News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
It's good to have 3 months to a year of expenses saved in an HYSA to start with as a rainy day fund you can use in an emergency (i.e. lose your job/house, etc.). I think there are some studies that a huge portion of the population doesn't have savings to cover even a surprise $1000 expense.
That's more important than putting money in the stock market to start with but after you have that you can put your savings into an IRA or something preferably in a diversified fund. (Vanguard has a few tgat are specifically targeted for retirement at particular years).
At this point I think I have more like 18 months to 2 years in my HYSA right now. I aggressively paid down my debts and as of January this year my mortgage is the only one left, but I didn’t start having enough to seriously invest until the last few years (maybe 2020 or 2021) and I’ve been aggressively saving since while I figure out where to put the money longer term.
On the bright side, I’m making so much more than I spend that it’s likely I’ll have my 30 year mortgage (27 years remaining) paid off inside of 5 years while still being able to continue saving, and paying the mortgage off will accelerate my retirement options.
Congrats! I would say don't sleep on the stock market, especially now since a dip/cliff is really the best time to invest to get a good return, but you shouldn't touch it for at least a decade. Generally over a ten year period the market will give you a rate of return better than a HYSA but may be better or worse across short periods of time.
If there is some kind of economic collapse that happens, it's going to affect a lot more than the stock market. Even regular bank accounts will be affected and if your bank doesn't shut down your US currency may be worth nothing. Especially if they get rid of the FDIC like Trump and Musk want.