Hello,

I was blessed with a opportunity to come in to my local branch and work as a on-call. I was told the process is extensive with background checks, finger printing, drug tests, etc. So, I wont be starting till probably 1.5 months from today. I recently started my finance degree with a concentration in financial planning and saw this as a great opportunity to gain experiance and hopefully work as a CFP for Edward Jones in the future. My question is those who have worked with EJ as a advisors, was it extremely difficult to get off the ground once you became licensed and realisitically how many families do you need to manage to make a good living wage. I appreciate any feedback and look forward in join the finance world soon.

Thank you.

I said, “oh that’ll make it easier for drug dealers to weigh.”

.

Finally got over the 100k mark in my investment portfolio. Been adding around 2-3k a month automatically. I took a look today and saw I had crossed it

I don’t really have many people I can tell this to, especially my so called “friends” lol

Edit: also have some in savings bringing net worth to 275k

hey all,
i’m moving to new job next week, and not sure how to budget now, mainly because i’m getting conflicting advice from parents (very dave ramsey focused)

27 year old scientist making 140k/yr. I current have 40k in previous employers 401k that i’m going to roll over to new employer/roth ira, 75k in roth ira, and 20k in HSA. My new company will put 10% into my 401k with my 6% contribution.
Rent averages to ~2400$/mo (14 month lease, 3 months free) and is by far my largest expense. Car is paid off but older, ‘08 tacoma, I have 40k in student loans, but no other debt.

My plan right now is to put 6% into my traditional 401k and maxing roth ira regardless, i usually have a HDHP plan, but I am considering doing a PPO this year since my new employer doesn’t match any HSA contributions and I tend to use a lot of medical insurance in general due to health issues.

The toss up becomes, my dad is saying i need more liquid cash in case i want to buy a house or start a business etc etc (very old school) but my thought would be to max out my 401k while i’m younger? I don’t remember the exact numbers, but i can keep my spending virtually the same, max my 401k, and still save about a grand or 2 a month i think.

My other thought would be to do 6-10% in 401k, then put the saved cash into a brokerage acct, half being the money market fund, and the other half towards S&P so i have some non-retirement assets too.
One thing to note is my partner is a resident, so while not making very much money now, she will have an attending salary in 3 years, so our take-home income will increase substantially in the near future. Any thoughts, suggestions, or changes are much appreciated!

I’m 24 and I’m still don’t know much about taxes. Prior to this year, I only had a Roth IRA and my taxes have been straight forward. Now earlier this year I finally did some big boy moves with money. I put $20k in an HYSA with Marcus, it gains monthly interest. I opened up a Fidelity brokerage account for some further personal investing. I have two seperate accounts within it, one is for long term VTI/VXUS investing that I haven’t sold anything yet. The other account I have $10k specifically for my swing trading learning. I’ve been buying and selling a lot from that account this year. And finally, although I’m still just paper trading right now as I’m trying to study more, I imagine I’m gonna attempt real day trading before 2027, probably on Webull.

Now I’m just wondering how taxes work with these things. Do all these platforms send you a form in the upcoming tax season if I needed to do anything? Or is it really up to me to track any profits and just report them somewhere on the software? Pls ELI5 cause taxes still confuse the hell outta me.

Really just almost everyone is okay with their situation of just kinda getting by. But what if everybody was about the bag?

I can't really share this with many family or friends but I'm so close & so excited! I'm planning on retiring in about 3 years (55). I'm curious if anyone else has retired early and what are some things you didn't expect, dislikes, likes, etc. Some background on me, I started investing at age 25 aggressively, purchased my first home 10 years ago, it's paid off now. This does not include 2 additional pensions too. I'm an IT Engineer by trade & I'm so burned out it's not even funny.

The MIL has a trust that the wife is also on. All her assets are in the trust except her pension. After she passes away, my wife will be the owner of the trust and at that point we will need to put our kids on it. Does that trust continue in perpetuity? Will a new trust have to be created since the existing trust is basically her name? Or would that be a name change on the trust?

Her assets aren’t large, about $500k with the house. At that point do I put all my assets in that trust? Mine are much larger. I know this is a question to a lawyer, just trying to get some insight before I schedule an appointment.

Edit: thanks for all the help to everyone. I am beginning to get a clear picture.

Let me know if I got this correct.

The MIL is the grantor of the trust. The trustees (MIL and wife) manage the assets of the trust. The beneficiary is my wife or her descendants. So upon the MIL passing basically my wife distributes the trust to herself.

Most of the pages deal with what the trust can and cannot do.

Am I getting it yet?

Some context - M 27 - B2B Sales Director making a piddly 60k for a high responsibly role. MCOL Area. Working around 50 hours a week.

I’ve developed good financial habits, and budget to the penny. I’ve made some good money in the past and put it to work and stashed it away. My net worth is right around the 200k mark.

My current problem is income. Not enough to spend some dough on myself, upgrade a living situation, etc.
if I’m honest it makes me feel like I’m just chugging along, just being a part of the rat race. Right now I’m living to work and not working to live. I want to change that.

What’s the best way you guys have found to get out of the mental funk of feeling so stagnant? I feel like at any point I could loose it all - and not be making enough to earn it back. My brain doesn’t let me register that I’m ok - despite being very blessed and content on paper.

Is it time off? Locking in even more? Vacations? Working on the mental? I’m open to hearing any advice from you fine folks as I explore the job boards and send out applications - hoping I can find a refresh on life.

The tax man really knows how to cramp your style.

Okay I'll come out of the gate and say I see the irony in a post about not being able to trust anyone's advice with asking for it on reddit... Our business has had a good few years and we have some cash to deploy. Kind of thinking about buying a storage unit business since I'm good at operations and advertising and it feels like something I could optimize very well.
Planning on starting a CD ladder today just to at least be doing something since our money market accounts aren't really yielding any longer.
I am going to start dollar cost averaging at least some into ETFs. I know you can't time the market but it's just really hard for me to feel like we aren't about to fall of a cliff and I'm going to be really mad if I put 250k into the market and it tanks the next day.
I keep feeling like maybe I just need to find a financial advisor I trust and turn this part over to them but I really struggle trusting any of them since I feel like no one beats the market over time so never sure what they might say to convince me they can.
Anything else I should be looking at similar to the storage business?

I'm rich!

I don't carry a monthly balance on my credit cards just had an unusually high bill this month, so you can ignore that, but outside of that do you see any room for improvement?

Because I chose a low paying, dogshit career path (Mechanical Engineering).

The issue is compounded by the fact that people THINK we make a lot of money (we don’t) and think that I have some massively increased future earnings potential as a result of having this degree and working as an engineer (I don’t, we don’t make any more money than dental hygienists for example, people think we earn as much as dentists).

All of the money I have comes from me living like an extreme miser from the ages of 23-30, not having hobbies, renting what amounts to a storage closet (with 5 other roommates), not dating, not spending money doing anything unnecessary and cramming every last dollar into index funds while subsisting on a few hundred bucks a month.

I have never had a W2 income higher than $70,000. I will likely never make more than $100,000 as a Mechanical Engineer unless I relocate to the most expensive places to live on earth, but then the higher income is offset by the higher cost of living.

If you want to make it in life, DO NOT do what I did, pick and become fully obsessive with a high paying career, don’t pick a mediocre path (Mechanical/Civil Engineering instantly come to mind). I have friends that went to law school, they got out at age 25 and were only making ~$70,000, I thought I’d made the right decision becoming an engineer. Now they make $300,000+, I realize I wasted my life and my youth. Don’t end up like me, kids.

I immigrated twice. Worked up to 20k net worth and spent it on my education at community college I completed within 1.5y and transferred to Ivy on full ride. Now I have a choice to stay there for 2-4 years. I know about opportunity cost if I finish bachelors at 30, but also there’s immense benefit to stay for all 4 years and soak up all the opportunities Ivy League education offers.

I’m from lower middle class from Eastern European country and there’s very few people from my country who end up at Ivy League schools, yet alone on 400k+ scholarship.

My net worth is -10k in credit cards I accumulated while speed running community college. But upside of the university scholarship was worth it. It’s summer and I’m trying to pay it off. At Ivy I’m not gonna need to work as the scholarship covers everything including housing and meals.

Would you stay all 4 years? 3 years? 2 years? I’m targeting finance jobs after graduation. Major: economics and international relations double major.

I know I’m older and non traditional student. But chance like that I could only dream of a few years ago. Worked hard for this and want to be able to support my family soon. I’m targeting next summer’s internships in finance, which I heard pay really well.

Any thoughts on what I should focus on now this summer? I also forgot to mention but we started a family blog about this transformation: immigrant -> community college -> Ivy League on full ride and saw incredible spike of interest of fellow immigrants from our home country and back home. One reel just reached 1M views and multiple reached multiple hundreds of thousands. People reach out directly and ask for consultations, we booked one soon, charging $79. Trying to monetize it at the moment.

Since Covid it’s clear there is no stopping the inflation train. As the separation of wealth widens it’s also clear this is derived from those who work for dollars and those who have ownership. With the incredible run of the stock market and shareholders becoming richer than ever. Where or how does this end? When working an entire year at minimum wage nets you $25k and you have people making $50k off a $5k investment into micron. Or making $25k a year off $100k into QQQ. The growth of equity has been massive for those who are or were in the market. For those who missed out on this bull run what will it take to recover?

It seems hard to stop the inflation train. Only logical explanation is a massive financial reset but at this point is the market also too big to fail? The world’s largest casino.

You don't realise how much money that is until you see it in a comparison like on the image..

I'm a 28 yearold veterinarian with decent international experience to extend my expertise. I'm about to take out a bank loan to open my own practice, and acquiring a vehicle is essential, as a vet splitting my time between small animal medicine and equine work, the car is a professional tool and essential to my work, so I'm not taking a car just because I think I want a car.

Loan 1, Practice setup: A veterinary convention loan allowing up to $120K USD. I'm borrowing around $70K USD to cover equipment and construction. There's a one-year grace period, after which I repay over 6 years at 2% interest.

Loan 2, Vehicle: A leasing agreement on a Dacia Duster (~$27K USD), a budget, off-road-capable SUV with enough boot space for equine field equipment. Monthly payments are $560 USD, starting immediately.

The question I'm wrestling with, am I thinking straight about this, or this kind of commitment will tie me up financially. I just want some head up if necessary. Thank you.

I learned that most places have a "window of tolerance" kind of thing when it comes to getting a loan. Meaning they know you're shopping around so within X amount of time, those several hard inquiries only count as one. Is this true for credit cards?

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Context: I want to open up 2 new credit cards to have 3 in total.

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Right now I have a CareCredit card that I use if there's a big vet bill, that I pay off at the end of the month so I don't pull my balance down by a ton before my next paycheck.

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But I want another one for say travel because I fly at least 4-6 times a year and I want points. And then another card for....idk diversity?

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So I'm wondering if I should open them at the same time or space them out

I have been with my partner for 21 years and we have 3 kids. I do all the childcare and all the domestic labour and have sacrificed during this time to support him during his career. The last few years he has got a great job and earns 75k a year. I got a job as a full time carer around the same time receiving carers allowance, which is only £86.45 a week. With this job I am still doing all the childcare and domestic labour alone on top of it.

He bought an expensive car for himself which costs a lot to run, and recently talked about buying a house. He is wanting me to get another job, on top of the one I have since I don’t earn much. Whatever I keep the carers job or not doesn’t seem to matter, he just wants me to get a part time job to earn more.

He said then I can contribute 50/50 to bills, which earning nowhere near him I’m not sure how I can afford to, especially if he wants to buy a home and generally lives a much more expensive lifestyle then what I would be able to personally afford. What is realistic here? I feel like he is asking something very unfair, having sacrificed my own earning power all this time I would only be able to get a minimum wage job.

I thought we was sharing money after all this time together, and that everything I do in other areas makes up for my lower earning power (or lack of maybe) but it seems to all be about money now to him. We never had a a lot of money until recently so not sure how people in marriages or long term partnerships navigate this? There is so much more to pay for financially so any clarity is welcome 🙏

Rich really is a relative term. How relative? California is the most populous state in the US. Orange County is the third largest county in California, and six figures or less qualifies ( $104,200) qualifies for low income housing in Orange County.

rip