keanwood wrote:State of Residence: Western half of the united states. (I would rather not say for privacy reasons.)
Desired Asset allocation: 100% stock?
Desired International allocation: ?
I can't open a Roth IRA because all of my money is poker winnings so i have not payed taxes on it. I have built up more than i can reasonably use(invest) at the tables. So i am looking to purchase one of the four following funds:
1. 500 Index admiral shares. VFIAX
2. Total Stock Market Index admiral VTSAX
3. REIT Index admiral VGSLX
4. Small cap index admiral VSMAX
They all have $10,000 minimums. I am looking to hold on to this investment for like 40+ years.
keanwood wrote:Thank you all for your advice. I have one question about my taxes(or lack their of). If I start paying taxes on my winnings is that going to be standard income tax rates or is it a capital gains tax rate?
robertalpert wrote: Until you have alternative means of more reliable income, equity should not be on the proverbial table.
All I know about poker comes from novels and movies, i.e. I know nothing about it, and if this is silly or wrong I'm certainly interested in hearing more about what you do. It seems to me that:keanwood wrote:But I curious why you think my income is not reliable? I know it sounds risky but in the last two and a half years I have been able to consistently pay all of my living expenses and my tuition ( both of which are very low) for college and also build up a years worth of living expenses.
But I curious why you think my income is not reliable? I know it sounds risky but in the last two and a half years I have been able to consistently pay all of my living expenses and my tuition ( both of which are very low) for college and also build up a years worth of living expenses. So i don't understand why equity should not be an option for the 10,000 that is not apart of my emergency fund.
I am very happy to have found this forum. My uncle bought me the book " boogleheads guide to investing" and i liked it very much.
keanwood wrote:I decided to go with the Total Stock Market Index admiral VTSAX
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