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Late Start But I'm Excited to Be Getting Started
Old 11-22-2015, 05:41 PM   #1
Confused about dryer sheets
Join Date: Nov 2015
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Late Start But I'm Excited to Be Getting Started

So happy I found this message board! I really need a financial family. haha

I'm really hoping to receive some guidance while reading a lot of what is already available. 32 years old, run my own online business with my wife (we've been married for 10 years). No Debt, 6 month emergency fund, but not one penny set aside for retirement. But ...

We are planning to FINALLY start putting money away January 1st 2016 towards our retirement. Not exactly sure what we are going to do quite yet but we'll have around $10,000.00 to get started and should be contributing another $25,000 in 2016. That is the goal right for next year. But the long-term goal is to retire in our late 40's (we have around 15-19 years to complete this goal).

But we are not 100% on where we should start. We have a TD Ameritrade taxable account right now but not sure if we should go with: ETF's, Dividend Stocks, or just let a company manage the money.

We are not sure where to start but I will for sure be asking/reading around as we prepare for our new financial plunge. Any information would be great!

But here is my first post, my introduction! haha

Any input would be great! Thanks in advance!

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Old 11-22-2015, 05:51 PM   #2
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Welcome aboard. You're not late, many here started later and retired early successful. And there are a lot of unavoidable expenses in your 20's while you're getting established. To retire in 18 years or less, you'll have save a lot, spend less in retirement or both. The same trade off everyone faces...

No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
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Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
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Old 11-22-2015, 07:19 PM   #3
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Welcome. I started a couple of years later than you.
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Old 11-22-2015, 08:37 PM   #4
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Welcome to the board, Pizza! You'll find lots of great threads and topics here. For some structured guidance, check out the Bogleheads wiki:

The kids used to call me Captain Slow; now they also use Captain Cheap. I tell them, "Talk to the portfolio!"
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Old 11-23-2015, 06:13 AM   #5
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Do you have a 401k available? If not you should start a IRA. Go cheap and learn how to manage your own money.....look at ETF and index funds..... the cost of others managing your money comes directly out of your pocket. Vanguard is where I would start.....get some need to learn a balance between stocks and bonds. It's all on the internet.....someone suggested it. After you have saved during the next year or two, your options, having 35k will be far better. Just you'll accomplish your goals.
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Old 11-23-2015, 08:00 AM   #6
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Welcome! I echo the advice from people earlier in the thread - watch the fees on your investments carefully. Over decades, even a small fee difference can really add up.
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Old 11-23-2015, 02:37 PM   #7
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Suggested reading:

Millionaire Teacher by Andrew Hallam

A Random Walk Down Wall Street by Burton G. Malkiel

Your Money & Your Brain by Jason Zweig

The Millionaire Next Door by Thomas J. Stanley and William D. Danko It is a bit dated but it is a classic for a reason.

Predictably Irrational by Dan Ariel

How a Second Grader Beats Wall Street by Alan S. Roth

Suggest you start with Millionaire Teacher and How a Second Grader Beats Wall Street. Both are great for new investors and emphasize the importance of keeping fees low over time. That makes a huge difference in what you get to keep.

If you don't do anything else then at least open a target date fund at Vanguard and contribute a lot regularly.
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Old 11-23-2015, 04:06 PM   #8
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Old 11-23-2015, 06:18 PM   #9
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Since you're self-employed, aside from the IRA, I believe you're also eligible for a Solo 401k. That should allow you to shelter more pre-tax dollars.

Since you plan to retire in your 40s, don't forget to save a significant chunk in taxable accounts and maybe Roth, too.
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Old 11-26-2015, 10:52 PM   #10
Confused about dryer sheets
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Thanks so much for all the positive comments & tips! I'm excited for this journey and excited to watch others do the same. Thanks again!

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