Search found 13 matches

by cjzimmer2
Thu Sep 17, 2020 8:45 pm
Forum: Personal Investments
Topic: Where to start - advising my DS #1
Replies: 8
Views: 1033

Re: Where to start - advising my DS #1

Keep the TDF and add S&P500 index if he has that in 401k or TSM. Put like 80% in S&P and 20% in TDF. Schwab Retirement Government Money (SNRXX) Money Market Vanguard Short-Term Infl-Protect Sec Idx (VTAPX) Inflation-Protected Bond Vanguard Short-Term Invt-Grade (VFSUX) Short-Term Bond American Cent...
by cjzimmer2
Wed Sep 16, 2020 1:14 pm
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

As far as the ETF v. Mutual Fund distinction....Vanguard is currently converting most of its core funds to ETFs. The only significant difference between a fund and ETF is that ETF's trade like stocks, so their prices fluctuate during the day as the market goes up/down. Also, expense ratios for ETFs...
by cjzimmer2
Wed Sep 16, 2020 11:50 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

You don't have to take my advice, but none of the behavior you describe sounds normal. Having a total of four semi-friends at his age, and it sounds like he doesn't spend much time with them either isn't normal. "He won't even speak to a female outside of the family if he doesn't absolutely have to...
by cjzimmer2
Wed Sep 16, 2020 11:15 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

Focus on the big issues. Being able to find a job which pays more than $23k/year is going to be exponentially more important than whether the $6k in a Roth is 90/10 or 100/0. From the way, you emphasized EXTREME introvert, I suspect some mental health issues may be involved. Has he ever been tested...
by cjzimmer2
Wed Sep 16, 2020 9:59 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

FWIW, my DS is a few yrs younger and earned about 3,500 last year. I opened a Roth IRA for him @ fidelity and match his contributions. So he contributed 1,750 and I matched that for 2019 all in FZROX, and that’s the plan until he finishes college. So is that as mutual funds or as ETF's? (I'm assumi...
by cjzimmer2
Wed Sep 16, 2020 12:57 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

Just had a long talk with DS #2 about finances. He's had conversations with the youth pastor in the past so he was already planning on saving at least 50% of his income. When I explained about how the Roth IRA worked, he was totally fine with fully funding it for this year. He was hoping to buy a ga...
by cjzimmer2
Tue Sep 15, 2020 11:24 am
Forum: Personal Investments
Topic: Where to start - advising my DS #1
Replies: 8
Views: 1033

Re: Where to start - advising my DS #1

If 401k has Roth option that is fine. Easier since money comes straight out of check. Just know that money will be split between whatever his 401k choice are. If wants all stock open a Roth IRA Thank you. That sounds nice and easy. He's currently invested in it the retirement target year groups (20...
by cjzimmer2
Tue Sep 15, 2020 10:38 am
Forum: Personal Investments
Topic: Where to start - advising my DS #1
Replies: 8
Views: 1033

Re: Where to start - advising my DS #1

In post for DS#2 you said "we tithe 10%". Does your son Tithe off of his checks? If so since he has no debt have him do 10%. Whatever % for company match and above that start a Roth IRA. Since he started young 10% should be good and after tithes and saving whatever left is to live on. I think most ...
by cjzimmer2
Tue Sep 15, 2020 10:18 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

As 20 years old, I’m sure he wants to have a little bit of fun as well. What about dating? Out of the $8k I would assume he will want to spend some of it on fun. I agree with saving some cash, but saving 75% of such a small income appears a bit excessive to me. When I was 20 all I could think about...
by cjzimmer2
Tue Sep 15, 2020 10:10 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

It’s great that you’re starting him early. Time will be on his side. However, i would recommend not putting much into a Roth or other retirement account. Maybe just the minimum to open one and then $50 a month automatic contribution. This will get his feet wet and set up good habits. But his priori...
by cjzimmer2
Mon Sep 14, 2020 9:20 pm
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Re: Where to start - advising my DS #2

So I'm thinking the best choice for him would be to create a Roth IRA, and max it out at $6k and call it good for this year. Thoughts? I agree if you can get him to do it. $6k out of $8k gross is a lot to ask of a 20 y/o. If he does it, he should put it all in Vanguard's VTSAX mutual fund and not l...
by cjzimmer2
Mon Sep 14, 2020 8:36 pm
Forum: Personal Investments
Topic: Where to start - advising my DS #1
Replies: 8
Views: 1033

Where to start - advising my DS #1

I'm new to learning anything about investing but realize it's way past time. I've read most of The Simple Path to Wealth and browsed some on here. But I still need things spelled out pretty simply. I've also got 2 adult children who are working (and living at home) that I need to start teaching this...
by cjzimmer2
Mon Sep 14, 2020 8:12 pm
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2068

Where to start - advising my DS #2

I'm new to learning anything about investing but realize it's way past time. I've read most of The Simple Path to Wealth and browsed some on here. But I still need things spelled out pretty simply. I've also got 2 adult children who are working (and living at home) that I need to start teaching this...