Investing?????
- Thread starter KduncSS
- Start date
Better keep your eye on your money. It probably won't be there when you're 45. Some Nigerian probably has it already.
How much is "decent money"?
Also, this would be the last place I would look for investing advice. Ask a professional.
you realize there are several very accomplished people in the financial sector in here?
Most "professionals" can barely tie their own shoes, much less properly allocate a portfolio. The average financial advisor is nothing but a pitch man with a snazzy title (ever notice how they are all vice presidents)
Thanks for all the replys. I will most definitely talk to someone qualified before making a final decision, but as I said I knew very little on the subject and I like to atleast have an idea of what Im getting myself into. I will be shopping around to see what kind of rates are being offered on CD's currently in my area.
Keep your money safe in the bank for now. Read read read... :read: find something you like the look of and then read some more!
Only when you have a full understanding of whatever it is you want to invest in should you go ahead and put your money into it. This goes for everything - stocks, real estate, small business - EVERYTHING.
Don't spend a penny until you understand what you are buying.
Only when you have a full understanding of whatever it is you want to invest in should you go ahead and put your money into it. This goes for everything - stocks, real estate, small business - EVERYTHING.
Don't spend a penny until you understand what you are buying.
Sorry, but you are full of it. :bs:
Off-Shore accts are used as tax shelters and rarely return a decent rate, let alone 100%/yr.
Wow that is hysterical. The Virgin Islands? Really? Do you mean the U.S. Virgin Islands or the British Virgin Islands? The U.S.V.I. follow U.S. banking laws. The B.V.I. follow Englands banking laws and regulated by their financial services commission. Neither provide the protection which is synonymous with "off-shore banking" and neither are havens for investing.
Once again :bs:
Prove me wrong and post a copy of your bank statement with the routing/account number blacked out.
And that is why I directly manage all of my investments.
When the market is down is exactly when I am adding to my stock positions. I only consider moving more of a percentage to money markets during huge market upswings. I don't time the market with a full portfolio move, just adjust my risk position.
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myself, vert99cobra, and a few others Im forgetting right now. I know FORDSVTFAN has an MBA from Chicago GSB
CPA-great for tax purposes, but if they knew what the capm was, Id be surprised
Attorney- Um, what does the average attorney know about investing?
CFP-uh, just a mildly more accomplished "stockbroker".
now a CFA, that might be more like it.
same here
Owned by adam lol
Normally that's good advice. But you also know that an investment strategy is based on how much risk you are willing to assume, and your time base. I'm 60 and about to retire, so I'm more concerned about not losing my principal as I anticipate moving (out of freezing depressing Michigan). So I want to keep some liquid funds. My 5.25% CDs are better than the money market (which has been dropping), and stocks/mutuals FOR THE NEAR TERM (12-24 months). Under other circumstances (a longer time base), I'd buy low and wait for the next upswing in the market.
Regarding taking the advice of "investment professionals" - do you recall the adage "if you placed all the economists in the world end to end, they'd never reach a conclusion"? Reminds me of my own investment advisors - always arguing about the best investment, or my tax advisors arguing about the correct interpretation of tax law. Sometimes I think I'd do better flipping a coin or "asking the 8 ball". Hence my advice to the OP to diversify.
That should shut that guy up, Im sure he won't post in this thread again. I dont know why people constantly have to make stuff up, is it so hard to just not post on a topic you dont know anything about?
What would you advise the 22 y/o OP to do then? Let's assume he came into $15K. That would be a pretty good downpayment on a cobra like said originally.
Also, can you validate your response by providing your professional experience and education?
This may help other young svtp'ers....
I just passed the second test of my CFA... hopefully next year I will have passed the third test next year at this time...
I am loling at some of the responses in this thread... first one guy putting $300,000 in an offshore account last year and now its %600,000:bs:? Please tell me what bank? I would love a 100% interest rate.
second... who the hell has a savings acount right now with %6.01 that is a rediculous interest rate on a savings account... and I am going to have to call :bs: on that one as well. Even last year when the interest rates were high %5.05 was about the highest you could find. Everything has settled to around %3.5 + or -. Plus one thing banks like to do is start you out a high rate and cut you down without you even knowing. I bet if you checked now your rate is about %3.00
Anyone who says they are making a profit on their 401k's right now in this thread are full of crap. Because of the risk right now I have all of my 401k in a money market account with decent returns. Most investment firm managed 401k's are even or in the negatives right now.
Laddering short-term CD's is a smart way to get a return for your money, if you can tolerate having an amount of cash tied up for a specific time period.
TIPs, or "short term Treasury bonds", serve the same purpose, too...
I manage my money directly and contribute when I can.
Right now, I'm not working and not contributing but I still watch what's going on in the financial markets day-to-day.
There are ways of making money which incur high risk, but most people don't have either the capital or luck to take advantage of unpredictable stock moves during the day...."day trading" is hit-or-miss, and typically you break even if you're lucky.
I don't have a crystal ball or big money, but I'm still invested in oil stocks long-term which give me a quarterly dividend return.
TIPs, or "short term Treasury bonds", serve the same purpose, too...
I manage my money directly and contribute when I can.
Right now, I'm not working and not contributing but I still watch what's going on in the financial markets day-to-day.
There are ways of making money which incur high risk, but most people don't have either the capital or luck to take advantage of unpredictable stock moves during the day...."day trading" is hit-or-miss, and typically you break even if you're lucky.
I don't have a crystal ball or big money, but I'm still invested in oil stocks long-term which give me a quarterly dividend return.
I was employed by citigroup and morgan stanley for a little while, and have been doing Risk Analysis at the New York Stock Exchange for going on three years. B.A. in Economics, and Im about 66% done with an MBA at the Leonard N. Stern of Business at New York University, with concentrations on finance/financial instruments & markets. Im also preparing for the level I portion of the CFA exam in December. Fwiw, Im 24.
I think my first post in this thread gives a decent recommendation, with the exception of the real estate portion.
Mid to high level junk bonds,
index funds
sector etfs, etc.
Obviously it will take a lot of research and learning for a complete neophyte to understand what funds/sectors to invest in, but with some practice and a whole lot of reading, the aforementioned investments should provide a decent return.
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