If you are ‘upper class’ how did you make your fortune?

amother

↑ Calendula ↓

Today at 11:45 am

amother Cream wrote:

SWTSX is the equivalent to VTSAX. I was advised to invest 80% in that and 20% in SWISX (an international Index Fund) The Schwab funds have zero fees FYI

Since I’ve never done this before, what would you advise should be the minimum amount to start off with when investing for the first time?

amother

↑ Babyblue

Today at 12:00 pm

amother Calendula wrote:

Since I’ve never done this before, what would you advise should be the minimum amount to start off with when investing for the first time?

I’d recommend speaking with someone investing or an investor to see if this is a good place to invest in…

amother

↑ Cream

Today at 12:15 pm

amother Calendula wrote:

Since I’ve never done this before, what would you advise should be the minimum amount to start off with when investing for the first time?

I spoke to a financial advisor about this. I specifically was asking where to invest a small portion of my weekly income. So this is a weekly investment of lets say $200 and I invest it in the ratio of 80 and 20%

amother

Yellow ↓

Today at 12:24 pm

We have our own business that really took off. We are multi millionaires. Through bitcoin andvother crypto editing to add that we struggled for many years . We didn’t give up to get our own business off the ground.

amother

↑ Calendula ↓

Today at 12:34 pm

amother Yellow wrote:

Are both of you working very hard now or was that only in the beginning?

amother

↑ Yellow

Today at 12:41 pm

amother Calendula wrote:

Are both of you working very hard now or was that only in the beginning?

Not working hard now. Mostly retired and not yet fifty.

amother

Wheat

Today at 12:42 pm

amother Stone wrote:

The first step is financial literacy. Not a little bit. Read lots of books (Or audiobooks or online courses - but not pop stuff or magazines or pop podcasts.) Follow the market even when you have minimal investments so you have a visceral sense of what the up and downs look like. Read the Wall Street journal or Barons. I have some family money but that doesn't last without real financial literacy. My father insisted we all read and have a good understanding of finances and taxes and investment. Of compound interest and the wealth mindset.

I know you're lacking in this from your OP. I'm not trying to sound mean but that is the first step.

If I need baby steps now then what’s step number 1?

amother

↑ Stone

Today at 12:45 pm

amother Wheat wrote:

If I need baby steps now then what’s step number 1?

There are no baby steps towards wealth. That's what I've been saying over and over. Wealth is acquired through dedication and mindset changes.

There are baby steps towards financial stability but I'm not an expert on that, other people are. Probably a combination of budgeting, saving, and investing in a low fee index fund.

amother

Natural

Today at 2:13 pm

Serious question:
Does anyone become financially comfortable from their work?
Does anyone have a business where they would be %100 proud of how they treat their employees, of all of their business practices?
Who has a job where they believe everything they say, and where they would be happy to be on the other side of the deal with supplier, customers, workers, etc?

amother

Myrtle

Today at 2:35 pm

When I got married , my grandfather gave me 100k to buy a house… then we bought another house and another house…
We dont live a crazy rich lifestyle , but we do have some lavish things…like household help or summer home or summer camp for kids. And I do believe in good shoes. However we dont drive the latest style car , and I shop sales for clothing for myself and kids. Would never spend too much money on a bar mitzvah or wedding and my stroller is 2nd hand. And bh we can afford to help some people around us.
It simply goes down to priorities.
I do not look like a ultra rich lady, maybe just an average one and it’s fine to look like that.

amother

↑ Calendula ↓

Today at 3:28 pm

amother Myrtle wrote:

When I got married , my grandfather gave me 100k to buy a house… then we bought another house and another house…
We dont live a crazy rich lifestyle , but we do have some lavish things…like household help or summer home or summer camp for kids. And I do believe in good shoes. However we dont drive the latest style car , and I shop sales for clothing for myself and kids. Would never spend too much money on a bar mitzvah or wedding and my stroller is 2nd hand. And bh we can afford to help some people around us.
It simply goes down to priorities.
I do not look like an ultra rich lady, maybe just an average one and it’s fine to look like that.

You mean you bought a house with your grandfather’s money for investment or to live in?
How many houses do you have?
How long were you married for?

amother

↑ Dahlia

Today at 3:48 pm

amother Stone wrote:

Whichever has the lowest fees. With index funds you always go for the lowest fees. That's how index funds work.

Alot of index funds are avail on robinhood....
no fees at all.....
am I missing something?

amother

Cognac

Today at 3:51 pm

amother Stone wrote:

You sound very arrogant.

amother

↑ Calendula

Today at 4:01 pm

amother Dahlia wrote:

Alot of index funds are avail on robinhood....
no fees at all.....
am I missing something?

Explain- index funds, robinhood…