Investing 101... How's your portfolio?

[JediMAC]

So with the market hovering around it's highest point in about 4 years, I've been feeling much better about my "investments" of late.  I put that in quotes, 'cause basically my "investments" are nothing more than my 401K plan at work.  But at least it's up to around $50K now, and showing a slight profit finally, so I'm feeling slightly better about things, after many years of torturous headache...  I still need to branch out into some other investment areas though, I'm sure.  Just been too lazy to doing anything on my own so far.  I figure tossing a full 15% into our plan the last few years, and getting a nice 20% matching from my company is at least a decent start for now.  Very glad to see the market rebounding these last 6 months, after many dreadful years.

So where do you folks stand in the investing world?  Have anything, or have you been procrastinating?  How long have you been investing?  What areas are your investments in?  Where do you think we "should be" at this point in our lives as far as our retirement savings?  Etc...

Any good tips for those of us who really don't know jack **** when it comes to this kinda investing stuff?

[Infamy Of Crete]

My investments  properties I sold last year and almost doubled in value I bought for about 100,000 and I sold it for about 180,000 and I had no outstanding second mortgages or anything else on it.   My other property has be increasig in values at a staggering rate of about 23% and worth close to a quarter million now.  I have numerous investments my 401k's have basically been a wash but at least I haven't lost. I stay primarily in the janus fnd, contrafunds, bonds and a  few blended funds. My liquidity  have increased to about 30,000. I have a few laddered CD's and then individuals stocks which have been the bane of my stock portfolio these past few years,  however, I want to believe things will get better.  Overall, I feel finacially stable my goal is to be at a million dollars total by 40 I'm closing in fast.

My advice get in real estate stay in it and get into more aggresive funds Contrafunds, Janus funds and riskier sdtocks your lucky that you have more time on your side than I do.  I'm 37 My friends have nothing they don't save and spend everything they got and a lot they don't have. Other have it and spend it anyway, I'm out at 50 I plan to start traveling and living it up well before my retirement years. I'll live on the interst and get a tiny condo somewhere with blue water and great drink special and live off the interest for the rest of my life.     Of course I plan to be mostly liquid at that point so I can cash and carry .

The point of that little rant is to have a goal. My wife and I set clear finacial goals...if oyu have to pinch pennies to meet your goal do it. Nobody looks out for oyu when it comes to oyur own personal finances. My ultimate goal is to create generational wealth for my family so they do not have to work(in the traditional sense) again. I'm very aggressive about my goals in public I call myself cheap My wife get frustrated at me for saying that and then goes shopping at Neiman Marcus . Any way I ranted way  way to long. Just have clear goals and take oyur finances seriously. 
Get rid of your credit cards keep the ones you have opne eliminate the balances and charge small things monthly and take two months to pay them off your credit score will sky rocket.

[JediMAC]

Yeah, I meant to mention the Real Estate aspect too.  Brainfart.  Definitely good advice on that one Gary, especially for those of us out here in SoCal where the ****'s going through the roof at absolutely insane rates.  Our house has already gone up over 50% in value since we got it just a year and a half ago.

The Mrs. and I have been talking recently about looking into buying a townhouse or small home to rent out, so that will likely (hopefully) be the next investing area we branch out into.  We may even get a new place for ourselves, and rent out our current place instead.  I was just reading somewhere on CNN.com last week about the breakdown in new home purchases across the country last year.  More than 25% of all new homes bought were going to be rentals for investing purposes.  Wow.  Makes me feel like we're definitely lagging in that department...   

I was into the laddered CDs for a bit too, but cashed them out when we were buying our place a while back.  Wouldn't mind getting back into those as well, and with the rates finally starting to move upwards a little bit, it's a decent (if not slow) option to make a little extra pocket change.

I'd also like to hopefully retire before I'm 40.  What's the best way to make that work?   

[jjks]

I'd also like to hopefully retire before I'm 40.  What's the best way to make that work?   

Good luck with that, what do you have, like 2 years left to hit that goal?

[Famine]

What kind of saving strategy would you recomend for some one who is 18 years old, and just starting into the wroking world?

Kevin

[JediMAC]

Good luck with that, what do you have, like 2 years left to hit that goal?

Watch it, Baldy!     I've actually been thinking about becoming a hardcore giggalo for the next few years.  I think that's the quickest way to get me into a decent enough retirement savings so I can relax at 40.  Just have to figure out how to clear that with Patty...

As for you Kevin, I'd just stick with a risk free, low yield savings account or CD, to save up a little bit for college, or your future wife's rock, or whatever.  But for now, you should just enjoy your freedom and have fun!  Don't worry too much about the savings until you're all partied out.  Of course, that's why I didn't start saving until I was well into my late 20's...   

Maybe best not to listen to me...

[Famine]

Taking financial advice from this guy:




Have I stooped that low?

Kevin

[JediMAC]

Actually, if you took it from the guy on the left, you'd probably be in pretty good shape.  Deanpaul knows his ****...   

[jjks]

So when I asked you a while back if you knew anywhere I could grab a couple of VOTC Lando's at 10% off, and you said no, that wasn't the truth was it Colman??

[Infamy Of Crete]

Yeah, I meant to mention the Real Estate aspect too.  Brainfart.  Definitely good advice on that one Gary, especially for those of us out here in SoCal where the ****'s going through the roof at absolutely insane rates.  Our house has already gone up over 50% in value since we got it just a year and a half ago.

Matt,
Yeah, I would love to be in your  position out there. Real estate is going nuts. I just hope the bubble doesn't bust soon. I have heard about a few of the Silicon Valley properties and what's happening in that region. If your  going to get a rental property here are some pearls of wisdom I had the fortune of learning the hard way. I have learned not by my own intelligence but by being stupid and lucky. Find an area that just about built out buy a townhouse or something that is a manageable property estates (anything with land) is a pain in the ass to manage and way more expensive to maintain.
I would love to be in oyur position to cash in at 40 that not going to happen. Real Estate in Texas is realitvely cheap and oyu have to be very cautious of what oyu buy lots of problems here termites, clay soil, quality of builders is really bad. 

[Deanpaul]

Actually, if you took it from the guy on the left, you'd probably be in pretty good shape.  Deanpaul knows his ****...   

Wow. Thanks. I don't know a lot, but here's my stab at it anyway.

Stop buying Star Wars toys. Right now. I mean it, do it today. Stop. Cold turkey.

Take all of that money and more to somone and set up a fairly conservative long term IRA. Live reasonably for the next, say 20 years and continue to put money into the account.

By the time you're Brent's age, you'll be able to retire and buy and sell each of us and our combined "collections". Seriously. If there is one thing I would do over, it's put more money into the IRA while in my 20's. That's how compounding interest works.

The only problem is that you're a SW junkie - just like the rest of us. And there's no treatment facility or 12 step program in sight for what we've got.

[JesseVader08]

I'm 29, and my wife and I finally got started on planning for the future about a year ago.  Our primary investments are RRSPs (registered retirement savings plans) and are working to max those out to bring our taxable incomes down each year.  We've also started on our daughter's RESP (registered education savings plan), which will help us save for her university education.  The Canadian government pitches in a % too.  But so far we haven't ventured into anything else riskier than that, yet.

The only problem is that you're a SW junkie - just like the rest of us. And there's no treatment facility or 12 step program in sight for what we've got.

Amen.  If I can't collect Star Wars right now, what have I got to look forward to in the future?   

I've actually been thinking about becoming a hardcore giggalo for the next few years. I think that's the quickest way to get me into a decent enough retirement savings so I can relax at 40. Just have to figure out how to clear that with Patty...

I don't think that 37 cents an hour is going to get you very far...   

[Darth Kenobi]

I one of the people who needs to start investing more and buying less SW stuff after this movie I will probally slowly quit buying the 3 3/4 figures and only collect the bust, posters and some select other stuff.  My investments right now are a mutual fund I started a few years ago which cost me $250 back then, right now the last statement I saw I think it was up to $375 or so (not that much profit since I haven't put alot of money in it).  My other investment is my 401k at work that I started about 3 years ago or so.  Its up to about $5,000 which I will put back in a future investment when I quit my job.  I figure that I'm in okay shape since I'm 25 but in a few years I planning on getting a few more bigger investments like a home and some other land.

[Shannon (Princess)]

Okay, so if the stock market is at a high, wouldn't it be best not to buy into it?
I'm a single mom, child in day care for 1 1/2 more yrs, child support just enough to cover my rent- if I get it!, and I need a safe investment that I can also take out if I need to in an emergency- so nothing that MUST be long term.  Have the 401 k and all, but want something to kind of nest egg so once the car is paid off and no more day care I can see about getting our own place.  Looking for a place to put that extra tax-credit into.   
Any suggestions?
Yeah, and C3 is a major expense- but it's been paid for by O/T and bonus checks- woo hoo!  Luckily, it's not every year...

[Jim]

Spend the money at least once on a financial advisor.  It helps if it is someone you know personally or that a close friend may of dealt with.  I started planning in my mid 20's.  My portfolio at work will end up being 750K (worst case) to 1.25M (best case) depending on how the market does.  If you have 401K at work, sink at least 6% of your income if you can.  I also have a portfolio outside of work through some private plans I was able to get into through a family member.  It also helps with my company since I have a pension and paid medical when I retire.  Medical is going to be huge when all of us retire.  Im sure you all are seeing plans diminishing  over the last few years.  Give it 20-30 years and medical will be the most expensive part of everyones life.  Also, what some fail to realize is that a million bucks 25-30 years from now wont be a heck of alot of money.