I'm going to ask you 1000 questions about investing

[NbaFan432]

https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Frxalg0e1 zha71.jpg%3Fwidth%3D640%26crop%3Dsmart%26auto%3Dwe bp%26s%3D61bcef118aa3d96d4ab0e786ab0d8181e74093d5

What’s the difference between SPAXX and FCASH?

[Patrick Chewing]

I can't even answer the first one.

[NbaFan432]

I’m trying to open a brokerage account through Fidelity and this was one of the questions. Which broker do you guys use and why?

[Chick Stern]

https://i.gifer.com/origin/c4/c4044ea364b992225a75953cba7d586f.gif

[SouBeachTalents]

Of all the places someone could seek out investment advice, this dude decided dusting off a rarely used 15 year old account and asking on a basketball forum would be a good source for obtaining this information.

And instead of just googling this question and finding the answer literally instantly, he decided to start a thread and wait potentially hours for the answer instead.

Honestly just bizarre decision making all around.

[j3lademaster]

Need more information. How much do you plan to invest, how much manual are you willing to handle do you live in a high or low tax state.

[j3lademaster]

I’m trying to open a brokerage account through Fidelity and this was one of the questions. Which broker do you guys use and why?

I like Schwab. Lower fees. And my friend from hs works there so I can bug him and just buy him a beer.

[j3lademaster]

Of all the places someone could seek out investment advice, this dude decided dusting off a rarely used 15 year old account and asking on a basketball forum would be a good source for obtaining this information.

And instead of just googling this question and finding the answer literally instantly, he decided to start a thread and wait potentially hours for the answer instead.

Honestly just bizarre decision making all around.So true lol

[NbaFan432]

I like Schwab. Lower fees. And my friend from hs works there so I can bug him and just buy him a beer.

You have to pay fees just for having the account? How much do you pay in fees?

[NbaFan432]

Need more information. How much do you plan to invest, how much manual are you willing to handle do you live in a high or low tax state.

I live in Texas. I wouldn’t know how much to invest. I have $60,000 in my checking account. This is all the money I have in the world. I recently learned I'm an idiot and I should have the money in other places. Now I'm trying to figure out what to do with it.

[j3lademaster]

I live in Texas. I wouldn’t know how much to invest. I have $60,000 in my checking account. This is all the money I have in the world. I recently learned I'm an idiot and I should have the money in other places. Now I'm trying to figure out what to do with it.If I were in your shoes I'd probably place ~30-40k in something long term and 10-15k in something short and safe... like cd's or bonds. Those are easy enough to sign up for through your local bank and you can do 1 year terms. It won't make you rich, but should keep up with inflation at least so you aren't losing money having it just sit there. Just be sure to keep a finger on the date because they auto-renew. When my wife and I paid off our first vehicles, we decided to still budget the monthly payments into a different account as if we still had car payments, and when it's time to buy a new vehicle we can buy full cash but then realized it's retarded to have the cash just sitting there and this was what we decided to do with it.

There will be a lot more info you will need like how old you are, what's your time frame etc. You probably don't want to buy 3x long if you're 80 years old. What risk are you willing to go. And how much do you know about market funds? You also will need a specialist who knows Fidelity because 'SPAAX' and 'FCASH' are most likely lingo exclusive to them. In my personal experience, I've never had issues with brokers and have only sat with a fiduciary once, but from my limited experience fiduciaries are incredibly low risk(mine only offered bonds and reit's with some S&P puts) whereas brokers can help you aim higher if you can float the risk. Supposedly fiduciaries are more trustworthy since they legally have to work to your best interest though, but no reason you can't sit down with both for second opinions. But yeah, sit down with someone they will need a lot more information that you probably don't want to air on here.

If you're curious what I'm in besides bonds and S&P 500: CVE, NE, AMR, AETUF, JD and TSLA. I'm pretty bullish on energy going forward since we're in an AI race with China.

[NbaFan432]

Thank you. I’m 32 by the way. I wish there was a simple blueprint for idiots to follow. I’m not trying to get rich or take on much risk.

One thing I did do last month is open a HYSA. I plan to transfer the majority of my checking account there until I learn what else to do. The yield is ~4% so I chose it over a CD which was slightly higher.

I opened an account with Fidelity. I learned that SPAAX and FCASH only deals with uninvested money in your brokerage account. FCASH is basically a savings account. It has a lower yield but I chose it because I at least understand what it is. I can change it later.