Author Topic: Guidance for Freelance Artist  (Read 234 times)

vvelouriaa

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Guidance for Freelance Artist
« on: March 26, 2020, 11:30:30 AM »
Hello world. Iím a long time reader but new to the forum.

Iím a 31yo freelance artist. My financial goals have shifted recently. Yesterday I was laid off for at least 2 weeks, or until the government re-opens small businesses. The stores that sell my art are shutting down. I was expecting to make 35k this year and invest 40% of that, but my investing rate will decrease.

Iíve already maxed my Roth IRA for 2020, have a Schwab SWPPX account, and a 3.5k emergency fund.

SP 500 rates are low, but is there a better or more diversified place to stash any extra cash?


MustacheAndaHalf

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Re: Guidance for Freelance Artist
« Reply #1 on: March 26, 2020, 11:42:44 AM »
I prefer ETFs, so I would suggest "Schwab Broad US Market" (symbol: SCHB ) since it has almost 2,500 U.S. stocks, instead of just 500.  You can search for "SCHB" and click on the link to a Schwab website to get details from them.

Sticking with Schwab ETFs, I would add international as well.  Maybe 1/5th of your stock market exposure?
Schwab International Equity ETF (SCHF).

Note both funds are very efficient: they only consume 0.03% and 0.06% of your investment each year (silently), also known as the "expense ratio".  If you only pay attention to one thing, look for the lowest expense ratio.