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2021 Goals and Things to Do
Please let this year be good
So, I’m finally doing it. I’m writing this post about what I plan to do in 2021. While I’ve written these things down privately, it’s time to make them public. Perhaps these things that I am about to write down will help others. Perhaps someone will read this and provide some feedback. Here it goes:
1) Get my wife invested
Currently, my wife has a couple of hundred dollars invested in crypto. I previously convinced her to open up a Betterment account, but she pulled the money out when she saw her balance drop and moved it back into her savings account. She now has a “high” yield savings account, but given that the inflation rate ending 2020 was 1.4%, and the bank APY has dropped down to .10%, she is losing money every second she keeps money in her bank account.
So, the first step will be to convince her to open up a Roth IRA. There are several benefits to a Roth IRA:
- She can still pull out her contributions if she feels “panicked” but her gains are solidified.
- Having only partial liquidity will teach her to be patient and not panic sell.
Best of both worlds. I personally love Roth IRAs since they make for a better emergency fund than “high yield” savings accounts. Any personal…
