Help with Making Investment Decisions.

Hi Everyone!

I am a new American (44 years of age) and have come to live and work in the USA. Do not have a background in investing for the future but now I live legally in the USA (and am earning more money) - I want to start but am not sure where to begin. 

My work does not offer a 401K and by next spring I should have around $20k to start investing. I know a Roth IRA has a limit of $6k per year. My health care is covered thanks to my military service. So where can I put the other $14K? 

Obviously I want as much growth as I can and am not averse to taking risks for better returns. 

Any thoughts are appreciated.



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  • If you have a high deductible medical insurance plan you can contribute to a health savings account (HSA).  Just do your research on line about all the rules for HSA accounts.  A lot of people use this as another investment similar to a Roth except better.  You can deduct your contributions to this plan (3500 for single and 7100 for married for year 2020).  If the plan is through you employer and they offer payroll deductions then you would be better to have the max amount deducted from you paycheck because in that scenario you would not pay any taxes on that money (no social security, medicare, or income tax), it is called a triple tax advantage if done that way.  If done outside payroll deduction you would only get the income tax advantage.

    Once you have exhausted all avenues for tax advantage investing I would highly recommend looking into a company like Vanguard and check out their index funds, I actually have a Roth IRA and a traditional IRA and a taxed investment account with them.  I personally have their total stock market fund and their total bond market fund.  There are strategies for balancing those types of funds.  Two books I have read on investing are "The Little Book of Common Sense Investing by Jack Bogle" and "The Simple Path to Wealth by J.L. Collins".  Both of these books are very good.  I wish I had read them earlier in my career but better late than never. 

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      • PhysicsGal
      • Nerdy female homo sapien
      • physicsgal
      • 11 mths ago
      • 1
      • Reported - view

      If you don't have any other tax advantaged account options, you'll have to go with a taxable account.  I'm not an expert, but for a taxable account I would definitely look into the issue of how to minimize taxes on your taxable investments.  I ended up just choosing an ETF fund for mine because then I only have to pay taxes when I sell it, but there are probably even more complicated schemes to use for minimizing taxes if that's going to be your main investing type.  I would check out the Bogleheads wiki page to learn more, and then you can ask people on the forum for advice.  They are super helpful and experienced.

      Like 1
      • nolesrule
      • Stealing From the Future fix is an improvement but is incomplete....
      • nolesrule
      • 11 mths ago
      • Reported - view is where I learned what I needed to self-manage my portfolio.

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