The following is a transcript of a nice video we found of the popular site Youtube. I's about a young man that gives you some advice on how to invest your money. If you or I were on our 50s or 60s this is what you should do. Link at the bottom if you prefer video If not keep on reading. Hope you enjoy the transcript the way we did.
If you're in your 40s or 50s and feel like you're behind in money and investing, then these are the 4 places I would put my money in to let it grow.
First is a target date fund which can help you diversify across many stocks and bonds and these funds can automatically become more conservative as you get closer to retirement. Here are some popular ones from different brokerages with low fees.
- FIDELITY FIHFX
- Vanguard: VTTHX
- Schwab: SWYFX
Second includes low-cost index funds and ETFs that track the S&P 500. These funds allow you to invest in the top 500 companies in the United States like Apple, Microsoft and Amazon. Here are some of my favorite ones that you can screenshot.
- SPY
- VOO
- IVV
- FXIAX
Third are CDs or certificates of deposits that allow you to lock in an interest rate for a certain period of time. Here are some examples you can look into.
- Discover (18 Mo) - 5%
- AMEX (12 mo) - 4.75%
- Barclays (5 yr) - 4.5 %
- Marcus (10 Mo) - 5.05%
- US Bank (19 mo) - 4.85%
Fourth is a high yield savings account, not a regular one. Instead of getting 0.01% interest, you can get anywhere from 3-5% interest. Here are some of my favorites.
- SoFI
- Discover
- Ally
- Apple
- Wealthfront
https://youtube.com/shorts/ogq4x_DbYMc?si=RkIQozdEZcH9pMJt
