Financial Advice
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- cbass990
my dad lost all his money in the market. now he's 73 and doesn't have a cent for retirement..i asked him the other day what he's gonna do when he can't work anymore, and he said, "I don't know." :(
he was a day trader, wrote a few books..but lost his ass on a couple deals.
- damn, that's not easy to domonospaced
- I wonder how much he lostpinkfloyd
- pinkfloyd, not sure..but all of it.cbass99
- He just went under at 73 while day trading or back in the day in some deals?monospaced
- about 10 years ago, lost it all.cbass99
- aslip0
Real estate has proven to be pretty solid for me. Ultimately turned into a side biz since last fall. Ultimate goal is to have plenty of income properties to fuel more biz development & passive income. But yes, diversification is key.
- Great if you got in a few years ago, testing the top now in many markets, which should change when for sale products start againformed
- (and the over supply of rentals pushes rent rates down)formed
- diversification isn't key, it's a way to keep slow growth even slowermonospaced
- It's a way to balance the portfolio, if you don't, then you get killed when a market segment goes done. It's key for the long term.formed
- yes, it balances out all your earnings with losses, it's a way to not really go anywheremonospaced
- as soon as I started focusing, I started making real moneymonospaced
- Mono, not everyone has the time or know how to invest in individual stocks. Most people just want to invest and forget2002
- What type of investing are you doing? Aside from you just holding on to AAPL?2002
- AAPL is my smallest holding. Most of my investing is in mutual funds. International growth, Health & sciences, etc. i also have no time for regular investingmonospaced
- my T.Rowe Price health mutual fund has returned 300% in 10 years.monospaced
- Mono - you make no sense, you criticize diversification, but then you own diverse MUTUAL funds!formed
- a mutual fund is somewhat diverse, but extremely focused in a single area, such as health, tech, international growth, etcmonospaced
- 20020
Most of investment advisors or funds are based on Vanguard funds. You can exactly replicate their strategy and positions through same ETFs.
You are paying for advisory fee on top of fund fees.
But best thing you can do is to research index funds - you pay no fees on these funds.
Buy only index funds. It mirrors the stock market and performs the same.
Vanguard
https://investor.vanguard.com/mu…
- notype0
When, if ever do you move a loan or debt to a credit card to pay off?
Loan is 3.75 which isn’t bad, almost ... last nail in there til it’s under my feet.
(Dave Ramsey would flip at this idea but I’m thinking on it)
- In my case, never. I guess I just had to write this out.notype
- I can’t inagine why you would since cc rates are 4-5x higher at least.monospaced
- posting this mono, made me realize this was a silly question. less than 15k to go, can't wait for this cloud to be obliterated.notype
- bklyndroobeki1
- Not doable in NYC (housing requires some payment records and score)bklyndroobeki
- robotinc0
This book: www.amazon.com/Simple-Path-Wealt…...
or read the blog version for free
http://jlcollinsnh.com/stock-ser…- Basically save as much as you can in index funds (VTSAX for the win) until you can live on a 4% withdrawal a year. Then stop workingrobotinc
- https://www.amazon.c…moldero
- nb2
Do NOT hire a professional. They'll take a portion of your money. Also, my nephew got photoshop on his laptop so if you need a logo or maybe some colour pamphlets designed, let me know.
- bklyndroobeki0
Anyone know how a 403(b) different from a 401(k), would it be a detriment to make the switch? I've always invested in 401.
- A 403(b) plan, also known as a tax-sheltered annuity plan, is a retirement plan for certain employees of public schools, employees of certain Code Section 501(c2002
- you have to have certain type of job2002
- ah, it was for a design gig at an educational institution.bklyndroobeki
- formed0
Anyone have a self-directed IRA? Like if you want to invest in companies that aren't public or real estate.
- kona0
Ok in all seriousness. 2 years ago I did a smart thing and combined a couple old 401ks and hired a professional to manage our money. He's actually the lead analyst for MSN money (or was maybe) and has been doing a fantastic job. I've used Ameriprise in the past and they were OK, but I must say, hiring the right pro was a wise decision.
- Kona, does your guy work with a firm or is he an independent money manager?studderine
- He has his own firm. It's pretty big.kona
- vaxorcist0
In Warren Buffett's 2014's letter "To the Shareholders of Berkshire Hathaway Inc.," (page 20) Buffett revealed his instructions in his will to the trustee for his wife's benefit: "Put 10% ... in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers."
- http://longbets.org/…nb
- An interesting read from both sides.nb
- Brk B shares have been fantastic for me, Brk A's if you got moneyformed
- mg330
I read somewhere yesterday that investing in water companies - specifically companies that will be involved in tapping into water reserves around the world - may be a good move. Lots of talk in the right places about potential global water shortages - the middle east especially.
- capn_ron0
i think I'm getting screwed also studderine. I have been paying attention to my accounts and realizing that the charges are by far outnumbering the gains. And I have a healthy amount in there. I am at the point where I am going to call up my guy and tell him i want to stop. I am doing better at work with the matching and feel like i'm wasting money at NW.
- Yeah, I just cashed out. It's a long story but we should chat.studderine
- monNom0
The coca-cola logo was designed in photoshop by the owner's nephew. FACT.
- uh huh... decades before photoshop existed. and coke has no owner as it went public in 1919.sarahfailin
- dibec1
" Buy land, they're not making it anymore. "
Mark Twain
- BK1
Put it all on black.
- capn_ron0
I need to hear how you got screwed. I'm with Northwestern Mutual now and have a few different things going on with them.
- He might have sold you the same thing I have man. I recently "wised up" and took a closer look and the literature I have read says what I'm doing is "bad".studderine
- studderine0
Yeah, I think I got a little bit fucked with some bullshit policies I have with Northwestern Mutual.
- I did it when I was young and didn't truly understand what I was doing :/studderine
- mekk0
- plash0
get a professional; someone whom is willing to consult for free (kind of a get to know meet) and offer up a rate schedule. shit is super complex but trust your gut bro. crooks are crooks and you should know how to spot the amateurs. business relationships are a good thing to know how to spot.