Investing

#26
#26
I agree the market is fine,401K etc.,my wife and I both have those,plus other investments.IMO the problem with putting all your money in the retirement finds is you can't get it out without heavy penalties then by the time you do start drawing it out, how old will you be?It's something you have to do but real estate has tax shelters,etc. and if you play your cards right you can retire alot earlier.
 
#27
#27
Has anyone on this board tried house flipping? It's risky, but an excellent way to make quick money if you know what you're doing.

I've thought about flipping the first house I buy- to test my ability.
 
#28
#28
SWIL said:
Has anyone on this board tried house flipping? It's risky, but an excellent way to make quick money if you know what you're doing.

I've thought about flipping the first house I buy- to test my ability.
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I've had a few rental houses in the past but have never flipped any.My best friend,past away prematurely, who happened to be a real estate attorney/jet pilot, and wealthy,basically my (financial) mentor,would tell you to go for it.The bottom line is you can either go for it and make your own wealth or rely on other people.The few wealthy people I do know, both have houses,commercial property,etc.I'd certainly start out on the smaller scale first and make sure you have a good lending/mortgage agent.Good luck!
 
#29
#29
Hey, thanks for the encouragement man- it's only a matter of time for me.
 
#30
#30
I need some help. Not sure exactly how to invest my money. Not sure if this is good or not. I have my 401k from work thru Fidelity so i do that, then come March when i get my bonus i'm putting that into a Roth IRA, and then I'd like to put some money into CD's as well but I'm not sure how much to put into which ones. Can anyone help?
 
#31
#31
Vol Mania 21 said:
I need some help. Not sure exactly how to invest my money. Not sure if this is good or not. I have my 401k from work thru Fidelity so i do that, then come March when i get my bonus i'm putting that into a Roth IRA, and then I'd like to put some money into CD's as well but I'm not sure how much to put into which ones. Can anyone help?
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personally i feel like anyone under the age of 40 should be 100% invested in stocks (or real estate) as long as this money is intended to be a long term investment. I'd only buy cds if you have a future use for the cash and/or if it's your emergency money. The old rule of thumb is put your age in bonds i.e. if you were 30, put 30% of your savings in bonds. But if you have a 30 or 40 year time horizen before you retire you can take fluctuations in the maket. I'd also max out the 401k before doing anything. A roth is a good investment too, but i'd max out the 401k first. But i would have 3 months salary in cash (or at one of those online banks that pay 5.5% [make sure it's FDIC insured]) for emergency purposes as well.
 
#32
#32
That 800 point plunge in Dow looks rough for any investor right now.:eek:hmy: Of course I know your suppose to spread your money around and keep in there for the long duration but still............the market is :crazy:
 
#33
#33
If the market is down more than 200 points tommorow at the close. . . look out. Monday will be a bloodbath. Too many of these hedgefunds are having margin calls already because of the credit scare. Give their creditors the weekend to take a strong look at their positions and EVERYONE will have to sell. Dow could be down 10%.

:sick:
 
#34
#34
Sometimes I should really listen to myself (I'm so pissed I didn't move my 401k into cash):

Aug 1st:
"I don't think that people really understand the crisis this economy is currently in. This subprime stuff in the last two weeks has frozen the credit markets. nothing is getting done. People are calling credit lines on anything with a questionable credit. We're going to see a lot more leveraged companies go under (even ones that aren't mortgage related) if things continue like this. Debt has been so cheap the last couple of years that many companies are leveraged to the hill. AHM, a prime mortgage company, with a great reputation just went under because their credit lines got cut. They weren't even having a lot of defaults. Watch this stuff filter in to other businesses. It's only a matter of time. The fed better get off it's butt and do something."

http://www.volnation.com/forum/politics/31058-dow-tops-14-000-a-8.html
 
#35
#35
10% Oh my.That is horrible.It's my understanding the foreign investors (French) are concerned with our housing market/ thus mortgage loans failing.I studied that some with foreign exchange markets,etc.Seems so unpredictable to me.
 
#36
#36
droski said:
Sometimes I should really listen to myself (I'm so pissed I didn't move my 401k into cash):

Aug 1st:
"I don't think that people really understand the crisis this economy is currently in. This subprime stuff in the last two weeks has frozen the credit markets. nothing is getting done. People are calling credit lines on anything with a questionable credit. We're going to see a lot more leveraged companies go under (even ones that aren't mortgage related) if things continue like this. Debt has been so cheap the last couple of years that many companies are leveraged to the hill. AHM, a prime mortgage company, with a great reputation just went under because their credit lines got cut. They weren't even having a lot of defaults. Watch this stuff filter in to other businesses. It's only a matter of time. The fed better get off it's butt and do something."

http://www.volnation.com/forum/politics/31058-dow-tops-14-000-a-8.html
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Seems you hit the nail on the head.
 
#37
#37
utfantilidie said:
10% Oh my.That is horrible.It's my understanding the foreign investors (French) are concerned with our housing market/ thus mortgage loans failing.I studied that some with foreign exchange markets,etc.Seems so unpredictable to me.
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we'll we know that subprime, private equity, and junk debt has tanked. So the question is who holds all this stuff and how much of it do they hold? That's why all the financials are tanking. My guess is that we will see a bunch of big hedge funds go under in the next 3 or 4 weeks. But we all know the major banks were doing this stuff too. That french thing is crazy. They come out and say they are freezing redemptions, but they don't have a liquidity problem? riiigggghhttt.
 
#38
#38
droski said:
we'll we know that subprime, private equity, and junk debt has tanked. So the question is who holds all this stuff and how much of it do they hold? That's why all the financials are tanking. My guess is that we will see a bunch of big hedge funds go under in the next 3 or 4 weeks. But we all know the major banks were doing this stuff too. That french thing is crazy. They come out and say they are freezing redemptions, but they don't have a liquidity problem? riiigggghhttt.
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Yes.I know my father in law has made a ton of money through the years thanks to his broker so if he does have a few down months he can't complain.
 
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