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Podcast Episode 4: How Much Should I Be Investing?

| September 17, 2018
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Welcome to another episode of The Denver Wealth Podcast! This episode was inspired by a question we received on our Facebook page, and a great question at that. Don’t hesitate to send us any questions you have whether you’re a beginner investor or a stock market veteran.

Our question today comes from Blaine in Sweetwater, Texas:

“What percent of your income should you be investing?”

 Simply answered: it depends.

What we like to see for retirement savings:

At least 15% of your income for 30 years with an 8% rate of return.

Retirement Calculator: https://www.nerdwallet.com/investing/retirement-calculator

  • Note: Set 15% in monthly savings category, rather than the 10% they recommend.

How much money do you already have set aside?

What is the time horizon you’re looking at in order to access these funds?

What is your rate of return?

Does your job offer a company match?

 

What if my goal is shorter-term (i.e. purchasing a home)?

In how much time are you looking to accomplish this goal?

How much should you put into the down-payment? How much can you afford?

What type of account should you use for shorter-term goals?

Individual investment accounts/brokerage accounts: https://www.investopedia.com/terms/b/brokerageaccount.asp

How are taxes effecting your investments?

 

As always, thank you for listening! Subscribe to our podcast on iTunes; follow us on Twitter @DenverWealth; sign up for our email club on our website.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Any quoted rate of return is a hypothetical example and is not representative of any specific investment. Your results may vary. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

No strategy assures success or protects against loss.

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