How the hell are we supposed to retire?
- Thread starter Red Mosquito
- Start date
ain't much more to it than that. think about it, the casual investor can not beat the pros. you might become an expert on a couple stocks
and learn to trade around a point, and play the options market (hedging) but it takes so much time that you may as well work someplace
part time or write a book, then invest the earnings. really, 35ish years is what it is going to take, start chipping away.
if there was a magic bullet, everyone would do it. leave the high risk stuff up to the risk investors (penny stocks.)
if you have some fun money, and just like the idea of investing in stocks for products you like, or want to chuck some money at an idea, ok.
but they go to zero relatively quickly too - which is one of the things a market fund won't do.
couple other things - take advantage of everything - pre-tax plans for commuting, health, child care. credit cards with a cash reward.
zero interest purchasing....its all work, paperwork, and some reading, but the hourly rate is totally worth it.
walter
Fourth Party
Agree with what someone else already said, don't use a commission planner, pay for the time and advice you are getting. My wife and I had been using the same guy for almost 10 years, and towards the end we just weren't happy with the lack of communication and help. We finally stopped using him and went with a straight up accounting firm. Accountantdudeman was like "wtf was this guy doing?"
We are on our way to get back on track with investments/taxes/etc., hopefully this year will be financially rewarding for us.
We are on our way to get back on track with investments/taxes/etc., hopefully this year will be financially rewarding for us.
mfennell
Well-Known Member
Once you leave a job, you can roll your 401k into the plan of your choosing. Most of my 401k investments are actually in etrade accounts, where you can be as dumb as you like. I have a (far too complicated) mix of mostly ETFs but you are welcome to day trade yourself to poverty. I had a managed account for years but it really didn't seem worth the 1% fee and the cost of trades in my one "play" investment account was astronomical.
FWIW, the wealthiest person I personally know recommends to most people "2/3 in an S&P ETF (like SPY), 1/3 in a foreign exposure fund". If I known him and followed his advice from the beginning, I'd be far ahead, though I did (finally) beat the S&P by 0.2% last year. 🙂
FWIW, the wealthiest person I personally know recommends to most people "2/3 in an S&P ETF (like SPY), 1/3 in a foreign exposure fund". If I known him and followed his advice from the beginning, I'd be far ahead, though I did (finally) beat the S&P by 0.2% last year. 🙂
i'll throw one more thing out there.
if you have a killer idea, start flushing it out. see if the numbers work. see if it will scale.
then find some people that can help - work up a non-disclosure agreement, work it some more.
if it is going to fly, someone will seed it. very high risk, very high reward.
if you have a killer idea, start flushing it out. see if the numbers work. see if it will scale.
then find some people that can help - work up a non-disclosure agreement, work it some more.
if it is going to fly, someone will seed it. very high risk, very high reward.
Blair
Well-Known Member
Think of it this way, every time the market drops you are getting a discount and keep the 401 savings on autopilot. I hope it goes down because after the big dips we see big gains, unless you are retiring soon. If you take someone else's advice make sure they show you the performance of their personal savings. If they don't take care of their own money they won't take care of yours.
Some great advice here, I'll echo the comments about taking advantage of whatever free money there is (matching, pre-tax), not worrying about the short term fluctuations on 401's (you're a ways off from cashing it in yet)- just make sure you have a strategy that matches your current state (maybe on the aggressive side now).
And also the refi if you are a homeowner to take advantage of the reduced rates, and keep paying your current payment (like Pat said). Thanks to my wife, we refi'ed twice, and just throw extra at the principal. It makes a difference.
We have spoken with a few different advisors- some available through jobs, some independent, and as far as whether to pay down debt (mortgage) or invest the extra in a fund, the advice we got by and large is to do what is important to you, seemingly because in the long run its kind of a wash.
Maybe the biggest question is whether it's important to have liquid assets or not.
Any way you slice it, I like Matty's plan.
And also the refi if you are a homeowner to take advantage of the reduced rates, and keep paying your current payment (like Pat said). Thanks to my wife, we refi'ed twice, and just throw extra at the principal. It makes a difference.
We have spoken with a few different advisors- some available through jobs, some independent, and as far as whether to pay down debt (mortgage) or invest the extra in a fund, the advice we got by and large is to do what is important to you, seemingly because in the long run its kind of a wash.
Maybe the biggest question is whether it's important to have liquid assets or not.
Any way you slice it, I like Matty's plan.
Last edited:
make it through spring, then we'll talk!
qclabrat
Well-Known Member
I agree with this a point, your greatest equity should be your rental property not your home. But not all in one shot. I don't but have heard that renting to college students is incredibly profitable. I'm been egging the wife for years to buy some multi families in Princeton
Arwen's Mom
Mother of Dragons, Breaker of Chains
Gonna let my son support me.
😉
😉
Red Mosquito
Formerly RLB the Scrapple Boy
Damn I miss Chappelle show!
So i would like to deliver a bit of hope.
I was visiting my Dad in Clearwater, Florida. He lives on a golf course, on tampa bay, in a 3 bedroom condo. He doesn't need
3 bedrooms, but my Mom insisted - cause if the kids came down......anyway, the value is in the 2 bedroom. more to come
the pinellas bike trail is not far away (although there are bike lanes, it is a bit crazy down there)
It is a gated community with security.
There are 4 groups of buildings 7 stories high, about 10 units per floor, each with a pool/hottub/clubhouse, views of water/golf.
Of course some are more desirable than others, but all solid.
There is storage available on property
there is an independently owned marina on property with boat and kayak rentals - he discounts for the local (we paid $50 for 3 kayaks, for 2+ hours)
there are a few kids, but not many.
each unit has washer/dryer in a storage closet
screened lanai (porch) - two if you have a corner unit
it is less than 10 minutes from st pete airport (PIE) and about 30 from tampa (tpa)
it is 30 minutes from clearwater beaches (maybe a bit less, but there is always traffic)
shopping is plentiful
dining is plentiful
Here are the listings -
http://www.trulia.com/FL/Clearwater,14026,Cove_Cay/
https://www.google.com/maps/place/3...2!3m1!1s0x88c2efe568411dcf:0x51ed62a63c44c8c4
so purchase from 100k - 250k
taxes - i believe my dad pays less than $2k/year
condo fee - 300/mo - includes electric, cable (some HD channels), water, 1 covered parking space, i don't remember what they do if you have two cars)
this place is an island to itself, in a very busy part of florida. you'd never know when inside the gates.....
don't use nj as your benchmark!!!!! its a death trap, a suicide rap.....
I was visiting my Dad in Clearwater, Florida. He lives on a golf course, on tampa bay, in a 3 bedroom condo. He doesn't need
3 bedrooms, but my Mom insisted - cause if the kids came down......anyway, the value is in the 2 bedroom. more to come
the pinellas bike trail is not far away (although there are bike lanes, it is a bit crazy down there)
It is a gated community with security.
There are 4 groups of buildings 7 stories high, about 10 units per floor, each with a pool/hottub/clubhouse, views of water/golf.
Of course some are more desirable than others, but all solid.
There is storage available on property
there is an independently owned marina on property with boat and kayak rentals - he discounts for the local (we paid $50 for 3 kayaks, for 2+ hours)
there are a few kids, but not many.
each unit has washer/dryer in a storage closet
screened lanai (porch) - two if you have a corner unit
it is less than 10 minutes from st pete airport (PIE) and about 30 from tampa (tpa)
it is 30 minutes from clearwater beaches (maybe a bit less, but there is always traffic)
shopping is plentiful
dining is plentiful
Here are the listings -
http://www.trulia.com/FL/Clearwater,14026,Cove_Cay/
https://www.google.com/maps/place/3...2!3m1!1s0x88c2efe568411dcf:0x51ed62a63c44c8c4
so purchase from 100k - 250k
taxes - i believe my dad pays less than $2k/year
condo fee - 300/mo - includes electric, cable (some HD channels), water, 1 covered parking space, i don't remember what they do if you have two cars)
this place is an island to itself, in a very busy part of florida. you'd never know when inside the gates.....
don't use nj as your benchmark!!!!! its a death trap, a suicide rap.....
ekuhn
Well-Known Member
Del Boca Vista Phase 3!!
Stepford wives unite, move to the land of Jewish dreams that is just like Israel minus those pesky Palestinians trying to kill you all the time. The land is flat, the temps warm and the soil sandy, just ignore the are the dying people and the ones on vacation, it is your destiny.
rick81721
Lothar
Or stay in stinkin nj, land of ridiculous taxes, too many people and shitty winters. Biggest negative I see in Florida is lack of mountains/big hills. Checking out s. Carolina and northern florida in may.
