Personal Finance

3803 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

Totally clueless with investing, $100k sitting in the bank earning 0.05%. How do I get started? Please advise. (lemmy.world)

submitted 2 months ago by [email protected] to c/[email protected]

41 comments fedilink hide all child comments

I have been putting part of my paycheck into a high yield savings account, but haven't bothered with investing it in a responsible manner partially due a fear of losing the money due to bad investments. I'm finally realizing how much potential money I've lost by letting my money stagnate. Please advise me on how to responsibly invest my money, thanks!

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 2 months ago (1 children)

Is there a national level recommended fee only fiduciary, or is it better to seek out a local company?

[–] [email protected] 3 points 2 months ago* (last edited 2 months ago)

I'd go local. But if you want something online, I generally trust The Money Guy show on YouTube, and they operate a fee-only advisory called Abound Wealth, so you could check them out if you're interested. Check out some of their videos and see if you like what they say, I imagine their advisory services would be similar, just more focused on your specific situation (in particular, check out the Financial Order of Operations).

I like their advice way better than Dave Ramsey (Ramsey is way too anti-debt, and way too aggressive on retirement asset drawdown), and their content is really accessible while not being too dumbed down.