Here is the list of books I recommend to read if you want learn about personal finance and investing. Highly recommend to start from A Random Walk down Wall Street. It's a great book for beginners that introduces the main concepts of investing and personal finance.
- Vanguard Prime Money Market Fund* is a great option for your emergency stash.
- New Jersey Tax-Exempt Money Market (VNJXX) ($3,000 minimum) (0.16% ER)
- In general not a good choice because you lose money upon yearly inflation.
- Has less than 1% annual return
- Maybe good just simply for safety net
- Maybe money market funds can replace the saving accounts
- American investment management company based in Malvern, Pennsylvania with over $4 trillion in assets under management.
- Vanguard Index Fund that has 0.1% - 0.2% fee and ~9% annual return, but after inflation it comes down to 3.5% - 4%.
- There is no commission fee on Vanguard. Funds charge you an expense ratio
- Long term investment 20–30 years
- Total World Stock Index Fund
- Vanguard Total Stock Mkt Idx Inv (VTSMX)
- Vanguard Growth Index Fund Inv (VIGRX)
- Vanguard Growth and Income Inv (VQNPX)
- Vanguard LargeCap Index Fund Inv (VLACX)
- Vanguard 500 Index Fund Inv (VFINX)
If you need your money in a year or less (short term investment), you better stick with low-risk investments that are easy to access, like money market funds or savings accounts.
- Intermediate term bonds
- maybe 60% bonds and 40% stocks (mostly depends on the risk you're willing to take)
- Vanguard Total Bond Market Index ($3,000 minimum) 60%
- Vanguard Total Stock Market Index - 40%
- Save as much as possible on 401K plan. Max it out.