Let's talk a little about bitcoin and cryptocurrencies! Plus, I'm answering one readers question about my investing strategy.
Hey Money Badasses!
How’s your week going? Mine has been amazing.
My wonderful fiancée, Krista and I celebrated our birthdays with an awesome steak dinner at Jeff Ruby’s Carlo and Johnny restaurant. If you are ever in Cincinnati, you need to try this restaurant! It’s the best restaurant we’ve ever had in ANY city!
Even Mark Wahlberg came to town recently and said they had the best steak he has ever tasted! How could Mark Wahlberg be wrong?? ;)
MICROSOFT SURFACE LAPTOP VS APPLE MACBOOK AIR
I finally bought a brand new laptop during Black Friday. I’ve been living off of hand me downs and freebies pretty much for the last 10 years. I decided it was time to get a new laptop that didn’t weigh 10 pounds and have a battery life of 1 hour.
After a lot of debate between a Microsoft Surface Laptop and the Apple MacBook Air, I ended up pulling the trigger on MacBook Air that was on sale. Took me a couple days to get use to, but I really like the new laptop! Great battery life and super light. Now I feel like a truly have a mobile office in my back pack!
WHAT IS ALL THIS BITCOIN TALK???
I purchased my first cryptocurrencies last week. It’s crazy how these currencies are going through the roof! I’m just now getting my feet wet and enjoying the adventure of a new investment option.
I’m sure by now you’ve heard all this Bitcoin and Cryptocurrency talk. It’s huge news in the investing world. Are you curious about what it is and how you can jump into the fun??
Luckily for you Alex M., from coinpupil.com has an awesome BEGINNERS GUIDE TO CRYPTOCURRENCY TRADING for all of you! If you’ve been interested in getting in on this new movement, this is where you start!
MONEY BADASS Q&A
Ok, here we go, the first Q&A from you amazing Money Badass email subscribers:
QUESTION: What is the best strategy, maximize 403B/401k and solid insurance or diversify starting early on into stock account with diversified stocks, bonds, ETFs and other things?
WARNING: THIS IS MY INVESTMENT STRATEGY AS A MILLENNIAL. THIS IS WHAT I DO. EACH PERSONS SITUATION IS DIFFERENT. ALWAYS CONSIDER THE RISK WHEN TAKING INVESTMENT ADVICE FROM ANYONE.
ANSWER: Here’s my suggested investment strategy boiled down to the essentials:
Start by investing 10% of your income to your companies 401K in a S&P 500 Index Fund. (Make sure you’re getting that company match!)
Invest 5% in a Roth IRA in a S&P 500 Index Fund.
Invest 5% in a brokerage account like Robinhood into 5 good stocks in 5 different good sectors.
If you can do this, you will have pretty good investment income and a solid financial future. Take it step-by-step. Start with 1, complete that, then start 2. Don’t rush it.
Keep sending in those questions guys and I’ll keep answering them.
DAVE | CREATOR OF LET’S AUTOMATE YOUR MONEY
CREATOR OF MONEY BADASS