just told me 4-6 funds to pick up and then just to not touch it for as long as possible) Whenever I can invest money I ask him how to distribute it based on my current portfolio. ING also has a few different funds that they weight differently depending on your goals, for [censored] and giggles I decided to invest in their long term high risk fund (they suggest doing this if you will not need the $ for the next 10 years min.) which was a collection of sci/tech, emerging markets, some other stuff...

I guess I just lucked out but you can also do a ton of reading/research on the internet, I follow a few blogs and read some sites here and there, but basically I like to just buy something and then not worry/trade for as long as possible, I check it every now and then, but I'm not really concerned with it. I have no interest in trading daily/weekly, I just want to buy something and then every few years make a few adjustments... really depends on your goals/if you need the $. The money I have invested is money that I don't really consider in day to day life. I just want it to grow as much as possible for as long as possible.

edit: I'm slowly starting to get more interested in it so I've bought a few books and plan on reading, but again, not with the intentions of being an active trader.

[daryn]

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daryn, everyone yaps about roth iras but you can't contribute if you make more than like 100k.

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This is no longer true or something. BTW go to Finance forum for solid basic investing advise.

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i have a feeling you will get better financial advice in the diablo forum than the finance forum

[gusmahler]

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daryn, everyone yaps about roth iras but you can't contribute if you make more than like 100k.

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This is no longer true or something.

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It is still true.

https://flagship.vanguard.com/VGApp/hnw/...Out1Content.jsp

[DLizzle]

was getting there in 06, now bubbling

[mak15]

21, balla.

[NoahSD]

Is there any point in bothering to invest if I've only got like 10k outside of my BR? If so, what should I invest in?

[Billy Bibbit]

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Is there any point in bothering to invest if I've only got like 10k outside of my BR? If so, what should I invest in?

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It should at least be in a savings account getting 5%. I'm not sure whether it'd be worthwhile for you (or me) to invest in the market, and I'd be interested to hear what anyone else has to say.