GHC19 — Trajectory of Wealth
What is the importance of wealth: opportunity, freedom to do what you want to do; Stability and safety (being able to walk out on a bad work/domestic situation); preparation for retirement, layoff, medical; allows for more risk
How to start investing: start investing when you are young, go with something safe and easy, employer 401k match, tax-free money to put in 401k; IRA, seeding accounts, investing in start-ups; starting budget (where money is coming in and going out), high-interest saving account, utilize people you already know, financial advisors; START EARLY to build muscle, invest in self 10%, find your risk level, INVEST WITH A GOAL, and work with those who can help you get there; Pick a target fund is the easiest ways to start ; know when you need to make a critical decision to walk away
Raise+Promotion: Don’t walk into the meeting empty handed, quantifying your contribution, put data to words, something measurable; don’t just wait for the annual performance review, have on-going conversations (quarterly), make sure your manager understands your goals, what is important to your manager and team; knowing your audience, negotiate non-monetary items (title bump vs money); what makes me promote-able, take a negotiation class.
Tips from personal experience: 50%, 30%, 20% rule, join free investment calls — learn the terms, Portfolia will let you join their LP calls; The worst thing is not seeking knowledge, not doing research is the worst thing you can do; talk to people how much they make, and tell them how much you make, so you know if you worth more; have an emergency fund; being completely candid about what lifestyle you want with your partner.
Other: Betterment is a good robo advisor, Consolidate debt (SoFi), making a sub-culture of sharing salaries; Enricher a resource to invest in women-lead ventures; If you already did all conventional investment, do alt-investing, hedge fund, angel, p2p lending; Pipeline Angels, VC Universities, Enricher are 3 good resources for venture investment.
