/biz/ - Business & Finance

>>15160674
depends on a few different things

1st steps to follow

Retirement wrapper

Money Planning

Retirement steps to do

So I've just gotten comfortable with my job as a web developer. I want to make something on my own time, and go the whole entrepreneur / startup route.

Anyone have some (silly, dumb, fun, whatever) ideas they'd like to bounce around, but can't do themselves due to lack of skill / funding / desire / etc.? If you're sure your idea is good, it's probably best to keep it to yourself, of course :)

Thanks /biz/.

Honestly, this is the simplest infogragh I've seen on how to become wealthy over time.

Hi /biz/. Noobie question here.

Let's say you're a young professional who has absolute zero net worth. You follow >pic related but you're not able to save more than ~$23k per year (401k max + IRA max) because your job isn't that good.

So all of your investments are sitting in either an IRA or a 401k?

How do you put down the down payment for a home without incurring tons of penalties (capital gains + early withdrawal)?

My understanding is that a Roth IRA allows you to withdraw $10k for a home without any penalties, but $10k is nothing.

Should I be strategically be putting money into a non tax preferred brokerage account because I know that I'll need it to buy a home in my late 20s/early 30s?

What do you guys do? Is there a simple way to handle this conundrum?

>>628630

>Keep at least 6 months worth of expenses liquid at all time. Given that you're still a student and don't have a job secured, and given that the job market sucks, make it a year's worth.
>Open Vanguard account
>Dump half of yearly max into roth 401k, other half of yearly max into traditional 401k. disregard retards who think they can predict the future
>dump half of yearly max into roth ira, other half of yearly max into traditional ira. disregard retards who think they can predict the future.
>put the rest into a standard brokerage account.
>with 1/3rd of your investment portfolio, buy a no fee US index fund ETF. with another 1/3rd, buy a no fee foreign index fund ETF. with the final 1/3rd, buy a no fee long term bond ETF.

this is the simplest way to guarantee an 8% yield on your money. you don't need a financial advisor. you don't need to buy land or to become a landlord. this the most idiot proof, secure way to grow your wealth in the history of the world. it's a new age. anyone looking to take a commission to managing your portfolio is a con artist.

when you get your first job, save at least 15% of your earnings. with your nest egg your goal should be 8 figures by the time you die.

>>627297

everything you need to know

>>613701
>>Age
39
>>Savings/ net worth
30k taxable investments
170k 401k
>>Debt
0$
>>Monthly income
8k gross
5k net (After 401k, HSA, etc)
>>Financial question(s)
If I don't buy this year and put it off till next year there is a chance I may not buy at all. I may just rent until I can afford a house (at/near) the gulf coast. Any thoughts? Buying could save me a ton of dough in the long term but I hate the idea of being tied to a location or property.

>>607948
>do I need to look at it from a 'I need to have a return larger then my student debt interest rate' angle?

Yes and no. If it's retirement then put it in and don't worry about returns in the short term. Invest it well and leave it. If you have extra money

See pic related.

>>591604
>spend it
forget this words

picrelated is boring tldr
401k = SIPP
IRA = Cash ISA

Hey /biz/,

So let's say that I have a really solid business idea that would a net income of $1.3m a year with expenditures at $511,000.

And to start said business, I would like $2m in capital. To buy products, rents, and a few employees. There would be approximately $1.5m in physical liquid assets from the beginning to use as leverage, if that's even possible to do.

I live in a big city in the USA, so there is a client base and there is very, very little competition.

TL;DR: Where and how to get a $2m loan.

>>482337
>So, how does it work, and what do you need to get started?
just don't

>>476302
>lessening your needs to match your wealth
What's what I do atm. Frugal living, cutting expenses, minimalism, educating myself about personal finances

>>473443
I would say: do what makes money and enjoy the grind

Having started my first job about 2 months ago, only about 4k. I try to follow pic related.

>>432202
yeah, no.

you need to look at your ENTIRE situation when dealing with money. remember, it's a stupidly important resource that you shouldn't treat lightly.

here's a rough guide.

i want to open a brokerage account the only thing that stops me is the taxes. I live in the US and from my understanding you have to pay tax on capital gains and all that what I'm confused about is who reports it and if the initial deposit is taxed as well.

do i have to go through each and every transaction i've ever made or will the broker handle that and send it to the its?

What (online) brokers does /biz/ use?

Which is the best? Why?

Has anyone used vanguard? How is it?

pic unrelated but yeah

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