Can someone help me understand what the hell I’m doing with my cash
Not looking for financial advice just need help understanding my investments which I’ll continue till I’m dead, hopefully.
I started dumping about $500 every week into “savings” a few months ago. I can’t go wrong with buying so I’ll keep buying.
Not a clue what to invest in so I just copied whatever was popular.
I’m 36, live in the US and am a Union steamfitter.
**Pension, Roth IRA**: 5% per check ($100)
T. Rowe Price Retirement 2060 SA M
100% w/ $45k+
**Company 401k**: 5% per check ($100)
Vanguard Value Index Fund - Admiral Class
100% w/ $8k+
I haven’t touched either of those accounts. Those are the default investments. It’s for retirement, I know that much. I should probably diversify but that’s a topic for another post.
These next investments are what I copied off Reddit.
**Charles Schwab Portfolio**
Individual: $50 weekly
65% SCHB x76
20% vxus x8
5% schg x5
5% avuv x2
5% ibit x3
Roth IRA: $50 weekly
50% SCHB x37
20% vxus x5
10% schg x6
10% avuv x2
10% ibit x4
The Charles Schwab investments I have a decent understanding. It’s a good split between different commodities, maybe. I also realized I can only invest $7000 in a Roth IRA so gonna have to stop one or the other before that amount this year. Idk which to stop or if two is even necessary. At the moment once one hits $3,500 I’ll stop buying.
I don’t have a clue what this Fidelity portfolio is for 😅
**Fidelity Portfolio**
Individual: $100 weekly
75% SPAXX x900
25% SGOV x3
👆What are those and why are they good?
**GS Marcus HYSA**
$150 weekly
W/ $2k+
Is a HYSA necessary even tho I have those Fidelity investments? Are these just about the same thing?
**Cash**
BofA checking
$7k+
I have a feeling I’ll be recommended to put $6k of my cash into one of the investment accounts and to leave the bare minimum for my life in checking. $1000 will do….
I’m sure I’m off to a great start but just want a better understanding of it all that isn’t coming from ChatGPT
Thanks in advance!! 🙏