November 23, 20169 yr If you know what you're doing the stock market can be a gold mine. I'm clueless so I generally stay away, but man the money you can make...:eek: Just buy an index fund of the overall market and hitch your wagon to that.
November 23, 20169 yr Just buy an index fund of the overall market and hitch your wagon to that. I'm talking more the day-trading side of it....Couple guys I know making more than I could ever imagine doing it. I'm talking ridiculous amounts of money. Wish I knew the secret. :lol2:
November 23, 20169 yr I'm talking more the day-trading side of it....Couple guys I know making more than I could ever imagine doing it. I'm talking ridiculous amounts of money. Wish I knew the secret. :lol2: Luck. :lol2:
November 23, 20169 yr Just buy an index fund of the overall market and hitch your wagon to that. Just helped Jr. sign up for his 401K. They have the funds that go by your expected retirement age. Blend the mix at a higher risk depending on your age. Love that feature.
November 23, 20169 yr Let the spin begin... CNBC on Twitter: "BREAKING: Dow Jones Industrial Average hits 19, for the first time ever https://t.co/YKho1O67Ek https://t.co/YUMfFDht7b" I'm 54 and my broker told me to expect one more correction before I retire. he had me go a little less conservative on things. I hope he is right.
November 23, 20169 yr Just helped Jr. sign up for his 401K. They have the funds that go by your expected retirement age. Blend the mix at a higher risk depending on your age. Love that feature. Mine is returning 2% the past couple of years. I am meeting w/ our financial guy 1-on-1 next week to discuss this b/c that return is a joke. I'm taking my future 401(k) contributions and getting multi-families. The return on money seems much better.
November 23, 20169 yr Mine is returning 2% the past couple of years. I am meeting w/ our financial guy 1-on-1 next week to discuss this b/c that return is a joke. I'm taking my future 401(k) contributions and getting multi-families. The return on money seems much better. You're either in way too conservative of a fund (i.e. money market) or you've got the wrong cat doing the investing. Best thing that ever happened to me was when I left my long-time employer and took my 401k to a self-directed IRA ie I get to pick the investments vs counting on some other guy.
November 23, 20169 yr You're either in way too conservative of a fund (i.e. money market) or you've got the wrong cat doing the investing. Best thing that ever happened to me was when I left my long-time employer and took my 401k to a self-directed IRA ie I get to pick the investments vs counting on some other guy. It's in the 2045 fund. That's why I'm meeting with him to get out of it and get redirected.
November 23, 20169 yr Our options at work are all in those target funds, which is ok but not when its the only option. But we just got notice yesterday that we will be switching to another firm to run our 401k stuff. Third firm in the 5 years Ive worked here. Stupid.
November 23, 20169 yr It's in the 2045 fund. That's why I'm meeting with him to get out of it and get redirected. This fund has cost you money. If you were just in a S&P index fund (meaning no stocks have to be picked by anyone) you'd be up about 10% this year. You miss that over a couple of years and you've cost yourself a lot of money with compounding taken into account. You're young. You should be aggressive with your long-term money. Ex: Let's say you have $50K in there. 20 years at 2% means you'll have $74k. 20 years at 10% means $336K.
November 23, 20169 yr You're either in way too conservative of a fund (i.e. money market) or you've got the wrong cat doing the investing. Best thing that ever happened to me was when I left my long-time employer and took my 401k to a self-directed IRA ie I get to pick the investments vs counting on some other guy. And not having to pay a fee for someone else to "manage" it.
November 23, 20169 yr This fund has cost you money. If you were just in a S&P index fund (meaning no stocks have to be picked by anyone) you'd be up about 10% this year. You miss that over a couple of years and you've cost yourself a lot of money with compounding taken into account. You're young. You should be aggressive with your long-term money. Have to have that option though, have to take what they offer.
November 23, 20169 yr Have to have that option though, have to take what they offer. Agreed. Need to find out what funds offer you more growth. If they do not have them complain to your employer. It's a benefit that is costing you a lot of money.
November 23, 20169 yr Agreed. Need to find out what funds offer you more growth. If they do not have them complain to your employer. It's a benefit that is costing you a lot of money. Complain to employer thats a good one.
November 23, 20169 yr Complain to employer thats a good one. If an employer loses good employees over benefits it will have to change or replace good employees with newbies.
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