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Ask HN: How do you manage personal wealth?

2 points by yoshua921 ↗ HN
I arrived at a point in life where I realized my money was useless sleeping inside my bank account.

- How did you decide on your portfolio?

- Did you seek professional advice?

- I'm just starting to read about personal finance management. There are tons of resources. How would you recommend to navigate through them?

1 comment

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[dead] tsrautde
I've been a techie until I got a job on wall street and now manage capital for institutional clients. Goes without saying, I also manage my own personal account. This is what I tell my friends to do to maximize your returns:

1. Under a threshold of like $500K, manage your own money. Hiring someone doesn't make sense for you or for them yet.

2. Buy ETFs. Stay diversified. Some S&P ETF, Some Nasdaq, Some generic tech ETF, and then dump some in thematic ETFs that follow major trends like AI, Fintech and payments, Cloud computing etc.

3. Buy some strong companies with large moats - Google, Amazon, Apple, types which you know will exist even 25 years in.

4. The rest, perhaps buy some stocks every now and then that fall in your domain. Example, if you're a developer or are software savvy company X might seem interesting sometime.

5. If you're taking serious money, $25K and upwards, avoid generic robo advising apps and go Charles Schwab or Fidelity of one of the full scale shops.

Please be advised, I am not a financial advisor and none of this is to be interpreted as financial advice.