CVW Financial | Personalized Investment & Financial Advice

Where Can I Put My Money?

Timothy Walt

Adapted from the Newsletter,

The Young Professional's Guide to Financial Success

"A Just Get to the Point Newsletter"

Today, I'd like to discuss the issue of how you determine what and where to save.

My hope is that you walk away knowing what some common investment vehicles are and how they are used. There are laws governing these accounts and I could not possibly go over everything, but I'd like to give you a basic understanding of what is out there.

Your timeline and which investment vehicles to use are interlinked.

The first thing that you have to determine is your timeline. If you need to save for something within a year (a downpayment on something, for example), you probably need that to be in cash. As nice as it sounds to put your money "to work for you" in the market and boost that savings, realistically, that's not going to work. Dreaming of finding that one stock that costs $1, then becomes the next Amazon, making you fabulously wealthy, are just that: dreams. It's not that that can't ever happen, it's just too risky for short-term savings.

Investment Accounts

If you are saving for retirement, then there are both employer-sponsored accounts and ones you can set up yourself.

The most popular employer sponsored plans, which are named after the tax code that created them:

Then there is the retirement plan you make for yourself:

Conclusion

There are many options for where to invest and what to invest in. The choice comes down to the purpose, the timeline, and what is available to you.

There are rules for whether and how you can use some of these separately or together, but conceptually I hope this helps!

Wishing you a prosperous career!

And of course, the fine print:

CVW Financial, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

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(857) 540-9323

tim@cvwfinancial.com