@sockmonkey said in Health and Wealth and GrownUp Stuff:
Does anyone have some really really reeeeeeally intro stuff about retirement planning? Not just the planning part but how to actually get the money into those funds? Do I..just go to the bank? Can I do it online? Aaaaaargh getting old noooooo.
I have some money I need to invest but I have no idea how to do this. I know that for my needs, I do not need to waste money on a financial advisor to manage my cash -- I should just park it somewhere. But financial matters seriously make my eyes cross and I have trouble even using the retirement calculator on Vanguard. My retirement plan at this point is to get dementia so I don't realize that I'm living in a dumpster.
Message me. Seriously. I work in one of several marketing and communications departments (yeah, legit, we have.... five? one for each of our business lines) at one of the largest investment firms in the US. (In the world, actually, as we have several trillion AUM.) And the most ethical one, IMO, specifically because of its weird ownership structure. And no, I don't say that because I work there. I took a paycut to work there, specifically because of how impressed I was by their treatment of average investors and the fact that they've quietly supported the fiduciary rule for yeeeeeeeeeeeears, kind of in the exact opposite manner of the fuckheads that caused the mortage meltdown. (If you don't know what that 'fiduciary rule' is, look that up. And if you're an American, be horrified that this isn't required by regulation or law. Seriously. Then call your 401K provider and be like, "The fuck?")
Now, I cannot legally give you financial advice, because I'm not FINRA licensed. In fact, I could very much be fired from my company for doing so because that's a great big fat no-no. And I do not want to be fired from my company because, like.... I enjoy eating and having a place to sleep and stuff. But I can probably walk you through the basics of what those funny words in your company's retirement plans are if you have one, or how to set up an IRA (that's Individual Retirement Account) for you if you don't.
And if it turns out you need an IRA, I'll give the Friends & Family hotline for my company if you want it. It's set up so that people who work at the company but aren't in a licensed role -- like me and pretty much my entire department -- can give it out to, well, friends and family who ask them for financial advice. (No, we do not receive any sort of commission for this. It's literally just to keep us in compliance, so we don't accidentally break the law by trying to help you. The only money I can make off my friends there is a referral bonus for people they hire.)
If you have a retirement plan through your employer, you're pretty much stuck with whatever your benefits team picked for you, unless you want to open an IRA on top of that.