Legitimate Financial Advice

Vanguard makes you obsolete.

how much do you make? do you see many math majors in finance?

>>1774179
So the basic advice I always hear is
>pay debts before investing, in order of interest rate
>have enough liquid assets for a few months of bad luck
>look at tax advantages
>index funds
What's your take on this? Whats your first few points of advice beyond that?

I'm a UHNW financial advisor and I'd like to test your level of training, please answer the following:

I am an executive who has made significant amounts of money in a non qualified 457 plan (1.75 mil) Unfortunately the bulk of this was done in a state with significant state income taxes (say 5%). Can you describe for me a strategy to redomicile the income in my nonqual deferred comp to my current state of residence (0% state taxes)?

Are you really a financial advisor or just a bank teller who opens $100 IRAs

>>1774451
Im interested in this, how would you do so ? Is this a basic new incorportation & merger scheme ?

>>1774222
>pay off all debts first
True. If you have any sort of superfluous debt (credit card debt, pay day loan debt, car payments, etc) anything that has an interest rate NEEDS to be paid off unless it's a mortgage/business loan. But if you have those you should have fixed the other debt before incurring more.

>step two: emergency fund
You NEED AT ALL TIMES to have atleast ONE YEAR's worth of living expenses. I don't mean invested, I mean literally take the amount you owe monthly for rent/food/utilities/gas/etc. and multiply it all by 12. At a minimum you should have atleast half that before you even consider investing, bad shit happens to everyone and you don't know if tomorrow is your day to lose a leg to cancer or get fired.

> From there, it wholly depends on your goals.

Investing for retirement? Just get a Roth IRA and dump your maximum into it yearly, buy index funds and let the money sit until you're 60.

If you want to go even further with retirement money, see if your workplace offers any sort of 401k plan, if they do - GET ON THAT SHIT YESTERDAY, if they match any contributions it's literally free money you have been missing out on.

If you want to use a brokerage account, you need to honestly look at your own capabilities. If you're planning on investing in anything except for blue-chip stocks (stocks from very consistently succesful corporations) and Index/Mutual funds, you need to seriously just lock your money in a vault because you'll make more.

Brokerage accounts should only be used if you have ACTUAL investong knowledge, as the fees and taxes on your gains will reduce your net profit to nearly zero without a good enough return rate.


I highly recommend starting out by maxing out the Roth IRA and then using any money from there to fund a brokerage if you really trust yourself.
>>1774189
Just north of 76k a year currently, been at it for 4 years since graduating college.

I've seen a few math majors at my firm, but they're not a norm.

>>1774451
Fake my own death and will everything to a new identity in Aruba.

What school did you go to?
And do you enjoy your job