Personal Finance on Sidechat | Can someone give me advice for IRA’s and investments. I haven’t put in money yet in my IRA or personal investments, this is pic strictly my 401k and can I get general saving advice I make the most money in my fam and it’s hard to learn everything alone

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Personal Finance 3w

Can someone give me advice for IRA’s and investments. I haven’t put in money yet in my IRA or personal investments, this is pic strictly my 401k and can I get general saving advice I make the most money in my fam and it’s hard to learn everything alone

13 upvotes, 32 comments. Sidechat image post by Anonymous in Personal Finance. "Can someone give me advice for IRA’s and investments. I haven’t put in money yet in my IRA or personal investments, this is pic strictly my 401k and can I get general saving advice I make the most money in my fam and it’s hard to learn everything alone"

Anonymous 3w

Lowkey you’re already ahead just by thinking about this stuff. If you wanna keep it simple, start with a high‑yield savings account for your emergency money SoFi, Ally, Marcus… they all pay around 4%+ and it’s way better than letting cash sit in a regular bank. Can you have a good amount so your interest will help. For investing, don’t overthink it. ETFs are the easiest way to start without stressing about picking stocks. Stuff like VOO

Anonymous 3w

A lot of people jump into random stocks thinking they’re gonna hit a lick, but that’s how you lose money fast. If you don’t understand the company’s fundamentals revenue, debt, competition, long‑term outlook you’re basically gambling. Stocks move for reasons, and if you don’t know why they move, you can’t control your risk.

Anonymous 3w

And definitely do a little research before making any financial decisions, you can look on r/personalfinance or YouTube beginner‑friendly breakdowns everywhere. You don’t need to know everything at once, just start small and stay consistent.

Anonymous 3w

That’s why beginners usually start with something like an S&P 500 ETF. It’s not one company it’s the top 500 in the U.S. all in one. If one company has a bad year, the other 499 balance it out. It’s diversified, low‑risk, and historically the market grows over time. You’re betting on the entire U.S. economy, not one CEO or one product.

Anonymous 3w

That’s why most people start with something like an S&P 500 ETF. It’s the base layer diversified, steady, and built on the top companies in the country. Once you have that foundation, then you can branch out and learn individual stocks, fundamentals, all that. But the ETF gives you stability while you’re still learning the game.

Anonymous 3w

not for free sorry

Anonymous 3w

You’re the real joke here. Arguing with ChatGPT. Have fun being a sheep for the rest of your life. Baaa Baaa have fun with your 401k and ETFs 😂😂

Anonymous 3w

Kid really thinks AI detectors are accurate 💀. And I never said I invest in a Traditional 401k I literally said I prefer a Roth 401k. My point is just this: don’t call something a scam when it’s worked for millions of people

Anonymous 3w

Kid blocked me because he can’t handle a conversation 😂😂

Anonymous

#2 3w

QQQM, or SCHG lets you own a whole basket of big companies for cheap. Throw in whatever you can each month and let it grow. These are American Etfs so it just means you believe the U.S market will grow in the future and it’s perfect for passive investing

Anonymous

#2 3w

And honestly, learning this stuff is the foundation. Before you start throwing money at random stocks, you gotta understand what you’re buying and why. If you skip that part, you’re basically gambling.

Anonymous

#2 3w

I will say S&P isn't diversified enough rn. I'd hold multiple ETFs when I would usually recommend just by spy and call it a day. The vanguard total market ETF might be a good pick rn.

Anonymous

#5 3w

Huh

Anonymous

#4 3w

The S&P 500 is still the safest starting point for beginners. It’s broad, it’s stable, and it teaches you how the market actually moves without throwing you into the deep end. Total‑market ETFs are great too, but they’re basically the S&P with extra mid‑ and small‑caps sprinkled in. For someone learning the basics, keeping it simple with the S&P as the foundation just makes sense.

-1

Anonymous

#5 3w

OP is asking for advice. This is my answer

Anonymous

#5 3w

love when people come to YY for financial advice meant for a financial advisor or someone who actually knows a lot abt investments or finance. and the reality is those same people won’t give you quality advice for free. any feee advice is bad advice

Anonymous

#5 3w

Free advice isn’t automatically bad. bad advice is bad advice, whether you paid for it or not. Most beginners aren’t asking for a full financial plan, they’re asking for the basics so they don’t get scammed or gamble their money away. You don’t need a CFP to explain what an ETF is or why diversification matters.

Anonymous

#5 3w

And let’s be real: the people who do know this stuff usually learned it from free resources themselves books, YouTube, forums, classes, podcasts. Nobody is charging you to understand the S&P 500. If anything, sharing simple, accurate info helps people avoid the actual bad advice that costs money.

Anonymous

#2 3w

OK. My advice. Trad 401k is scam. You will be taxed out of hell. Put money in Roth 401k and Roth IRA. HYSA also scams. Make less than inflation and devaluation of dollar due to supply. Put money in a low vol fund like FDLO. Combo of four accounts: Roth 401k, Roth IRA, Low vol broker, High vol broker. Don’t forget abt international exposure. But then again this advice is bad because it’s free. 😂 my point stands. let me just ask the stranger how to invest my money ha

Anonymous

#5 3w

If that’s how you feel about those accounts, cool everybody’s strategy is different. But that’s exactly why I’m not here to tell anybody what to do with their money. I’m just giving them the basics so they know what to research and what options even exist.

Anonymous

#5 3w

At the end of the day, nobody should blindly follow a stranger’s plan not yours, not mine, not anybody’s. Learn the concepts, look into what you believe in, and build a strategy that fits your goals. That’s the whole point.

Anonymous

#5 3w

I agree I don’t think all paid advice is good but I think all free advice is bad. The info you’re giving is very general about the sandp and such. My pony stands if OP wants quality advice he needs to go somewhere else

Anonymous

#5 3w

You’re calling everything a scam, but none of what you said is actually factual. Trad 401ks, HYSAs, Roths, low‑vol funds they all have pros and cons depending on income, taxes, and goals. There’s no one-size-fits-all plan, and acting like your personal setup is universal doesn’t make it true. That’s why instead of telling strangers exactly what to do with their money, it’s better to point them toward concepts to research and build a strategy that fits their situation.

Anonymous

#5 3w

You’re saying all free advice is bad, but that doesn’t make sense. Basic info about the S&P, ETFs, taxes, or account types isn’t “advice,” it’s education. People need the fundamentals before they even know what questions to ask a professional. If OP wants a full personalized plan, sure that’s for an advisor. But if they just need to understand the building blocks so they don’t gamble their money away, general concepts are exactly where they should start. lol it’s just learning the basics bro

Anonymous

#2 3w

Trad 401k. Which matters bc OP says he is diversified in. Tax rates by 59.5 will be much much higher. You are agreeing to be put in index funds and be taxed at insanely high rates in like 40 years. At that point just put money in a NQ account … 401k is most misunderstood tool in finance really so much opportunity cost you are missing by locking up money. And does everyone know you are still taxed? How is this not factual?

Anonymous

#5 3w

You’re treating guesses about future tax rates like facts. Nobody knows what taxes will look like in 40 years, which is why Trad vs. Roth depends on your current bracket and long‑term plan not fear of the unknown. A Traditional 401k isn’t a scam; it’s tax‑deferred, comes with a match, and can be a net win depending on income and goals. A brokerage isn’t automatically better either you’re still paying taxes, just differently

Anonymous

#2 3w

There is no universal “best” account, it all comes down to strategy, not predictions.

Anonymous

#5 3w

😂😂😂😂😂😂 who takes the time to use ChatGPT to talk with a stranger about finance. what a world we live in!

Anonymous

#5 3w

You want to be broke and financially group think like everyone else use AI just wants you to be dumber and make dumb decisions about finance. You wanna make real money talk with someone who doesn’t need a computer to think.

Anonymous

#5 3w

Explain how the S&P 500 is supposed to “keep me broke” when it’s literally the benchmark the entire investing world measures performance against. VOO is a foundation, not a whole portfolio. Just because I invest in it doesn’t mean it’s 100% of what I own 💀. It’s called diversification one core position, then you build around it based on your goals and risk. Come on now bro😂

Anonymous

#2 3w

The S&P is way too volatile right now with large drawdowns possible in 2026. Could really discourage someone new to investing. I'd recommend a total market ETF and an international ETF right now. You'll still get the AI melt-up in there without the drawdowj risk for this year.

Anonymous

#5 3w

Hey #5 I was just asking for general advice seeing I’m not taking it to heart, if something standouts I’ll do my own due diligence. There’s no need to be rude, anyways I hope you have a great week!