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I just did an overlay of gold and the DOW since 2008. Dow is up 170% and gold is only up 92%. These are facts your boyfriend can't dispute. Throw in emloyer match and it would be 340%. Its stupidity to pass up 401k match and stocks for gold.
It isn't her significant other tho.....it's just her Bf.
Let’s be real for a second. A boyfriend or girlfriend you live with probably meets nearly everyone’s definition of significant other
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sig·nif·i·cant oth·er
noun
a person with whom someone has an established romantic or sexual relationship.
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AND.....if you have lots of $ you need to rely on yourself or experts & not ask Uncle Harry or Aunt Shannon at the backyard BBQ or strangers online what to do with it....... If it was both of their money.....it's a little different.....edit: but even she was married to him.......that doesn't make her....or a bunch of strangers online...financial experts....
You don’t need to be an expert to have an opinion. Your significant other should be able to ask your opinion on anything without you losing respect for them. To state otherwise is just further pushing this exchange into absurdity so I won’t respond to any more replys on it because it wasteful
If he's that smart & you have to ask a forum for financial advice tho.......why does he want you on board? That seems super silly IMO....if you don't agree or have questions......just ask him. It's Ok to have separate investments & separate accounts.........you are only living together.
As women I would encourage you to be more independent. I'm engaged to a man with a lot of money because of what he does & his past investments.......BUT I don't get involved & I know he doesn't want my opinion about that.... I wouldn't respect a man that had to ask me or strangers about his money or investments anyways..............
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Originally Posted by TashaPosh
It's N O T nonsense to have our own minds & our own investments & money.......instead of helping a man that can't seem to do it himself IMO.
edit: you'd be surprised at how many women get too dependent on men for money.....& then they get stuck in a relationship & can't get out AND if he's asking her & she asks strangers........then he doesn't know what he's doing so don't expect him to have $ for long. It's not to do with his ss #.....laughs.
TashaPosh,
Perhaps I did a bad job of explaining. He wasn't asking me for advice...his mind is pretty made up. He was encouraging me to invest like him and to one day help him (like doing the rentals if we marry one day while he keeps his day job).
I think he is making some mistakes like missing out on the employer match lately by stopping the contributions to his 401K, but he is doing very well. 3 houses all paid off with no mortgage at the age of 30 isn't exactly "a man who is struggling to do things himself" as you say. If you throw in his 401K, coins, and cash in the bank he is saving up for the next down payment on a rental home that is over another 250K combined about...not bragging, I am sure many on here have more...just kind of saying....my BF isn't exactly failing. He isn't Warren Buffett, but he is doing very well IMHO.
I do appreciate your advice on being strong and independent.
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Originally Posted by Yippeekayay
If he starts referring to them as "My precious," time to call some psychiatric help.
Ummm, he is pretty close to it.
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Originally Posted by Berteau
I just did an overlay of gold and the DOW since 2008. Dow is up 170% and gold is only up 92%. These are facts your boyfriend can't dispute. Throw in emloyer match and it would be 340%. Its stupidity to pass up 401k match and stocks for gold.
I agree and will encourage him more on this point.
TashaPosh,
Perhaps I did a bad job of explaining. He wasn't asking me for advice...his mind is pretty made up. He was encouraging me to invest like him and to one day help him (like doing the rentals if we marry one day while he keeps his day job).
I think he is making some mistakes like missing out on the employer match lately by stopping the contributions to his 401K, but he is doing very well. 3 houses all paid off with no mortgage at the age of 30 isn't exactly "a man who is struggling to do things himself" as you say. If you throw in his 401K, coins, and cash in the bank he is saving up for the next down payment on a rental home that is over another 250K combined about...not bragging, I am sure many on here have more...just kind of saying....my BF isn't exactly failing. He isn't Warren Buffett, but he is doing very well IMHO.
I do appreciate your advice on being strong and independent.
Ummm, he is pretty close to it.
I agree and will encourage him more on this point.
If the 5% contribution on his part doesn’t compromise his other obligations it’s simply foolish for him to not do it and get an immediate 100% return. This is even more so if his employer matching is vested immediately because he could withdraw all the dollars, paying taxes plus penalty and still be ahead. If this isn’t something you can convince him of it should be a warning sign
If the 5% contribution on his part doesn’t compromise his other obligations it’s simply foolish for him to not do it and get an immediate 100% return. This is even more so if his employer matching is vested immediately because he could withdraw all the dollars, paying taxes plus penalty and still be ahead. If this isn’t something you can convince him of it should be a warning sign
Lowexpections and I agree on almost nothing.
Except for this point. He should continue to make the contributions, but again, I will repeat that he might want to go a lot more conservative if he thinks the markets are going to decline significantly, soon.
I just did an overlay of gold and the DOW since 2008. Dow is up 170% and gold is only up 92%. These are facts your boyfriend can't dispute. Throw in emloyer match and it would be 340%. Its stupidity to pass up 401k match and stocks for gold.
Meh... I just did a 5 year analysis that shows the Dow up 33% and gold up 40% over 5 years.... That's a fact you can't dispute.
The OP should leave the guy alone. He's wealthy and will become wealthier.
He may feel the same way I did about 401k - it's only a matter of time before the IRS casts greedy eyes on your money. Already they are requiring people of a certain age to start taking money out, and they have passed restrictions regarding inheritance. It'll get worse.
If the 5% contribution on his part doesn’t compromise his other obligations it’s simply foolish for him to not do it and get an immediate 100% return. This is even more so if his employer matching is vested immediately because he could withdraw all the dollars, paying taxes plus penalty and still be ahead. If this isn’t something you can convince him of it should be a warning sign
Thank you, I think I've convinced him to go from 0% up to something if not 5% to get at least some of the match even if he wants to primarily focus on getting another rental home.
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If it was both of their money.....it's a little different.....edit: but even she was married to him.......that doesn't make her....or a bunch of strangers online...financial experts....
......it's her Bf's money.
