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solipsist comments on Simple investing for a complete beginner? (Just… developing world index funds?) - Less Wrong Discussion

-5 Post author: Owen_Richardson 22 August 2013 07:15AM

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Comment author: solipsist 22 August 2013 05:07:06PM *  2 points [-]

Cookbook for standard best practices in the US:

  1. Open a Roth IRA account
  2. Select a fund for when you retire
  3. Contribute $5000 every year to that fund.
  4. If you have money left over, or make more than $50,000 per year and so should be saving more than $5,000 per year, set up a general savings account with the same target retirement fund.
  5. Keep your other finances in order. Keep enough cash in your bank account to last you at least 2 months, preferably 3 or more, plus $1000. Emergencies will happen. Don't do anything stupid like acquire credit card debt. If you follow only one step, follow this step.
Comment author: Owen_Richardson 22 August 2013 05:45:02PM *  -2 points [-]

Yeah, I actually just discovered that I've gone completely off the deep end, so your sane and measured advice is completely useless to me, sorry. xD

( 1. Nope 2. What is this "retire"? 3. Nope. 4. Ha ha ha what. 5. Well yeah, of course. )

I think I'd edit in a notice to the top of the post so other well-meaning folks like you don't get tricked into wasting your time trying to talk sense into a total nutcase like me. :)

(I appreciate all y'all, though. ^^ )

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