Author Topic: Very new to investing - where to start?  (Read 2717 times)

stealthystache

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Very new to investing - where to start?
« on: January 07, 2016, 08:46:12 PM »
Since getting our family finances in better order (started about a year ago), I'm now in a position to begin investing and don't know where to start. The feeling of being overwhelmed is intense, but that's never stopped me before! So if anyone can point me in a good direction, I'd really appreciate the help. Here's some of the nitty-gritty:

We're planning on selling the house soon to dump the mortgage, have a student loan of about 16K with a rate under 2%, so we're in no rush to pay it off. No other debts.
I don't have a company matching program since I work for myself, my partner's employer might match 3% (which sounds pitiful to me), we both have tiny 401K's from old jobs, and there's an old pension from another past job.
I've saved up about 3K to put wherever, with about $1200/mo or more to contribute each month this year. Ack!

I've read tons of posts on investing including Vanguard, Betterment, even Fundrise and P2PL. But none of it makes sense to me yet and feels more like throwing spaghetti at the wall than actual planning (since I don't understand). That might be due to my need for a global perspective to help make sense of how the other pieces fit in. Can anyone help?

Zx

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Re: Very new to investing - where to start?
« Reply #1 on: January 07, 2016, 09:00:57 PM »
I'm not in a position to do this yet so I haven't studied much, but you'll find all over this forum advice for investing when you have no idea what you are doing....

...basically everyone says Vanguard in two specific index funds, can't think of their names. It's easy to find if you look around. Takes the guesswork out of it while you are boning up on investing.

Someone will answer you soon or point you in the specific direction. The info is here. Hang on, someone will be right with you...

Retire-Canada

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hyla

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Re: Very new to investing - where to start?
« Reply #3 on: January 07, 2016, 09:51:04 PM »
https://www.bogleheads.org/wiki/Getting_started

Bogleheads is an excellent website and forum which is focused primarily on investing, as opposed to this one which covers a wider range of topics.  Their general philosophy is to invest in low cost, diversified funds and stay the course and stick to your investing plan through market changes. 

JZinCO

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Re: Very new to investing - where to start?
« Reply #4 on: January 07, 2016, 11:29:54 PM »
https://www.bogleheads.org/wiki/Getting_started

Bogleheads is an excellent website and forum which is focused primarily on investing, as opposed to this one which covers a wider range of topics.  Their general philosophy is to invest in low cost, diversified funds and stay the course and stick to your investing plan through market changes.
+1
Develop an investment policy statement before throwing money into different accounts. It'll save headaches down the road.

stealthystache

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Re: Very new to investing - where to start?
« Reply #5 on: January 08, 2016, 06:45:30 AM »
Thanks for the beginning direction - I'm headed to Collins' site and will try Bogleheads after that. I know I've seen some local meetings for the latter, but they seemed a bit disorganized with inconsistent meeting announcements so I haven't attended yet.

Is there a resource out there that gives a global perspective on investing? What I mean is something that shows the purpose for each type, according to its strengths and weaknesses, and why people choose them? I'm having trouble articulating what I'm asking b/c I'm not sure what I need (you don't know what you don't know). For example, I'm learning about real estate investment and understand much of the philosophy behind how it works, what the pitfalls are, and how to maximize profits. Is there a comprehensive list of other investment types with the same kind of information?

soccerluvof4

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Re: Very new to investing - where to start?
« Reply #6 on: January 08, 2016, 01:32:10 PM »
Pretty sure your questions will be answered when you read the two recommended threads.

mustachianteacher

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Re: Very new to investing - where to start?
« Reply #7 on: January 08, 2016, 01:42:25 PM »
I found Eric Tyson's Investing for Dummies to be a great starting point.

jjface

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Re: Very new to investing - where to start?
« Reply #8 on: January 10, 2016, 08:17:38 PM »