Investing

[stemikger]

Hey Folks, this has been inspired by another thread telling people about Dave Ramsey and also I noticed on yet another thread that asked what people did for a living and I saw there were a few financial professionals.

My question to experts and non-experts alike are.  How do you feel about investing for your future.

Do you do it. 
Do you put it off.
Are you unable to do it becuase there is no extra money or worse, no job.

If you do do it.  What kind of investor are you.

Managed mutual funds, index funds, individual stocks, bonds or are you more of an active investor (i.e. trade stocks often, buy and sell real estate, invest in running a businesse).  Or are you just a saver and put your money in money markets or savings accounts.

I would love to here what you guys think about these things and also where you get your financial advice from.  I personally get my advice from books from people like David Bach, Dave Ramsey, John Bogle, Warren Buffett's annual reports and several others.

Also feel free to take this topic and run with it.

I myself am an index fund investor.  I don't believe that managed funds can beat the market for the long term because of their fees.  I never bought an individual stock and the only real estate I invest in is my own home.  Most of my money is in my 401K, but I also have a smaller fund on the side with Vanguard.  All of it is in index funds. 

[The Scottish Ambassador]

Personally, in view of the fiasco in the British banking system, I would reckon its probably safer under the bed.

[D.A.L.U.I.]

Pretty simple, first of all--never buy what my wife buys--everything she buys sinks, fast .
Overall, I still like banking stocks, there are some good ones out there w/ great potential for a great return on the investment at current prices, and some pretty good dividends in other areas--I never buy stocks to speculate on price/share, it's dividends that loosen my purse strings.  But overall, if my wife likes it, steer clear!

[Robmeister]

I've been in accounting, finance and financial services for 11 years and have learned....epitomized by 2 particular books that if you're doing what 95% of the people out there are doing, you'll wind up like 95% of everyone else  STRUGGLING.  The typical advice out there is 1) Play it safe by working for someone else and having paid benefits, 2)  Pay off your house and 2) Sock away into some sort of qualified retirement plan (401k, 403b, IRA, etc..)

Here are the latest statistics on retirement:

1 out of 100  Americans retire wealthy
4 out of 100  Retire financially independent
45 out of 100  Are dependent on the Government (a.k.a. Social Security [yeah right!])
50 out of 100  Can't retire, they are the greeters you see at Home Depot.

If ya follow the advice of the masses, you'll wind up with them. 95% of Americans make only 5% of the money (whether in retirement or in the marketplace)....5% of Americans make 95% of the money.   Ya wanna think out of the box?  Read two books to start with:

http://www.amazon.com/Missed-Fortune-101-Becoming-Millionaire/dp/0446693510/ref=sr_1_1?ie=UTF8&s=books&qid=1271337773&sr=8-1

http://www.amazon.com/Rich-Dad-Poor-Money-That-Middle/dp/044656740X/ref=sr_1_1?ie=UTF8&s=books&qid=1271338757&sr=1-1

[stemikger]

I've been in accounting, finance and financial services for 11 years and have learned....epitomized by 2 particular books that if you're doing what 95% of the people out there are doing, you'll wind up like 95% of everyone else  STRUGGLING.  The typical advice out there is 1) Play it safe by working for someone else and having paid benefits, 2)  Pay off your house and 2) Sock away into some sort of qualified retirement plan (401k, 403b, IRA, etc..)

Here are the latest statistics on retirement:

1 out of 100  Americans retire wealthy
4 out of 100  Retire financially independent
45 out of 100  Are dependent on the Government (a.k.a. Social Security [yeah right!])
50 out of 100  Can't retire, they are the greeters you see at Home Depot.

If ya follow the advice of the masses, you'll wind up with them. 95% of Americans make only 5% of the money (whether in retirement or in the marketplace)....5% of Americans make 95% of the money.   Ya wanna think out of the box?  Read two books to start with:

Thanks Robmeister.  I saw the author on You Tube and was very intrigued becuase the advice was the complete opposite of all of the authors I admire and have followed.  However, I'm open-minded and always look at different methods and ideas.  Dave Ramsey in so many words blasted the author when one of his callers asked about it.  I'm pretty sure he didn't mention him by name, but basically said it's a gimmick.  He said he used to be an insurance salesman and is just adding more risk with these methods.

I don't really know anything about the books, but I will be sure to check them out.  I do admire Dave Ramsey, but he can be too much with the know-it-all persona sometimes, so I am always willing to read other investing books, even if I don't agree with them.

I love the Book Rich Dad Poor Dad and How the Rich Invest by Robert Kyosaki, but it does not fit my personality to become a real estate investor (other than my own home), but I still enjoy his books.

Thanks again.  

[GASlick]

I had a little mix of everything going on for years.  Until three years ago when I stepped into entrepreneurship.  That didn't end well.  So now, I'm starting over at ZERO at almost 40 years old. 

What little I have built back, I have a very nice lady that works for Edward Jones that handles it. 

I agree with Saint for the most part.  I have several bank/financial stocks, as well as index funds.

[stemikger]

Posted by GaslickI had a little mix of everything going on for years.  Until three years ago when I stepped into entrepreneurship.  That didn't end well.  So now, I'm starting over at ZERO at almost 40 years old. 

Sorry to hear that.  We all have setbacks.  When I left my dad's business many years ago, I walked away from everything and didn't sell a thing.  However, I learned a lesson I would never forget, so I chalk that one up for the "School of Hard Knocks".