How to start index investing in your 401K + using extra money




Oh My Dollar! show

Summary: <p>Kelly realized that she is doing “real investing” (picking individual stocks) and want to move into index funds instead (which is still investing!) But she’s not sure exactly how to do it. So we walk through how to build an index fund portfolio.</p> <p>Christina asks what she should do with extra money after she pays off her car note when she’s already finished her emergency fund and is contributing to a pension and 403B.</p> <h3>Grab the Get Your Money Together cat-filled workbook at <a href="http://www.ohmydollar.com/">ohmydollar.com/book/</a> </h3><p>Resources mentioned in the show </p><ul> <li> <a href="http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/">Mr. Money Mustache</a> – blog with a silly name but excellent resources on early retirement</li> <li> <a href="https://www.amazon.com/dp/B0052MD8VO/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1">Your Money or Your Life</a> – Classic Financial Independence Book</li> </ul> <h3>Other Episodes You might Find Relevant</h3> <ul> <li> <a href="https://www.ohmydollar.com/podcast/everything-need-retirement-planning-30s/">Everything you need to save for retirement in 30 minutes (if you’re under 40):</a> Our most comprehensive episode on figuring out how to start saving for retirement</li> <li> <a href="https://www.ohmydollar.com/podcast/government-will-pay-save-retirement/">The Government Will Pay You to Save For Retirement:</a> If you have a below-median income, you may qualify for the Saver’s Credit for starting to save for retirement, which is FREE MONEY!</li> <li> <a href="https://www.ohmydollar.com/podcast/quit-job/">How to quit your job and be freelance: </a> I answer what’s a Roth 401K and who should use it?</li> <li> <a href="https://www.ohmydollar.com/podcast/sticking-budget-despite-peer-pressure-save-money/">Sticking to your budget despite peer pressure + the secret to saving money:</a>  Why you might want both an IRA and a 401K.</li> </ul>