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The Plan should be to start investing something every month that you can.
Stop spending on frivolous things, invest the difference.
EX) Bring in leftovers from Home to work 4 days a week vs eating out.
= $7 a day eating cheap vs $2 dollars a day for leftovers = 4 days x $5 = $20 a week = $80 a month = $960 a year invested.
total after 20 years @ 8% interest = $47,446.00.
(not to mention the usually healthier food too)
Don't buy things brand new, find QUALITY used items
heh, my neighbor in NC has a 1996 Toyota wagon with 32,000 miles on it.. That is his high mileage car.
Try to find cars like that from older folks that TOOK care of it.
If only people did that. At work, people buy stuff at vending machines like crazy everyday. I tell them everything to get things in bulk, its much cheaper. Some things never change.
Why not actually own a balanced portfolio? There are such things as "balanced" funds that will do this for you. They lost a lot less money in the market downturn than pure stock funds because most balanced funds invest anywhere from 30% to 60% of their assets in bonds and cash.
Some of the best balanced funds would be:
Oakmark Equity and Income
T. Rowe Price Capital Appreciation
Vanguard Wellington
Vanguard Wellesley Income (this one is the most conservative because it is usually 60% bonds. It held up best in the bear market but it is never going to boom in a great stock market).
I am 48, some savings, most of which I lost in stock because I did not have a balanced portfolio.
I am not working, but I don't want to touch the little bit I have.
Any input as to what balance I should have in
stocks,
bonds,
bank accounts.
Also, any input on how to manage what I have with books and/or websites.
Thanks
I would stay out of the stock market unless you are will to hold log term : Look up mad money on cnbc. This guy set the record streight for investor nightly. Cramer is the ex-wall street broker that put it on the table for small investor to under stand what is hot and what is not. Good luck
I would stay out of the stock market unless you are will to hold log term : Look up mad money on cnbc. This guy set the record streight for investor nightly. Cramer is the ex-wall street broker that put it on the table for small investor to under stand what is hot and what is not. Good luck
At age 48. I would still be investing in some Mutual Funds stocks that are growth-income and well diversified.
I've been in the stock market for over 20 years and have invested heavily in mutual funds and can honestly say that I have lost more than most. Mutual fund (buy and hold) is absolutely dead and a waste of time and money.
The sooner you learn to do it yourself, the sooner you will move to profitability and stop feeding the large institutions and professional traders.
Read these, they helped me:
[mod edit 10 post to link off site]
[quote=StockTrader6080;12030984]I've been in the stock market for over 20 years and have invested heavily in mutual funds and can honestly say that I have lost more than most. Mutual fund (buy and hold) is absolutely dead and a waste of time and money.
The sooner you learn to do it yourself, the sooner you will move to profitability and stop feeding the large institutions and professional traders.
Read these, they helped me:
[mod edit 10 post to link off site]
I agree. I moved out of mutual funds five years ago and have not looked back. Many financial writers have pointed out the problems with actively-managed mutual funds, but even index funds have problems. When the herd runs for the door, fund managers must sell into a falling market. When the sentiment turns around, and the herd throws new money at the managers, they must buy into a rising market.
If you buy and sell shares yourself, you can do the opposite of the herd. It takes some psychological toughness, however, to do the opposite, to be different.
[quote=StockTrader6080;12030984]I've been in the stock market for over 20 years and have invested heavily in mutual funds and can honestly say that I have lost more than most. Mutual fund (buy and hold) is absolutely dead and a waste of time and money.
The sooner you learn to do it yourself, the sooner you will move to profitability and stop feeding the large institutions and professional traders.
Read these, they helped me:
This also depends on what kind of Funds you have invested in how you managed your funds using Asset Allocation.
If MF's were were a waste then private and gov't sectors would not offer 401K's.
So what is your strategy for investments now and where do you park your money for long-term?
I agree. I moved out of mutual funds five years ago and have not looked back. Many financial writers have pointed out the problems with actively-managed mutual funds, but even index funds have problems. When the herd runs for the door, fund managers must sell into a falling market. When the sentiment turns around, and the herd throws new money at the managers, they must buy into a rising market.
If you buy and sell shares yourself, you can do the opposite of the herd. It takes some psychological toughness, however, to do the opposite, to be different.
Its a lot better then putting your money in a lousy bank account.
Most people sell the shares in the downturn. This is a great opportunity to buy because you are buying more shares at a cheaper price and when the market goes, it goes up faster then someone who bought when the shares were already high.
This also depends on what kind of Funds you have invested in how you managed your funds using Asset Allocation.
If MF's were were a waste then private and gov't sectors would not offer 401K's.
So what is your strategy for investments now and where do you park your money for long-term?
Texas, I'm not saying that the stock market is a bad place to be. On the contrary, I'm fully invested in the stock market. I'm just a staunch supporter of robotic trading (removes all emotion and follows sound rules ALL THE TIME), and doing it yourself. I'm fully against investing in mutual funds and dumping your money into some fund manager's hands to invest.
I've been in the stock market for over 20 years and have invested heavily in mutual funds and can honestly say that I have lost more than most. Mutual fund (buy and hold) is absolutely dead and a waste of time and money.
The sooner you learn to do it yourself, the sooner you will move to profitability and stop feeding the large institutions and professional traders.
Read these, they helped me:
[mod edit 10 post to link off site]
I sure would like to see what you recommended to read. Why was it deleted? The moderator did not cut other links...why these? Anyway, if they are not allowing you to post, could you please mail your recommendations to me? I would surely appreciate it. Thank you!
I totally agree with you...forget mutual funds!
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