KReddit934

KReddit934 t1_iudruig wrote

Read this about how to not gamble with retirement savings.. https://jlcollinsnh.com/stock-series/

Then look for something that gives you a dopamine hit that doesn't involve money.

(Or if you still are fixated on money, have you tried radical frugality? Making a game of how little you pay for things and how to get by with less..watching your savings grow and grow?)

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KReddit934 t1_iucwr3k wrote

The online only "high yield savings accounts" pay much better than a regular bank account. Read reviews and pick one with FDIC insurance (and may that's been around a while?) Discoverbank, Ally.com, Marcus are all big players. Ally has a nice "Buckets" feature where you can sort out what the money is "for."

Open the account and link it to your existing checking account to move money back and forth. Remember that transfer take a few days so plan ahead to keep enough money in your checking account.

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KReddit934 t1_iu98fln wrote

Check out the book by JL Collins, A Simple Path to Wealth. (Or his blog https://jlcollinsnh.com/stock-series/)

Nothing stopping you from doing the simple path to secure your future, and working on your business. A business can be great, but it's a "many-will-play-few-will-win" path, so plan for success and failure.

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KReddit934 t1_iu7ikaf wrote

Because the bank interest rate for saving is so low, many people open a seperate online savings account (check out Ally, CapitalOne360, DiscoverBank, or Marcus, among others.) Then you link the two accounts and can transfer money back and forth. Current these accounts are running at or just under 3% interest.

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KReddit934 t1_iu77nho wrote

I think you are doing great. Maxing Roth is smart at 12% bracket. Taking advantage of 401K is good, too.

Just make sure you have a strong Energency Find so you don't need to tap that retirement money, and you both have life insurance.

Enjoy what sound like a great start to a secure life.

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