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Old 01-21-2014, 04:20 PM
 
Location: East Coast of the United States
17,247 posts, read 19,545,740 times
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I started investing money in equities soon after I got my first full-time job after graduating college. Now that I'm in mid-career, I consider myself to be a fairly active trader, though I don't do daytrading.

For those of you who are retired and have a sizeable net worth, I was wondering if trading has become like your new "post-career." How common is this for retirees?
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Old 01-21-2014, 04:24 PM
 
29,779 posts, read 34,867,277 times
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Quote:
Originally Posted by BigCityDreamer View Post
I started investing money in equities soon after I got my first full-time job after graduating college. Now that I'm in mid-career, I consider myself to be a fairly active trader, though I don't do daytrading.

For those of you who are retired and have a sizeable net worth, I was wondering if trading has become like your new "post-career." How common is this for retirees?
No, now is cruise control time and focused on index funds plus
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Old 01-21-2014, 07:40 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,569 posts, read 39,952,759 times
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I have found that my interests and PROVEN skill set, is not in micro managing my investments and trading daily. (I had done that a few yrs at early retirement (age 49) to my financial discredit, and found I can do as well 'Passively'. I have several friends who retired and became financial managers / analysts (their own portfolios or through CFA certification). Some have done very well and enjoy the change of career / focus. From a 'numbers' perspective... of the ~10 active traders / coworkers I had during my career. 6 'retired' and pursued. ~10 yrs later 2 are still actively trading most of the days (working nearly fulltime / managing portfolios.) They have not been exceptionally successful, or they would not be WORKING 10 yrs after retirement.. We are all pretty straight shooters and they would exclaim that they are HOOKED by passion / engagement or financially trying to go 'over-the-top'.. Seeking $4 - 10 million in managed assets before hanging it up.


For me... a 'maintenance level' of focus is adequate.

Equity investments =
I'm Largely positioned in Index or sector ETFs
I keep my trusts / investments / LLc's in 'Tax Free states' , so that saves TAX planning time

monthly and qtrly I track allocations.

~ 4 hrs / week to review / research new investment options.

~ 2 hrs / week to tweak limit orders, stops, options, and trades

~ 2 hrs / week 'continuing Education'!!!

So...8hrs / week WORKING on investments. The rest of the week is discretionary time
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Old 01-21-2014, 09:21 PM
 
2,563 posts, read 2,791,070 times
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Quote:
Originally Posted by BigCityDreamer View Post
I started investing money in equities soon after I got my first full-time job after graduating college. Now that I'm in mid-career, I consider myself to be a fairly active trader, though I don't do daytrading.

For those of you who are retired and have a sizeable net worth, I was wondering if trading has become like your new "post-career." How common is this for retirees?
I once took a few years off to trade stocks full-time, but I found that I didn't do any better than a good mutual fund would've done. Since then, I've been more of a passive investor. I buy and sell stocks now and then, but usually I can think of better things to do all day.
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Old 01-21-2014, 09:53 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,569 posts, read 39,952,759 times
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BTW... RE: investments ... the BIG time sink for me is managing too many piddly accts. There has GOT to be a better way... (consolidated accts / brokerages / MF companies)

(3) 401Ks (keep for excellent liability protection (not extended to IRA's) + over 20 great (cheap) choices in 401ks
(2) 401K ROTHs
(2) ROTHs (spouse)
(2) Traditional IRA's (for re-characterization / tax transfers / deduct-ability in certain tax yrs)
(3) Rollover IRA's (various allocations & reasons for a few... from IRA held Real Estate and businesses to 72t's)
Vanguard (Personal + retirement accts)
Vanguard Charitable (family foundation)
Fidelity (Personal + business + retirement accts)

then there are the several brokerage accts... BUT... If TD Ameritrade keeps buying out the excellent brokerages I have found... there may be only ONE brokerage left standing!

(Tho I hope it is Scottrade, as they have been pretty good to me for a 'big-house' discount broker, and have some nice new tools for screening / portfolio management AND they finally (June 2013) allow custom allocated DRIPs.)

It was yet a(nother) kiss of death when Ameritrade bought out Thinkorswim. So much for FAST executions. personal trade desk agents, and Red Option Planet training... R.I.P.. So sad. Of course 'In the Day'... I had Waterhouse, Ameritrade, Etrade, Bidwell, Hybridtrading... Mergers and acquisitions... bah-humbug

Maybe you will have to work 'fulltime' just to sort your stuff out. I would much prefer a BUTTON.. allocate highest growth to ROTHs and tailor a risk / investment level in each of the other accts with auto 're-balancing' and 'Bucket' re-distributions quarterly. This is TOO simple. (and would allocate more time to ''retirement'')
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Old 01-22-2014, 02:32 AM
 
71,559 posts, read 71,730,589 times
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30 seconds a week to check for updates from a newsletter i follow.
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Old 01-22-2014, 07:19 AM
 
Location: in the miseries
3,302 posts, read 3,579,794 times
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No, recently I was advised to try a financial guru. However, being extremely cynical I decided to continue on my own course.
Seen enough of my money disappear to the stock market fiascos.
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Old 01-23-2014, 07:52 AM
 
460 posts, read 853,266 times
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I don't do a lot of trading these days, and thus, I don't spend much (any) time researching potential new investments. But I do keep an eye on what is happening with my current investments. And that doesn't take but a minute or two each day (or every couple of days).
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Old 01-23-2014, 08:00 AM
 
Location: Columbia SC
8,965 posts, read 7,741,639 times
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My investments are in major mutual funds and some blue chip stocks thus I rarely do any manipulating/moving as I feel very secure with them. I did have to recently deal with RMD but it came from one Mutual Fund and was put in another.

I have a stock spreadsheet that I update once a month or so but on any given day, I could not tell you the value of my portfolio.
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Old 01-23-2014, 09:28 PM
 
4 posts, read 7,028 times
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I have been trading equity options for a few years as a retirement "occupation", spending a few hours most days. Following TastyTrade.com (from the creator of Think or Swim) has been a great boost to success.

Mutual funds have become largely archaic with the emergence of Exchange Traded Funds (ETF) with real-time trading throughout the day, lower management expenses and tax efficiency. The widespread availability of options on ETFs just adds income opportunities to these advantages.

TDA's acquisition of Think or Swim has not hurt TOS' advantages as the most advanced platform for probability based options trading.
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