this is awesome knowledge. I'm turning 31 this year with zero investments. Kind of blew all my money in my 20s. I'm on track to be debt free by end of year. My investment journey starts right after I make my last debt payment and I'm so excited.
Well done Dave. What in your mind is the advantage with multiple trading platforms? I also had M1 and Fidelity but moved it all to the latter. I like the simplicity of everything in one place, cash management accounts, options etc.
I use Vanguard to fund my investments and is there a way you can buy fractional shares or do they only allow you to do a lump sum strategy? when you say you invest $100 a week is that into one fund
With M1 you can purchase fractional shares. My $100 (Now $150) goes into about six funds based on the % setup in my pie. You set a target % and it adjusts to what is needed to keep those accurate.
Timing really does not matter in my opinion. I do Thursday but not for any particular reason. I love the way M1 handles drip. Any dividends received are re-invested back into the ETF/stock that is out of balance. I believe $25 is the minimum to trigger a buy.
I know this is entertainment purposes only and you’re not a financial advisor, but I’m 55 years old and plan to go to 865. What are some good recommendations for low cost index funds for someone my age of 55 comments are welcome.
VTI is the total US stock market. It is broader and includes small and mid cap companies which adds some diversification. VOO is the S&P500 so the 500 largest US companies. VOO has outperformed slightly over the years. You can't really go wrong with either one IMO. For the most diversity, VTI.
Apologies for silly question, but if you aim to invest $100/month, and the stock price for VTI is $265 (or thereabouts), how do you index invest in that case? And how is it best to manually buy shares every month? If you have say 3 you like, and dedicate $500/month... how do you divide it up? 1 share a piece and get near $500? Or is the $100 or $500 a specific number to invest? Thanks!
I like the way it fits with XLK and SCHD. It holds less stocks and has shown slight out performance vs VHT. VHT would still be a good option for anyone wanting the healthcare sector.
@@wealthadventures thank you, on a sad note, my best friend died while I was watching this video. Had more questions but... world turned kinda upside down
![M1 Finance Review [2024] - Investing Made Stupidly Simple](http://i.ytimg.com/vi/luiZosIZ2RU/mqdefault.jpg)
My kids are going to be pissed when I come home on Friday and say no more pizza nights
Completely understand! The little joys mean a lot as well.
this is awesome knowledge. I'm turning 31 this year with zero investments. Kind of blew all my money in my 20s. I'm on track to be debt free by end of year. My investment journey starts right after I make my last debt payment and I'm so excited.
Congratulations on this accomplishment, Dave. That kind of consistent investing is admirable. 👍🏻
Thanks!
Great content 👍💰💰💰💰💰💰
Thanks!
Well done Dave. What in your mind is the advantage with multiple trading platforms? I also had M1 and Fidelity but moved it all to the latter. I like the simplicity of everything in one place, cash management accounts, options etc.
You can hit limits for FDIC plus each one has some perks that I like. Certainly now necessary.
Been doing exactly that in M1 since 2019. Value today is 37k
Awesome! Keep it up.
Do you get tax with holding from Vxus dividends in a taxable account?
I opened up an UTMA account in my M1 Finance account for my daughter a couple of years ago. I'm depositing $200/monthly.
Lucky girl!👍
I use Vanguard to fund my investments and is there a way you can buy fractional shares or do they only allow you to do a lump sum strategy? when you say you invest $100 a week is that into one fund
With M1 you can purchase fractional shares. My $100 (Now $150) goes into about six funds based on the % setup in my pie. You set a target % and it adjusts to what is needed to keep those accurate.
XLV is a favorite of mine. Just wish it included more telehealth companies.
Good defensive sector ETF. 4 million baby boomers turn 65 in 2024 and it will continue for years to come.
Great video! Is there any secret to when the contributions are made? Is it set up to drip or any other method? Thanks!
Timing really does not matter in my opinion. I do Thursday but not for any particular reason. I love the way M1 handles drip. Any dividends received are re-invested back into the ETF/stock that is out of balance. I believe $25 is the minimum to trigger a buy.
I know this is entertainment purposes only and you’re not a financial advisor, but I’m 55 years old and plan to go to 865. What are some good recommendations for low cost index funds for someone my age of 55 comments are welcome.
Another great video! Would you pick VOO or VTI ? Can you please briefly tell me the reason for one vs another ? Thanks in advance.
VTI is the total US stock market. It is broader and includes small and mid cap companies which adds some diversification. VOO is the S&P500 so the 500 largest US companies. VOO has outperformed slightly over the years. You can't really go wrong with either one IMO. For the most diversity, VTI.
@@wealthadventures Thank you.
Apologies for silly question, but if you aim to invest $100/month, and the stock price for VTI is $265 (or thereabouts), how do you index invest in that case? And how is it best to manually buy shares every month? If you have say 3 you like, and dedicate $500/month... how do you divide it up? 1 share a piece and get near $500? Or is the $100 or $500 a specific number to invest? Thanks!
Most brokerages allow you to purchase fractional shares.
M1 does a great job with fractional shares so you can buy with any amount. Most other brokerages are offering this as well now. They make it easy!
What was the reason you chose XLV instead of VHT ?
I like the way it fits with XLK and SCHD. It holds less stocks and has shown slight out performance vs VHT. VHT would still be a good option for anyone wanting the healthcare sector.
Are you still sitting on a large cash position? In case of a bubble burst or is that all out of the window since inflation is cooling down?
I started putting more to work back in Oct 2023. Still have a lot of cash but that is also just part of my personal situation - I have plenty at risk.
@@wealthadventures thank you, on a sad note, my best friend died while I was watching this video. Had more questions but... world turned kinda upside down
@@fabiGBOtown So sorry to hear that. My condolences to you and the rest of their friends and family.
@@wealthadventures thank you so much brother. It has been a hard 24 hrs.
QQQM and VIG
Do you have a specific day you buy? If so, why?
No. Mine are set for Monday and Thursday but no real advantage. Coin flip!
If the stock market is rigged, then it benefits you to buy into it and get the same returns as the riggers 😂
True!
If you have less than 10k.now they charge you money
Are you talking about the mutual fund version (VTSAX)?