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We aren't all in a position to invest at the exact right time!
We are never in a position to not put awat for the future even if its only a hundred a month. Go get a second job and dedicate those earnings just for that if you need to. I am no stock wizzard but I have a good nest egg saved up. After 40 plus years of working one should have in that time considered their old age. Even a whole life life insurance policy is better than nothing.
The issue at hand is that excuses are easier than doing.
^^Don't break your neck falling off your high horse. A friend of mine who is childess was talking to her brother, who has two kids who at the time were both in college about some great investment she had discovered. When he said he wasn't interested, she asked him what he was investing his money in. His answer: "tuition".
It's not a high horse, it's simply correcting you're patently wrong statement that attributes the abilities of the successful to some metaphysical happenstance as opposed to education and logical thinking capabilities.
That's the problem with the extreme left and this new mentality that's coming through the ranks with the current generations: Nobody ever takes accountability for their successes or their failures. If someone other than themselves are successful, it's because they were lucky or somebody else made it happen. If they fail, it's because somebody else (usually someone successful) caused them to fail. It gets old, listening to that.
"I'm 60 and poor because....well, someone else made it happen!". Tired of it.
We are never in a position to not put awat for the future even if its only a hundred a month. Go get a second job and dedicate those earnings just for that if you need to. I am no stock wizzard but I have a good nest egg saved up. After 40 plus years of working one should have in that time considered their old age. Even a whole life life insurance policy is better than nothing.
The issue at hand is that excuses are easier than doing.
This comment perfectly reflects the widespread but incorrect belief that you need to be able to 'time' the markets in order to use them to your advantage. The way of thinking revealed by the statement could not be more wrong.
You cannot 'time' the stock market, but you do not need to and you shouldn't even try to.
Contribution, Allocation, Diversification, and Re-balancing - that's about all you need to know.
Correct.
The easy thing to do is to make excuses. I wasn't ready, I had kids in school, I had student loans blha blha blah.
I had gun shot wounds and I worked 2 jobs. 1 job just to dump money in a retirement. I do side work just to dump money in my retirement. Now I am sitting good at 49 but still I dump any extra money I can into that retirement.
No its the economy's fault.... What happened 10, 20 and 30 years ago? 1 rule of my Grand father taught us. Never rob your tomorow for today.
I am no investment wizzard. I hire someone to advise me. Sometimes I listen and sometimes i dont.
In 98 I was told dont invest in precious metals. I did anyway. I watch the prices like a hawk. If they start dropping its time to sell.
80% of my retirement is in conservative investments. My P&G stock isnt growing but it pays 3% dividends. at 6000 shares . Thats free money rolling back in.
Its not impossible but it does take dedication and sacrifice.
"For every problem, there exists a simple and elegant solution which is absolutely wrong." -J. Wagoner
To every thing, there is a season. A time to invest, and a time to spend. Katiana
Absolutely. But never is it a time to sit around and wait for a gift from god to save us. If a person doesn't see the need to take care of their own future then they can not be helped.
It's not a high horse, it's simply correcting you're patently wrong statement that attributes the abilities of the successful to some metaphysical happenstance as opposed to education and logical thinking capabilities.
That's the problem with the extreme left and this new mentality that's coming through the ranks with the current generations: Nobody ever takes accountability for their successes or their failures. If someone other than themselves are successful, it's because they were lucky or somebody else made it happen. If they fail, it's because somebody else (usually someone successful) caused them to fail. It gets old, listening to that.
"I'm 60 and poor because....well, someone else made it happen!". Tired of it.
You don't know me from a cake of soap. I am over 60, and we have plenty of money saved up for retirement. However, I don't claim to have the holy grail as you do (And I'm in a very specialized technical field, and you know where I make most of my money? Tech stocks. I almost have to *try* to lose money picking those. Stick with what you know, they always say.), and there was a period of time, with kids in college, that we weren't saving much.
You don't know me from a cake of soap. I am over 60, and we have plenty of money saved up for retirement. However, I don't claim to have the holy grail as you do (And I'm in a very specialized technical field, and you know where I make most of my money? Tech stocks. I almost have to *try* to lose money picking those. Stick with what you know, they always say.), and there was a period of time, with kids in college, that we weren't saving much.
I know enough about you to know that you attribute someone understanding macroeconomics and having the ability to look at earnings statements, non-farm-payroll reports, trend analysis, etc. in order to make sound financial decisions as merely "lucky" as opposed to having a learned and developed skill. That tells me pretty much everything I need to know about you as it pertains to this topic.
And if by holy grail you mean intellect and logical deduction skills, then yes, I guess I am claiming to have the "holy grail" (yet another metaphysical reference by which you claim that I am professing that I have some sort of chalice that assists me in making decisions that I can not make on my own).
I have a real problem with people like that, because I hate the endless whining about how it's not fair how they colored within all the lines and played by the rules and they deserve a pony and someone should get them a pony and they need a pony and WHERE THE HELL IS MY GOD DAMN PONY?! even though they didn't do everything they could do in order to earn said pony - and if I have a pony, then it must be because I somehow cheated or got lucky or a pony just walked into my backyard one day.
Au contrair. Even when I pick a "loser", I'm savvy enough to turn it into a profit (either via covered calls, spreads, averaging down, etc.).
And I'm in a very specialized technical field, and you know where I make most of my money? Tech stocks. I almost have to *try* to lose money picking those. Stick with what you know, they always say.
Again, those who attribute success to mere luck are those who are most looking for an excuse as to why they don't attain success. Luck has very little to do with anything. Luck is just something made up by people to rationalize their own failures. According to you, I was "lucky" when I rode the dot-com boom all the way up, "lucky" that I got out just before it crashed, "lucky" that I rode it back up after that recession, "lucky" that I shorted the market near the top before the last recession, "lucky" that I got in just before I started to rise again, and continue to be "lucky" in how I evaluate the market even in these turbulent times.
I must have a whole bevvy of rabbit's feet I sleep on, according to you. Sorry mate, but luck has nothing to do with it.
Wow! You should be a fund manager. You evidently do much better than the experts.
People often do not have time to wait for the market to return. They just assume their lives savings will be there when needed.
I know enough about you to know that you attribute someone understanding macroeconomics and having the ability to look at earnings statements, non-farm-payroll reports, trend analysis, etc. in order to make sound financial decisions as merely "lucky" as opposed to having a learned and developed skill. That tells me pretty much everything I need to know about you as it pertains to this topic.
And if by holy grail you mean intellect and logical deduction skills, then yes, I guess I am claiming to have the "holy grail" (yet another metaphysical reference by which you claim that I am professing that I have some sort of chalice that assists me in making decisions that I can not make on my own).
I have a real problem with people like that, because I hate the endless whining about how it's not fair how they colored within all the lines and played by the rules and they deserve a pony and someone should get them a pony and they need a pony and WHERE THE HELL IS MY GOD DAMN PONY?! even though they didn't do everything they could do in order to earn said pony - and if I have a pony, then it must be because I somehow cheated or got lucky or a pony just walked into my backyard one day.
Correct.
The easy thing to do is to make excuses. I wasn't ready, I had kids in school, I had student loans blha blha blah.
I had gun shot wounds and I worked 2 jobs. 1 job just to dump money in a retirement. I do side work just to dump money in my retirement. Now I am sitting good at 49 but still I dump any extra money I can into that retirement.
No its the economy's fault.... What happened 10, 20 and 30 years ago? 1 rule of my Grand father taught us. Never rob your tomorow for today.
I am no investment wizzard. I hire someone to advise me. Sometimes I listen and sometimes i dont.
In 98 I was told dont invest in precious metals. I did anyway. I watch the prices like a hawk. If they start dropping its time to sell.
80% of my retirement is in conservative investments. My P&G stock isnt growing but it pays 3% dividends. at 6000 shares . Thats free money rolling back in.
Its not impossible but it does take dedication and sacrifice.
I did very much the same thing, but I still consider myself very lucky. Smarter people than I have lost money in the market. I am no wizard. No, I did not hire anyone to invest for me(except the fund managers). We had people who had people from the big brokerage houses working for them and they got screwed over.
The fact is, smart or not, if you are not playing the market you will never have enough in your old age. Unless you have kids and intend to mooch off of them you should have been investing from, preferably, your youth.
It IS tricky.
You HAVE to do it.
Start studying and training your children (to those who do not).
Last edited by goldengrain; 08-01-2012 at 06:19 PM..
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