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40 year olds, what financial advice would you have for a 30 year old? (sh.itjust.works)

submitted 3 days ago by StarvingMartist@sh.itjust.works to c/asklemmy@lemmy.ml

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50 and older, I'm sorry, but in my personal experience, your advice has been a little out of date.

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[–] bedwyr@piefed.ca 7 points 3 days ago (2 children)

The stock market is insanely overpriced and due for a downturn. Maybe the US government will bail them all out again, but already 40 trillion in the hole, probably close to 50 by 2028 even without a crisis, and the indigestion in the bond markets right now, would give me pause in dumping cash into the market now.

It's also helping to prop up the worst companies in the world. And managers of the funds take a big cut despite not doing better than random choices, or a monkey throwing shit against a list of stocks to choose. Seriously.

[–] HobbitFoot@thelemmy.club 1 points 16 hours ago

You don't have to invest in the stock market to invest in a 401k. There are funds dedicated to bonds and you can pick the funds with low overhead ratios. You can even pick treasuries if you really want to.

It is better than shoving it under the mattress.

[–] CanadaPlus@lemmy.sdf.org 4 points 2 days ago* (last edited 2 days ago)

Yeah, but timing the market is always iffy. For all you know the bubble will burst so far out that it's still better to buy today.

Plus, you can invest in other countries. I myself hold some of an everything-except-the-US ETF.