I seem to see you posting alot with topics having to do with money. Is that your main concern in life?
I seem to see you posting alot with topics having to do with money. Is that your main concern in life?
concerned human being wrote:
I seem to see you posting alot with topics having to do with money. Is that your main concern in life?
yes, it does seem that Flagpole is preoccupied with money.
FEDER wrote:
28%?? What were you investing in?
That's what I was thinking. My 401k is up 10.4% since the beginning of the year, and that's damn good just5 months in. 28% is crazy. I guess if the guy had lots of international stocks, especially Chinese then he could be up that much.
i noticed it too wrote:
concerned human being wrote:I seem to see you posting alot with topics having to do with money. Is that your main concern in life?
yes, it does seem that Flagpole is preoccupied with money.
No. I'm not preoccupied with money. I'm passionate about investing though and it kills me when I see people make huge money mistakes and then either have to work until they're 70+ or simply retire in poverty or work until the day they die.
Retirement is a relatively new concept. Basically it started in 1935 when Social Security was intended as a way for older workers to leave the workforce to open up slots for younger workers to help combat the Great Depression. Helps big business too as they can pay those younger workers less.
Check yourselves though -- in your view when someone like me talks about money, do you think I am obsessed or prudent? Do you also invest 15% of your salary or more each year but just don't talk about it, or are you like 75% of all Americans and don't invest anything and have $10,000+ in credit card debt plus a ridiculous car loan and student loan debt and all kinds of other debt with seemingly no way to get out?
I see too many people make themselves sick over money, and it's all because they just don't take the time to figure out what they can afford and what they can't. Money won't control me. I make it dance for me brother. You should ALL do that.
Here's hoping you the best.
We don't have a single fund in our 401K that has gone up over 20% this year.
FEDER wrote:
We don't have a single fund in our 401K that has gone up over 20% this year.
Well, you're doing well then brother. Awesome! Just for fun, I checked my Vanguard IRA just now, and it is up 21% since the beginning of the year. My 401k hasn't done as well as my IRA. I have very different funds in each by design. Probably next year the 401k will do better than the IRA. Who knows. Either way, I can't complain. 8% on average is all I need, so every year that ends up better than that is more slack I can have later on.
What would you do if the economy reverted to the 80's and you could achieve double digit returns on CD's? I would switch most of my holdings to CD's.
There are no absolutes.
To flagpole et al,
If you guys checked out today's GDP numbers you would notice that the Economy is not in as good as shape as you thought. The economy grew at 0.6 pace this quarter, a lot less than the 1.3 forecasted by the goverment.
The economy basically stalled this quarter. But analysts turn this info into good info saying "well we might have a rate cut!" Yet we can't have a rate cut becuase of inflation. So when strong numbers come out instead of saying "this might mean a rate hike" they say "yea economy at full steam". Analysts have a two headed coin, same as in 2000 with the techies. I would watch out.
Yeah, I don't try chasing the mega returns either. In my 401K, I got burned badly by the collapse of the tech sector in the late 90's. Now,I try to keep things balanced and minimize the down years. I am more than happy with an 8-10% annual return.
Just for kicks I look at those retirement calculators. Since I have been contributing the maximum since I was 21 (I am 33 now) most of them say that I could stop contributing now and still have enough for retirement....but why stop now, it will just give me more options later on in life.
investing 101 wrote:
To flagpole et al,
If you guys checked out today's GDP numbers you would notice that the Economy is not in as good as shape as you thought. The economy grew at 0.6 pace this quarter, a lot less than the 1.3 forecasted by the goverment.
The economy basically stalled this quarter. But analysts turn this info into good info saying "well we might have a rate cut!" Yet we can't have a rate cut becuase of inflation. So when strong numbers come out instead of saying "this might mean a rate hike" they say "yea economy at full steam". Analysts have a two headed coin, same as in 2000 with the techies. I would watch out.
For someone who chose investing 101 as a handle, you don't demonstrate much knowledge about investing or the economy. GDP is a single measure of the economy, and it is not a particularly good one.
Manassas Mauler wrote:
What would you do if the economy reverted to the 80's and you could achieve double digit returns on CD's? I would switch most of my holdings to CD's.
There are no absolutes.
And mutual funds BOOMED in the 80s. I'm not a speculative investor. I don't move stuff around to go with trends. Buddy of mine who is younger than me thought he'd be smart and moved 80% of his stuff to bonds back in February because he thought the market was going to go way down. Bad move. I've made a killing since then and he's seen just modest gains. Can't over think stuff. Early and often, maybe make some minor chances once a year, but other than that, leave it all alone.
Econ 101 wrote:
investing 101 wrote:To flagpole et al,
If you guys checked out today's GDP numbers you would notice that the Economy is not in as good as shape as you thought. The economy grew at 0.6 pace this quarter, a lot less than the 1.3 forecasted by the goverment.
The economy basically stalled this quarter. But analysts turn this info into good info saying "well we might have a rate cut!" Yet we can't have a rate cut becuase of inflation. So when strong numbers come out instead of saying "this might mean a rate hike" they say "yea economy at full steam". Analysts have a two headed coin, same as in 2000 with the techies. I would watch out.
For someone who chose investing 101 as a handle, you don't demonstrate much knowledge about investing or the economy. GDP is a single measure of the economy, and it is not a particularly good one.
Well why don't you look at corporate earnings? They only beat estimates because they were revised down.
What about housing?
What about lower consumer confidence?
Any of those good indicators? Why don't you tell me what you are using as indicators.
investing 101 wrote:
To flagpole et al,
If you guys checked out today's GDP numbers you would notice that the Economy is not in as good as shape as you thought. The economy grew at 0.6 pace this quarter, a lot less than the 1.3 forecasted by the goverment.
The economy basically stalled this quarter. But analysts turn this info into good info saying "well we might have a rate cut!" Yet we can't have a rate cut becuase of inflation. So when strong numbers come out instead of saying "this might mean a rate hike" they say "yea economy at full steam". Analysts have a two headed coin, same as in 2000 with the techies. I would watch out.
I had a similar thought this morning when I read the financial news. Doesn't bother me though as I have a decent amount already invested and lots earmarked for investing. Could have very mediocre returns the next 18 years and I'll be fine.
One of the reason too though for things going up today (so far) is that yesterday's news from The Fed was deemed positive, and home builders bought more material than they thought they would. Slowly but surely that home sector is going to come back, and a srong second quarter has been predicted. It's all a rollercoaster ride.
Mrr82 wrote: Im at 28% for the year on my 401k. My boss switched his to a fixed accout (3% for the year) right after the early year drop...so basically hes at -5% for the year lol...I dont let him hear the end of it.
That's great. We're up 23.5% from last year at this time.
How old is your boss? If he's nearing retirement, locking in his gains in a fixed account makes some sense.
Zat0pek wrote:
Mrr82 wrote: Im at 28% for the year on my 401k. My boss switched his to a fixed accout (3% for the year) right after the early year drop...so basically hes at -5% for the year lol...I dont let him hear the end of it.That's great. We're up 23.5% from last year at this time.
How old is your boss? If he's nearing retirement, locking in his gains in a fixed account makes some sense.
Oh, if we're talking a year ago today then I'm well over 20% for everything. My IRA is actually up over 30% from a year ago today. I was talking since the beginning of this calendar year -- as in Jan. 1. Since then my IRA is up 21% and my 401k 10.4%. It's been a very good 2007 so far.
Flagpole and others,
if you had $10k sitting around that you wanted to park for the long haul, where would be a good place to put it in today's market?
Flagpole Willy wrote:
Zat0pek wrote:That's great. We're up 23.5% from last year at this time.
How old is your boss? If he's nearing retirement, locking in his gains in a fixed account makes some sense.
Oh, if we're talking a year ago today then I'm well over 20% for everything. My IRA is actually up over 30% from a year ago today. I was talking since the beginning of this calendar year -- as in Jan. 1. Since then my IRA is up 21% and my 401k 10.4%. It's been a very good 2007 so far.
Look at me! Look at me! I'm soooooooo smart! I live a dull suburban life and don't spend a dime so I can retire one day a millionaire! So my last five or ten years can make up for my dull, boring life until then. Look at me! Money! Money! Money!
Flagpole Willy wrote:
Zat0pek wrote:That's great. We're up 23.5% from last year at this time.
How old is your boss? If he's nearing retirement, locking in his gains in a fixed account makes some sense.
Oh, if we're talking a year ago today then I'm well over 20% for everything. My IRA is actually up over 30% from a year ago today. I was talking since the beginning of this calendar year -- as in Jan. 1. Since then my IRA is up 21% and my 401k 10.4%. It's been a very good 2007 so far.
Look at me! Look at me! I'm soooooooo smart! I live a dull suburban life and don't spend a dime so I can retire one day a millionaire! So my last five or ten years can make up for my dull, boring life until then. Look at me! Money! Money! Money!
[quote]FEDER wrote:
Yeah, I don't try chasing the mega returns either. In my 401K,
I got burned badly by the collapse of the tech sector in the late 90's.
No duh! Everybody did...and if they say they didn't, they're lying.
ertert wrote:
Flagpole Willy wrote:Oh, if we're talking a year ago today then I'm well over 20% for everything. My IRA is actually up over 30% from a year ago today. I was talking since the beginning of this calendar year -- as in Jan. 1. Since then my IRA is up 21% and my 401k 10.4%. It's been a very good 2007 so far.
Look at me! Look at me! I'm soooooooo smart! I live a dull suburban life and don't spend a dime so I can retire one day a millionaire! So my last five or ten years can make up for my dull, boring life until then. Look at me! Money! Money! Money!
1) Actually NO, I don't save every dime. When my wife and I were both working, we invested half of our income -- did that for 7 years. I now invest a little more than 20% of my income as she's a stay at home mom.
2) Regarding having 5 to 10 years after retirement, the stats say otherwise brother. First of all, I will be retired before I'm 60...potentially as early as age 55. Odds are VERY good I'll have at least 20 years if not way more than that after retirement. Being able to retire early means that not only will I be working less than most, but I'll still be young enough when I retire to go travel the world. Looking forward to it brother.
3) As I have no debt other than my mortgage, I actually have more disposable income than most who make what I do. I don't waste money on interest payments for credit cards or store cards or loans or anything else. So, my frugal ways have not only set myself up for a more enjoyable retirement, but they have also created more spendable cash for me NOW. Instead of mocking me, you should listen to what I say, especially if you're still young enough for any investing to have time to build wealth.
4) I will not retire a millionaire. I will retire a multi-millionaire. Depending on market conditions, anywhere from $4-5 million or even more. Just depends. Also depends on when I want to retire. If I have $3 million by age 55 (which is very possible), as long as inflation hasn't really gone up, then I'm through working.
5) Nothing dull to me about suburban life brother. Nice neighborhood. Nice neighbors. No one dealig drugs on the street outside. Take some nice vacations every summer and spend time at the pool with the family. Play music to amazed (amazed at how good we are) crowds on the weekends. Sounds pretty great to me.