I did this for a half dozen or so years before retirement, putting excess money into dividend paying stocks in M1 Finance. Now practically every morning when I get up, I see a notice from M1 Finance on my phone, "You have received X dividends". What a nice way to start a day. LOL. And the funny part for today was the amount I received covered my groceries at the store. Free groceries.
I always contribute to get my 401k match, then max out my HSA, then max out my Roth IRA, and then put more in my 401k if I don't need the money and/or want to lower my taxable income. I was thrilled to hear you mention the HSA, James. Dave Ramsey needs to take your advice and update his curriculum.
There’s nothing wrong with keeping it simple, and after the 401k and Roth IRA contributing to a taxable account, as you mentioned. The nice part is other than capital gains or dividends (which are taxed at a lower rate than income) there’s no limits on using that income at certain ages.
I did this for a half dozen or so years before retirement, putting excess money into dividend paying stocks in M1 Finance. Now practically every morning when I get up, I see a notice from M1 Finance on my phone, "You have received X dividends". What a nice way to start a day. LOL. And the funny part for today was the amount I received covered my groceries at the store. Free groceries.
I always contribute to get my 401k match, then max out my HSA, then max out my Roth IRA, and then put more in my 401k if I don't need the money and/or want to lower my taxable income. I was thrilled to hear you mention the HSA, James. Dave Ramsey needs to take your advice and update his curriculum.
There’s nothing wrong with keeping it simple, and after the 401k and Roth IRA contributing to a taxable account, as you mentioned. The nice part is other than capital gains or dividends (which are taxed at a lower rate than income) there’s no limits on using that income at certain ages.
I love your practical way at looking at life. great resource!
Another thing I did is to put it in high interest savings account, 3.40% monthly interest.
Great
I have no debt. I max my 401k and IRA. Is it fine to move my money into a brokerage after saving the 6 month emergency fund?
MAX that HSA!