Shannon

“Types of Funds MUTUAL FUNDS. A group of stocks tracking a particular part of the stock market that can be traded only when the stock market is open. They are actively managed, meaning that you’ll pay an extra fee for an “expert” to pick stocks for you. EXCHANGE-TRADED FUNDS (ETFs). A group of stocks tracking a particular part of the stock market that can be traded at any time, even when the stock market is closed. Typically, ETFs are cheaper than a mutual fund, because they are passively managed (no manager to pay). INDEX FUNDS. One of the most popular choices in the personal finance community, an index fund is a mutual fund or an ETF that’s designed to track a particular part of the stock market, such as the S&P 500. I’m index funds’ biggest fan: they are diversified, extremely low in fees, and more stable than individual stocks.”
― Tori Dunlap, Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love—A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy

“Forty percent of Americans cannot come up with $400 in an emergency.”
― Morgan Housel, The Psychology of Money

“Savings accounts are meant for short-term goals, where you need to access the money easily (à la an emergency fund), not for long-term wealth building.”
― Tori Dunlap, Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love—A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy

“I personally like the Roth flavor for a few reasons. The first: it’s like giving sixty-five-year-old me a little gift: “Here’s this lump sum of money that I already paid taxes on; go take Hot Luca on a trip to Costa Rica.” I also have no idea what the fuck tax rates are going to be when I retire. I’d rather pay them now than leave it up to chance. Also, most people’s salaries grow throughout their careers; I expect (hope!) that you’ll be making more in twenty years than you do today, so you could contribute and pay less in taxes now, when you’re in a lower tax bracket. In”
― Tori Dunlap, Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love—A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy