Fl0nkerton Posted March 9, 2020 Share Posted March 9, 2020 1 Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted March 9, 2020 Share Posted March 9, 2020 Lots and lots of people are going to lose their jobs if oil prices stay this low. We are below the break-even point for the oil fields in Texas. Last time this happened, they lost 75k jobs. Quote Link to comment Share on other sites More sharing options...
JonStark Posted March 9, 2020 Share Posted March 9, 2020 Stupid question: Do you guys invest online, through apps, or just with your bank? I'm looking to get into it but not really sure where to start. Quote Link to comment Share on other sites More sharing options...
kingseanjohn Posted March 9, 2020 Share Posted March 9, 2020 10 minutes ago, JonStark said: Stupid question: Do you guys invest online, through apps, or just with your bank? I'm looking to get into it but not really sure where to start. Not the best time iyam. I see stocks dropping through at least the summer. 1 Quote Link to comment Share on other sites More sharing options...
Mox Posted March 9, 2020 Share Posted March 9, 2020 12 minutes ago, JonStark said: Stupid question: Do you guys invest online, through apps, or just with your bank? I'm looking to get into it but not really sure where to start. Online with financial firms that are not my bank 1 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 9, 2020 Share Posted March 9, 2020 31 minutes ago, JonStark said: Stupid question: Do you guys invest online, through apps, or just with your bank? I'm looking to get into it but not really sure where to start. Online. For getting started on personal finance, the reddit flowchart is actually pretty solid. Making a budget is a good thing for PF pretty much regardless of your situation, and that will help give you the terms to google. I use Fidelity for everything because my work is there, but they're a great one stop shop if you need to open an IRA/HSA. No fees/account minimums, free trades, and really good indexed funds. 2 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 9, 2020 Share Posted March 9, 2020 23 minutes ago, kingseanjohn said: Not the best time iyam. I see stocks dropping through at least the summer. Disagree tbh. Never a bad time to get into your finances. This way when the market's back up he's riding the wave like the rest of us. (This is the part of the day where despite the market being in the toilet I become unsettlingly positive for no discernible reason.) 5 Quote Link to comment Share on other sites More sharing options...
skywindO2 Posted March 9, 2020 Share Posted March 9, 2020 1 minute ago, ramssuperbowl99 said: I use Fidelity for everything because my work is there, but they're a great one stop shop if you need to open an IRA/HSA. No fees/account minimums, free trades, and really good indexed funds. I've been meaning to open up a higher yield savings account for my emergency fund to sit in. Would you recommend Fidelity for that or somewhere else? Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 9, 2020 Share Posted March 9, 2020 4 minutes ago, skywindO2 said: I've been meaning to open up a higher yield savings account for my emergency fund to sit in. Would you recommend Fidelity for that or somewhere else? I'd probably just google bank rates since they always change. I feel like most of the online banks like Ally have the highest rates. Personally, I tend to think unless you're going all in and getting sign up bonuses and whatnot it's not worth it. If your e-fund is $15k, 1% interest is $150/year. Meh. Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted March 9, 2020 Share Posted March 9, 2020 I just use my Roth IRA (+ HSA for medical expenses) as my "emergency fund". Then it can be invested for real gains. Quote Link to comment Share on other sites More sharing options...
theJ Posted March 9, 2020 Share Posted March 9, 2020 59 minutes ago, Heimdallr said: I just use my Roth IRA (+ HSA for medical expenses) as my "emergency fund". Then it can be invested for real gains. Surely you have some money floating in a bank account though. I get that you can withdraw contributions from your roth with no penalty, but you gotta keep something liquid. Getting at that roth money isn't a 24 hour process. I keep mind in a high interest savings, as others above has mentioned. I use an online bank for like 80% of it, and keep the rest in a brick and mortar that i can to quickly if i need to. 1 hour ago, ramssuperbowl99 said: Personally, I tend to think unless you're going all in and getting sign up bonuses and whatnot it's not worth it. If your e-fund is $15k, 1% interest is $150/year. Meh. If you don't want the $150, i'll take it 1 Quote Link to comment Share on other sites More sharing options...
theJ Posted March 9, 2020 Share Posted March 9, 2020 BTW, i'm getting 1.6% at my online bank. $240/year on 15k! Yeah not a lot, but i'll take it over 0.05%. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 9, 2020 Share Posted March 9, 2020 10 minutes ago, theJ said: If you don't want the $150, i'll take it Check is in the mail. Quote Link to comment Share on other sites More sharing options...
JonStark Posted March 9, 2020 Share Posted March 9, 2020 2 hours ago, kingseanjohn said: Not the best time iyam. I see stocks dropping through at least the summer. Yeah I’m just trying to get an understanding of it before I jump in. Probably gonna give it a month or two. thanks everyone! Quote Link to comment Share on other sites More sharing options...
Mox Posted March 9, 2020 Share Posted March 9, 2020 15 minutes ago, JonStark said: Yeah I’m just trying to get an understanding of it before I jump in. Probably gonna give it a month or two. thanks everyone! Don't worry about timing. Get in when you are ready 1 Quote Link to comment Share on other sites More sharing options...
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