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Thread: Investing thread

  1. #1

    Investing thread

    Anyone invest? Any tips? Have had a good run with some oil funds lately 19% return last year but I'm not sure how much longer the good times will last. Right now I'm investing in a 401k plan and opened up a roth ira. My goal is to retire in my 50's and not have to rely on Social Security because it may not exist. This is the polar opposite of the gambling thread.

  2. #2
    The Gay Blade Zip Goshboots's Avatar
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    I've gotta think that oil and those types of stocks are going to do nothing but make money until the Earth has been drained of all of it.
    I can't see any reason to take money out of that market.
    Genius on the Roth, as you know, it will not be taxed when you tap into it, either for retirement or if you just need the funds for something else.
    401 is great, but don;t put anymore than your company will match.
    As for general banking, my rule is most of the money is in money market funds that have checkwriting priviledges. You are limited in the amount of checks you can write, so keep some in a bank checking or savings account. Most money market funds are paying over 4% right now.
    I know you probably have talked to financial advisors, but DO stock that Roth IRA by putting the max into it at the start of every year (if you can). Monthly donations will add up, but not as fast as if you can put the max in at the beginning of every year.
    I don't know how old you are, but if you are young enough, haven't married or had kids, NOW's the TIME. When those other things come along, the investing can go out the window.
    Form a plan and STICK to it, and you can retire when you want.
    Here's something: With compund interest, if you put the max into a retirement vehicle that can get 8-10%, and you just put the maxe every year from age 19 until age 27, and NEVER PUT ANOTHER CENT INTO IT after that, you'll be a millionaire for sure. However, if you START at 27, and put the max into it every year after that, you will NEVER catch up to that original plan. Strange but true.
    Here's one strategy I eschew: I don't save for my kids college. If they want to go, they'll listen to me and work their asses off for scholarships or grants. Plus, they can go to the community colleges for two years, get great grades on the cheap, then go to a university. I mean, what if I spend 18 years saving money for my kid, then the asshole knocks up his girlfriend and goes to work for 7-11 for the rest of his life? Then, I'll get CLOBBERED if he doesn't use that money (I have daughters, but my same rule applies: you WANT it, you GO for it). Too many people think they "Owe" their kids a college fund or some massive wedding (don;t get me started on THAT one. I AIN'T paying for no goddamm weddings. I'll buy them a ticket to Vegas). Then, when the time comes, the kid may not even GO to college.
    Winning breeds confidence. Losing breeds reality.

  3. #3
    I invested considerably in cigarettes, beer, and women last year. My return on investment was considerable. I have a persistent cough, a big gut, and a nasty rash.

  4. #4
    Stick to the animals.
    STEW BEEF!

  5. #5
    If you don't pull out soon enough, you might . . . .

  6. #6
    The Gay Blade Zip Goshboots's Avatar
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    Mike:
    You've got me thinking now, which is hard to do.
    There is one piece of conventional wisdom I buy into: Buy a house (if you haven't already). Renting is WASTE, unless you're a bachelor and can really live cheaply (and I mean CHEAPLY) to save for a downpayment on a house.
    Here, though, I go a separate way from most: My wife and I paid off our house early. yes, we sacrifice the tax deduction, but now I just collect fewer cans, so our income went down.
    Most people will tell you not to pay the house off, but the freedom from the debt monster (we buy older, used cars, don't use credit cards for anything but trips) is so much more enjoyable and gives you so much more quality of life.
    Think of it this way: Every dollar you blow now will probably be $10 out of your retirement down the road.
    Winning breeds confidence. Losing breeds reality.

  7. #7
    Glenn's Avatar
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    The thought of Giffman with 500 alpacas is a bit scary.

    Would that be considered an orgy?
    Find a new slant.

  8. #8
    LMAO.
    Phil Wenneck: The man purse. You actually gonna wear that or are you just fuckin' with me?
    Alan Garner: It's where I keep all my things. Get a lot of compliments on this. Plus it's not a purse, it's called a satchel. Indiana Jones wears one.

  9. #9
    The Gay Blade Zip Goshboots's Avatar
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    Geez guys, Mike Myers wants to retire by the age of 50 and you're making jokes.
    Winning breeds confidence. Losing breeds reality.

  10. #10
    Quote Originally Posted by Glenn
    The thought of Giffman with 500 alpacas is a bit scary.

    Would that be considered an orgy?

    All at once? Yes.

    But not if you work your way through them one at a time . . . .

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