Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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I don't have a numerical goal. But, let's assume i have about $5k to work with for now (i'll get more, i have a job! :))
I want to be able to build up some good earnings within the next 10...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Great resources! Thanks guys!
In the meantime, are there any good blogs/newsfeeds to read up on that you guys would recommend?
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Roth IRA contributions can be taken at anytime. Attempting to combine the '60 day rollover' into the $5k ($6k if 50+) annual contribution limit is confusing and unnecessary.
The $10k rule is an...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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If I'm not mistaken;
You can withdraw all contributions made into your Roth whenever you want, penalty free. The earnings is what gets the penalties. So in this scenario, you can withdraw $10,000...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Vanguard's a great choice - the best in my opinion.
Have you considered one of their target retirement funds? They're the most automatic of any your choices. You simply put money into it month...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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What if I had said never follow advice from strangers, hmmm?
Actually I should have said, "don't try extremely hard to find the very best mutual funds or stocks. It can't be done, except by luck."
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Since you are asking for financial advice from random strangers on the internet, I qualify. But I am just going to second the above quote. Start with that book. It could be all you ever need.
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Whatever you do...start now and put at least the company match if any in a 401k.... or similar,,,IRA if necessary. 10% is the goal of every paycheck..then bump it every time you get a raise as high...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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short gold,short munis ,short bonds,short banks,short facebook,buy energy and medical
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Hey everyone!
I just got a savings account, and i'm looking to find the next steps to start investing. The wealth of information for investment is kind of overwhelming, so i'm wondering if i'm off...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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these are all bad right now IMO, not only are the returns low but with QE3, QE4 coming you will lose big time.
I would recommend buying rental propertie(s) in rental neighborhoods and invest...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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What do you guys feel about betterment.com?
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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I'm 23 and at the start of my path to FI also. I read GetRichSlowly and SeekingAlpha pretty often. Pick up I Will Teach You To Be Rich I've recommended this book to a ton of friends and they all have...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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1 - If your 24 you have a long time horizon (40+ yrs) to retirement.
2- You should open a brokerage and a IRA (ROTH Preferred). I like TD Ameritrade for a full service discount brokerage. ...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Roth distribution are taken as such:
1st: contribution are taken out; these are taken tax "free" as you have already paid taxes on these funds
2nd: conversions into a Roth; there is a 5-year...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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You mean like you?
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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AndrewTobias.com is good. He's rich but a tightwad (believes in stocking up on bargain priced canned goods, buys used cars). However a lot of his blog is political, not financial. Also don't buy...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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You learn that when you lose money on investments you were sure where a good idea. :)
But vault is right, no one can answer any of your questions if you haven't stated your explicit goals...just...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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I have the same problem. I'm your age and I can't figure out what percentage of my savings I should put in my IRA versus saving to buy a house down the line.
That said, if you do open an IRA, you...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Avoid sales people, whether they call themselves brokers, advisers, planners, or worst of all, strategists. It probably takes as much skill and knowledge to pick a good adviser as to pick good...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Actually yes. I have my roth going to one of their target date funds. The mutual fund I was talking about is just for my investment account. I get what your saying I am planning on getting into two...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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I did a bit of research and reading. I bought and read http://www.amazon.com/gp/product/0470102101/ref=wms_ohs_product and http://www.amazon.com/gp/product/B000R344PC/ref=wms_ohs_product .
My...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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The unicorn ambergris market is hot too.
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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So your saying if I have 5K to invest I should invest in a rental property instead of a roth?
What like a dog house for 5K? Also its not like you just buy a house and sit and collect money. There...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Solid.
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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I tend to favor the roth more than a regular IRA. Sure you get the tax savings now when using the regular IRA, but tax rates are likely to go higher as you get closer to retirement.
Bogleheads...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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What are your goals and what is your financial situation?
What is your risk tolerance?
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Probably the worst advice I've ever seen for a beginner - from simple passbook savings to shorting secular bull markets. No only is this poor guy clueless as to WTF you're talking about, it's...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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If you open an IRA account with a major broker like those listed, they're probably going to have a number of commission-free ETF's that you can buy. They're designed for beginning investors who don't...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Yes! But no!
Do this, but know that you cannot pull more than $10,000 for a downpayment from your contributions. I actually know several high income people who were maxing out their 401k with...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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I have several houses I purchased for around 50k each, and rent out from upper 700's to low 900's that covers the mortgage and brings in about 4-6k year income.
where as the bottom is dropping out...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Can't he/she just max out there IRA each year and the withdraw any contributions later for a down payment? You can't withdraw the earnings but it was my understanding that you could withdraw your...
Beginner investor, good plan of action?
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Thread created 07-21-2012 by Handonam
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Here is an easy-to-understand, very helpful guide to investing. It will answer many or most of your questions and help you determine which path is right for you.
To answer your question of "where...
