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[-] JasSmith@sh.itjust.works 4 points 1 year ago

Diversify homie.

[-] FlyingSquid@lemmy.world -1 points 1 year ago

I'm not a financial wizard, "homie." It's not my area of expertise. I wouldn't try doing surgery on myself either.

[-] JasSmith@sh.itjust.works 1 points 1 year ago

Diversification isn't brain surgery. It just means buy different things. Put some into a savings account, some into your retirement account, and some shares of VOO. Consider property, gold, bitcoin, bonds, and whatever else floats your boat. Spend a few hours on Google and you're good to go. You can obviously read and you have the internet so you'll have no issues with any of this.

[-] FlyingSquid@lemmy.world -5 points 1 year ago

I have no idea what VOO means. I don't have time to research this sort of thing. I sincerely doubt you can learn enough in a few hours on Google to ensure proper retirement investment. I think that is highly unlikely and if that is what has done it for you, you've just been lucky.

Business schools in universities exist for a reason. MBAs exist for a reason.

[-] JasSmith@sh.itjust.works 3 points 1 year ago

I have no idea what VOO means.

Since you can read and you have the internet, you could find out what VOO is within seconds. This learned helplessness routine of yours is not believable. You don't need an MBA to open a bank account, or an account with a broker.

[-] I_Fart_Glitter@lemmy.world 2 points 1 year ago

You know how every bank commercial says "FDIC insured" at the end? That means you've got insurance on your money in there up to $250K. Don't put more than that in any account or a crash may disappear it. This is why you diversify.

https://www.investopedia.com/articles/investing/121814/look-vanguards-sp-500-etf.asp

The Vanguard S&P 500 ETF (VOO) is a fund that invests in the stocks of some of the largest companies in the United States. VOO is an exchange-traded fund (ETF) that tracks the S&P 500 index by owning all of the equities within the S&P 500. The S&P 500's investment return is considered a gauge of the overall U.S. stock market.

An index is a hypothetical portfolio of stocks or investments representing a specific portion of the market or the entire market. The S&P 500 and the Dow Jones Industrial Average (DJIA) are both examples of broad-based indexes. Investors cannot invest in an index. Instead, they can invest in funds that mirror an index.

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