| Both sides previous revisionPrevious revision | Last revisionBoth sides next revision |
| financial_advice [2012/01/02 16:52] – Link to stack exchange, crap on fool.com peterwilliams | financial_advice [2012/01/02 16:56] – Remove broken link, add FIXME peterwilliams |
|---|
| * Pay off your credit card bills. If possible, make this your most important financial priority after school, food and shelter. | * Pay off your credit card bills. If possible, make this your most important financial priority after school, food and shelter. |
| * Open a [[http://www.bankrate.com/brm/rate/mmmf_highratehome.asp?params=US,416&product=33&sort=2|high yield internet bank account]] and keep spare cash there. | * Open a [[http://www.bankrate.com/brm/rate/mmmf_highratehome.asp?params=US,416&product=33&sort=2|high yield internet bank account]] and keep spare cash there. |
| * Open a Roth IRA mutual fund at T. Rowe Price (start with [[http://www.troweprice.com/common/indexFundFacts/0,0,ticker=74149P762,00.html?rfpgid=7155&ddown=Fund_by_Name&scn=Find_a_Fund|Retirement 2045]]) and set up automatic, monthly contributions of at least $50. Aim for maxing out your IRA, if you can afford it, at $333/mo. | * Open a Roth IRA mutual fund at T. Rowe Price (start with [[http://www.troweprice.com/common/indexFundFacts/0,0,ticker=74149P762,00.html?rfpgid=7155&ddown=Fund_by_Name&scn=Find_a_Fund|Retirement 2050]]) and set up automatic, monthly contributions of at least $50. Aim for maxing out your IRA, if you can afford it, at $412 per month. (FIXME as of January 2012: is Vanguard a better IRA custodian these days?) |
| * If you've worked here for a summer already, [[https://login.fidelity.com/ftgw/Fidelity/NBPart/Login/Next|move your DCP savings]] into something like the Spartan S&P 500 [[http://badgrads.berkeley.edu/doku.php?id=financial_advice:glossary#index_fund|index funds]], where it can start to grow for you. | * If you've worked here for a summer already, [[https://login.fidelity.com/ftgw/Fidelity/NBPart/Login/Next|move your DCP savings]] into something like the Spartan S&P 500 [[http://badgrads.berkeley.edu/doku.php?id=financial_advice:glossary#index_fund|index funds]], where it can start to grow for you. |
| [[https://personal.vanguard.com/us/VanguardViewsArticle?ArticleJSP=/freshness/News_and_Views/news_ALL_chaircorner2Q06_07132006_ALL.jsp|Longer term]]: | |
| *Live below your means | Longer term: |
| *Participate in the markets | * Live below your means |
| *Invest regularly | * Participate in the markets |
| *Get knowledgeable | * Invest regularly |
| | * Get knowledgeable |
