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Old 08-07-2010, 12:42 PM
 
Location: State of Superior
8,733 posts, read 15,896,614 times
Reputation: 2869

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Quote:
Originally Posted by mathjak107 View Post
im always curious how things went bad and now i can see.. thats called speculating what you did, not investing.....
The only way you can make some real money. With interest rates what they are , little to be made that way..... Sure , I was betting on the big one, and it came in several times , but , like all gamblers , you keep going. Its just the way it is, I am not all that different....take a look at wall street. The problem I had , was I used my own money , now I know thats not the way you do it, foolish me.
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Old 08-07-2010, 12:51 PM
 
106,062 posts, read 108,035,793 times
Reputation: 79628
i would have just gone to vegas and had the time of my life...

what you did was sooooo wrong as you know...

when you take the markets returns each year good or bad and accept those returns thats good, thats investing.. you take the good with the bad years

but when you think your smarter then the markets, and your going to outsmart them because you know better and you put money on this one particular outcome thats speculating ..

you can beat the markets if your lucky or shoot yourself in the foot if your wrong... odds are if you do it long enough you will loose.
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Old 08-07-2010, 12:58 PM
 
Location: State of Superior
8,733 posts, read 15,896,614 times
Reputation: 2869
But , it WAS a lot of fun !.... Going to Vegas is a fools game, you can loose it all in one night, and wind up with only a hangover the next morning.... What fun is that ?
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Old 08-07-2010, 01:03 PM
 
106,062 posts, read 108,035,793 times
Reputation: 79628
i never said id gamble it away....
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Old 08-07-2010, 01:37 PM
 
2,318 posts, read 1,889,313 times
Reputation: 540
We waited too long being seniors to really save but if we had any money to invest it would not be in anythign other than pawn or coin shop coins .

The gov will confiscate any gold or preasious metals like they did before . Stocks , IRAs and 401s are not safe ,imo.

My friends have all taken a beating on their savings, one lost 70,000 in one day at GM .

But the best investment is a place to live and survive in coming meltdown . Chickens, garden and available wild food like deer . After you have prepared for the worse, then plan for the best .

Then invest however you want .
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Old 08-07-2010, 01:42 PM
 
3,504 posts, read 3,910,670 times
Reputation: 1357
im 25 and was thinking i was in bad shape with nothing saved yet, 32 is still young, got over 30 years still to save.

do what im doing if you dont get 401, open a roth ira, put 3,000 in a vanguard account and put the max in yearly which is like 5000 i believe.

when you do get a 401k, do the company match which is like 3-6 percent and leave it at that imo.

what you want to do is focus on the ira
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Old 08-07-2010, 01:44 PM
 
106,062 posts, read 108,035,793 times
Reputation: 79628
Quote:
Originally Posted by Pappy&Me View Post
We waited too long being seniors to really save but if we had any money to invest it would not be in anythign other than pawn or coin shop coins .

The gov will confiscate any gold or preasious metals like they did before . Stocks , IRAs and 401s are not safe ,imo.

My friends have all taken a beating on their savings, one lost 70,000 in one day at GM .

But the best investment is a place to live and survive in coming meltdown . Chickens, garden and available wild food like deer . After you have prepared for the worse, then plan for the best .

Then invest however you want .
im just buying bullets, with my guns and those bullets ill just get everything elese i need.
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Old 08-07-2010, 01:48 PM
 
Location: Planet Eaarth
8,954 posts, read 20,627,992 times
Reputation: 7193
Chuckle!

So many people buy into the conventional wisdom of money, money, money, money. When the basic elements of life need to be taken care of first to prepare for older age. If you don't have food, shelter, medical care & transportation worked out and provided for by then all the money in the world won't make any difference.
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Old 08-07-2010, 01:56 PM
 
2,318 posts, read 1,889,313 times
Reputation: 540
Quote:
Originally Posted by mathjak107 View Post
im just buying bullets, with my guns and those bullets ill just get everything elese i need.

LOL, but even the bullets will eventually run out . I don't know about trying to fight the powers that be, it will be a losing battle ,imo. But to make every day as good as possible would be doable .

I look at it like I don't want to spend my last days killing people unless we had no choice but kill or be killed . far as fighting the military thats impossible so we wouldn't even try . The techology they have will be used 'unlike it is in war zones to protect our troops ;but thats another subject '.
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Old 08-07-2010, 02:00 PM
 
2,318 posts, read 1,889,313 times
Reputation: 540
Quote:
Originally Posted by tropolis View Post
im 25 and was thinking i was in bad shape with nothing saved yet, 32 is still young, got over 30 years still to save.

do what im doing if you dont get 401, open a roth ira, put 3,000 in a vanguard account and put the max in yearly which is like 5000 i believe.

when you do get a 401k, do the company match which is like 3-6 percent and leave it at that imo.

what you want to do is focus on the ira

With inflation and if the dollar tanks, most of this won't be worth anything .

A chicken in the hand is wroth more than a note in the bank ,imo. Not saying don't save as you want, but first prepare then if something happens to the money you can still survive.
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