ASK DN: Do you contribute to retirement funds?

almost 3 years ago from Art Vandelay, Latex Salesman - Vandelay Industries

  • Joe BlauJoe Blau, almost 3 years ago

    I definitely do. I used to trade stocks but I was looking for more passive investments.

    Note: I'm not a financial manager and you're investing at your own risk

    If so, what kind?

    Wealthfront - I use this for all of my retirement investments (IRA/401's) if I can. I also have some funds that I invest in though that site.

    Coinbase - I've been investing in crypto currencies a bit recently. Keep in mind that the crypto space is really a crap shoot and you need to do a lot of research to avoid scams. That being said, Coinbase is a good user friendly entry point into a few currencies.

    Angel List - Startup investing is something I'm just getting started with. I don't have enough net worth to invest on my own, but you can invest alongside other investors in a fund. This generally requires a lot of work and almost needs to be a full time job if you want to make money, but it can be cool to really put your money where your mouth is. A lot of times, people say some project is awesome, but would never back it.

    how much?

    This is really as much as you feel comfortable with. Most investment sites have risk profiles that help gauge how much you're willing to put in. If any one of my investments went to zero right now, I wouldn't freak out just as long as they all didn't.

    How interested are you in that kind of stuff?

    In terms of interest, I'm relatively interested but only from the standpoint of having my money work for me while I work. I know a few people in the financial industry who were pretty much set for life before they reached 30. I still focus most of my efforts on work and building a project that I can work on beyond retirement. My dad retired and got bored really quickly. I think finding something that you're really passionate about outside of money is really what's going to bring you lifelong joy.

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