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Investment Thread - For all your money needs

So, we've been married for one year, and the big thing we haven't done yet (besides standing 69) is develop an investment portfolio. As it stands, we pay into our 401k's, but we also leave entirely too much cash just sitting in our checking account. That money needs to be somewhere else.

Can anyone point me to some introductory reading on this stuff? Basic questions are:

1) What are some considerations when trying to set up a portfolio for a married couple? One account? Two separate accounts? Etc.

2) Beyond just picking investment vehicles, how do you pick providers? Say we want to just throw some cash in a target fund. How do you choose who to go with?
 
TexasDeac10 said:
So, we've been married for one year, and the big thing we haven't done yet (besides standing 69) is develop an investment portfolio. As it stands, we pay into our 401k's, but we also leave entirely too much cash just sitting in our checking account. That money needs to be somewhere else.

Can anyone point me to some introductory reading on this stuff? Basic questions are:

1) What are some considerations when trying to set up a portfolio for a married couple? One account? Two separate accounts? Etc.

2) Beyond just picking investment vehicles, how do you pick providers? Say we want to just throw some cash in a target fund. How do you choose who to go with?
Click to expand...

I'd recommend Vanguard if you don't want actively managed.
 
two accounts, no collaboration. every quarter compare results, and based on a simple formula, some of the money gets shifted into the more successful investor's account.
 
Vanguard is probably the best provider for low cost target and index funds. The best vehicle will depend on what you're trying to do with the sweet extra cash. Might be separate IRAs or it might be a brokerage account or just a higher yielding deposit account somewhere else.

Are you eligible for any awesome credit unions through work?
 
TexasDeac10 said:
So, we've been married for one year, and the big thing we haven't done yet (besides standing 69) is develop an investment portfolio. As it stands, we pay into our 401k's, but we also leave entirely too much cash just sitting in our checking account. That money needs to be somewhere else.

Can anyone point me to some introductory reading on this stuff? Basic questions are:

1) What are some considerations when trying to set up a portfolio for a married couple? One account? Two separate accounts? Etc.

2) Beyond just picking investment vehicles, how do you pick providers? Say we want to just throw some cash in a target fund. How do you choose who to go with?
Click to expand...

For retirementment,as long as you are maxing out your 401k matches, you should each have your own Roth IRA. You can set those up through any of the big brokerages (Fidelity, eTrade, Ameritrade). You can then put your money into a target fund, or if you're feeling more hands on, set up your own portfolio using low fee index funds or etfs.

For more short term investing, it depends on your goals.
 
DistrictDeacon said:
For retirementment,as long as you are maxing out your 401k matches, you should each have your own Roth IRA. You can set those up through any of the big brokerages (Fidelity, eTrade, Ameritrade). You can then put your money into a target fund, or if you're feeling more hands on, set up your own portfolio using low fee index funds or etfs.

For more short term investing, it depends on your goals.
Click to expand...

FWIW, TexasDeac, you get phased out on Roth contributions based on AGI of $183-$193k and there are ways around that if you're over those limits using non-deductible traditional IRA's but it gets a touch tricky.

T. Rowe and Vanguard both are great, but there are lots of options out there. Truly, spend $500 and go talk for a few hours to a fee only CFP who can point you in the right direction with a lot more than what you're talking about. Good luck
 
we use usaa for all non-retirement banking which makes it a lot easier. essentially, every month after rent hits, i subtract my outstanding cc bill from what's in checking plus paychecks to come that month. anything over $5k gets moved to brokerage. the brokerage account is essentially a few different low expense indexes. it's pretty simple, but i put everything on a cc to ensure i know what my monthly expenses are in advance. then i keep another small chunk in savings. usaa makes it super easy to clear money from brokerage, so in the case of emergency i have plenty of room on the cc or savings+checking+can clear from brokerage ina couple business days.
 
TexasDeac10 said:
So, we've been married for one year, and the big thing we haven't done yet (besides standing 69) is develop an investment portfolio. As it stands, we pay into our 401k's, but we also leave entirely too much cash just sitting in our checking account. That money needs to be somewhere else.

Can anyone point me to some introductory reading on this stuff? Basic questions are:

1) What are some considerations when trying to set up a portfolio for a married couple? One account? Two separate accounts? Etc.

2) Beyond just picking investment vehicles, how do you pick providers? Say we want to just throw some cash in a target fund. How do you choose who to go with?
Click to expand...

Good suggestion from others on Vanguard. Vanguard provides you with an investment plan if needed. You are able to discuss with a representative your goals and a plan for achieving them.
 
SkyDivingDeacon said:
FWIW, TexasDeac, you get phased out on Roth contributions based on AGI of $183-$193k and there are ways around that if you're over those limits using non-deductible traditional IRA's but it gets a touch tricky.

T. Rowe and Vanguard both are great, but there are lots of options out there. Truly, spend $500 and go talk for a few hours to a fee only CFP who can point you in the right direction with a lot more than what you're talking about. Good luck
Click to expand...

Any links on the ways around the income limits? A couple of years ago I was able to roll a traditional ira into a Roth or something like that. I thought they shut down that loophole though.
 
deacphan said:
Any links on the ways around the income limits? A couple of years ago I was able to roll a traditional ira into a Roth or something like that. I thought they shut down that loophole though.
Click to expand...

http://www.marketwatch.com/story/backdoor-roth-ira-conversion-tax-free-2013-04-30

This does an ok job explaining how it could work. Easiest way is obviously through an employer-sponsored plan if the plan document allows for Roth deferrals, but if you're maxing out a retirement plan and want to sock some more money away and don't have other IRA accounts that aren't non-deductible, you can convert the 'basis' tax free into a Roth regardless of income.
 
Just find the next facebook or Google and invest!
 
Bojangles is going public next week. If there is one thing that I will invest my money in, it is that American fatties gonna fattie.
 
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