Roth IRA/401k

[JordanD]

I've got a bunch of money sitting around in savings that I probably need to start doing something with and feel like I should have something more than the company match/401k. Any suggestions on where to get started or which one would be better?

 

[Cessnaflyer]

Always take the company match with the 401K and then evaluate your tax situation with both a Roth and Traditional IRA. Most pilots will be better off with a Roth as their higher earning years are later. Also the best flowchart I've see for where to put your money.

https://imgur.com/lSoUQr2

 

[derg]

Financial advisor El Pronto.

 

[mikecweb]

Give it to me.

 

[Cessnaflyer]

Financial advisor El Pronto.

Make sure they are fee only and actual fiduciaries.

 

[gotWXdagain]

Make sure they are fee only and actual fiduciaries.

Emphasis on fiduciary.

 

[derg]

Give it to me.

Gimme the stuff that funk that sweet that funky stuff.

SAY WHAAAAAAT!

 

[Screaming_Emu]

Boats ‘n hoes

 

[Autothrust Blue]

Boats ‘n hoes

I should buy a boat.

 

[alaskadrifter]

I’ve been happy with Vanguard the last few months.

 

[JordanD]

Financial advisor El Pronto.

Now that I'm left seat I don't know who to take horrible financial and marriage advice from anymore.

But in all seriousness, this is what I've been leaning towards, I just don't know how to go about finding a good one.

 

[alaskadrifter]

I started a similar thread a while back and was convinced Vanguard and their low cost ETFs where the best route for myself. I’ve been playing around with Robin Hood, but that’s just for fun and self education.

Robin Hood/Stash/Millenial Investing

I’ve been trying to educate myself on investing, and these seem like good options for complete newbs like myself. I like that you can try Stash for $5, people pay more for games on their phone! Has anyone else used one of these apps?

forums.jetcareers.com

 

[adk]

Read this before you use Robinhood to invest:

Bloomberg - Are you a robot?

 

[Cessnaflyer]

Read this before you use Robinhood to invest:

Bloomberg - Are you a robot?

I think that was known from the beginning and Robinhood published that itself.

 

[adk]

I think that was known from the beginning and Robinhood published that itself.

I still think it's important that people know how Robinhood makes money and that TANSTAAFL.

 

[JPilot9]

Generally speaking, I'd avoid financial advice from fellow pilots moonlighting as financial advisers. The Bogleheads Forum is essentially a forum of Millionaires Next Door. Head over there for good advice.

Getting started - Bogleheads

 

[Tommay85]

Who is your 401k through? That would be a good starting point for looking for financial advice IMO. Unless it's through John Hancock...

My roth is with Merill Lynch, and the guy I meet with locally has been good. Especially since I NEED all of the cars!

There is definitely a balance between maxing things out to where 65 year old you could have fun an current you having fun. 65 year old me is gonna have a GREAT time and I'm trying to shift some of that to this guy is going to have some fun at this point. Hard to do in this profession. We all have met THAT guy...