Thread

1. lukeify · 1789970963 · focus · HN ↗

   Given most financial advisors tend to vend out suboptimal advice and steer customers in favour of products they receive a kickback for, I'm happy to be accepting of an unbiased LLM that's trained on bogleheads.org.

   1. in_absentia · 1789971498 · focus · HN ↗

      If that's what you want, I'll save you some tokens:

      #!/bin/sh

      while read question; do echo "Put it into VFIAX"; done

      1. ehe78qhe · 1789972101 · focus · HN ↗

         This is missing a lot of steps like:

         - Building an emergency fund

         - Budgeting and tracking where your money goes

         - Planning and saving for large purchases like cars, homes and life goals

         - Optimizing use of tax-advantaged accounts like 401Ks, HSAs, and IRAs

         - What to do with ESPPs, RSUs, and options

         - How taxes work and how to optimize around them

         - Estate planning

         1. red-iron-pine · 1790016451 · focus · HN ↗

            yeah but most of that is 1) covered by bogleheads, and 2) doesn't require serious education or advisors.

            take emergency funds -- how likely is it you can lean on friends or fam for money? do your budgeting and then plan for 6-12 months of budget. if you can get a load from the bank of mom and dad then maybe 3 months.

            1. ehe78qhe · 1790071716 · focus · HN ↗

               You are vastly overestimating the financial literacy of the average american

               I regularly explain to friends:

               - how interest works on their credit card

               - that buying a used car is usually far cheaper than leasing or financing a new one

               - what inflation is

               - what an RSU is (to people who indiscriminately call all equity "options")

               - what capital gains tax is

               - how to buy index funds (as in, the steps to sign up for vanguard or whereever and buy funds)

               - what settlement is

               infamously, a lot of americans don't understand progressive tax brackets and assume that if they get a raise they'll lose it all to taxes

               I have heard friends claim that paying 50% tax on income is normal

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