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What retirement fund do you have??

Lyft and Uber both are offering IRAs for drivers. Lyft works with Goldman Sachs and Lyft with Betterment.
Lyft offers a Pep IRA for 1 dollar a month plus .25 percent per year on your balance (if over 5000) dollars.
Are you guys using any of these two and or another cheaper of higher yield options???
 

Pax Collector

Well-Known Member
Lyft and Uber both are offering IRAs for drivers. Lyft works with Goldman Sachs and Lyft with Betterment.
Lyft offers a Pep IRA for 1 dollar a month plus .25 percent per year on your balance (if over 5000) dollars.
Are you guys using any of these two and or another cheaper of higher yield options???
Is there any link to this? I haven't heard of such a thing.
 

Grand Lake

Well-Known Member
I'm trying to time it so that I get 1 Social Security check right before the federal government declares bankruptcy.

I wouldn't involve Lyft or Uber with my retirement planning. Odds are you're not going to be working for them for very long, at least in the present form.
 

ECOMCON

Well-Known Member
Lyft and Uber both are offering IRAs for drivers. Lyft works with Goldman Sachs and Lyft with Betterment.
Lyft offers a Pep IRA for 1 dollar a month plus .25 percent per year on your balance (if over 5000) dollars.
Are you guys using any of these two and or another cheaper of higher yield options???
I have a hose that attaches to my exhaust pipe leading to the interior cabin.
Growing old in this country is cruel on just about every level
 

Wahood

Well-Known Member
I put in $20k in a stock playing it for the long term.. this stock will determine whether ill be broke in 30 years or ill be comfortable..
Playing it safe is just not worth it
 

Grand Lake

Well-Known Member
If you have a 30 year horizon, you'd be a heck of a lot better off putting that money into something like the Vanguard 500 index fund, or the one they have that mimics the whole market with a mix of stocks and bonds. Put more money into it on a fixed schedule, or when you can afford to. Just let it grow (which it will, unless the world basically ends, in which case you have bigger problems); never touch it.

Buying shares in a single company is gambling, not investing.
 

dragnet

Well-Known Member
If you have a 30 year horizon, you'd be a heck of a lot better off putting that money into something like the Vanguard 500 index fund
Exactly!!! Because:

a) Over that time frame you'd be extremely unlikely to pick stocks that will beat the S&P
b) At an expense ratio of 0.04% and management fee of 0.03%, that will save AND make you much more money

From there just let the magic of compounding work for you.
 

angel707

Active Member
i’d love to find stock that can fly to the moon > 100% in a day and short it at the top like some wolf of the wall street lol

upload_2019-1-19_22-34-53.png
 

Wahood

Well-Known Member
If you have a 30 year horizon, you'd be a heck of a lot better off putting that money into something like the Vanguard 500 index fund, or the one they have that mimics the whole market with a mix of stocks and bonds. Put more money into it on a fixed schedule, or when you can afford to. Just let it grow (which it will, unless the world basically ends, in which case you have bigger problems); never touch it.

Buying shares in a single company is gambling, not investing.
Not necessarily true..
Investing in a growth company is not gambling if you get educated about that company..
Imagine had you invested in Nvidia, Netflix or Amazon when they first public lol.. 20k wouldve turned into a mill now..
 

dragnet

Well-Known Member
Imagine had you invested in Nvidia, Netflix or Amazon when they first public lol.
Problem is, when Nvidia, Netflix and Amazon were around at their IPO there were also 100's of other similar companies. Your chances of picking Nvidia, Netflix and Amazon as winners would be functionally zero.

Even Venture Capital people play the broad distribution game. Invest in 10,000 small startups and one might end up being Google, and that will cover your losses on the other 9,999.

What Vanguard did with index funds was to create a really simple way for regular people to get the maximum return on their investments. And if you have a 30 year window for your investing, at the end of that 30 years you will have a very healthy next egg by just putting your money in an S&P index fund. Try: VOO
 

Okphillip

Well-Known Member
Do NOT buy individual stocks. Ever. I lost 99% on Adeptus healthcare, 45% on Skechers, 90% on Dryships, 45% on Ford.....I can add a fee more to this list too where I lost my entire investment.

Stick with Vanguard mutual funds. I also have different tax lien notes that pay 7% per year fixed interest. I managed to add about $70,000 to my net worth in year 2018 mostly based on savings and investments....you need to save save save....no more $5 lattes every day....this plus steady investing is the key. Also it helps if you have no kids and a cheap rent-controlled apartment.
 

turtle75

Member
Problem is, when Nvidia, Netflix and Amazon were around at their IPO there were also 100's of other similar companies. Your chances of picking Nvidia, Netflix and Amazon as winners would be functionally zero.

Even Venture Capital people play the broad distribution game. Invest in 10,000 small startups and one might end up being Google, and that will cover your losses on the other 9,999.

What Vanguard did with index funds was to create a really simple way for regular people to get the maximum return on their investments. And if you have a 30 year window for your investing, at the end of that 30 years you will have a very healthy next egg by just putting your money in an S&P index fund. Try: VOO
Vanguard funds inside of a SEP or Roth IRA
 
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