ozzman
Well-known member
Let me know if you want a recommendation. My good friend has his own firm down in Naperville
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Stock Market & Retirement Planning
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mr3putt
ichop
Robinhood.com or M1finance.com Both have $0 Commissions
I mentioned this before on this thread, but if you have an employer match and you max out early there is about a 6 in 10 chance you are missing out on some of your match. My employer matches the first 5% of each paycheck’s contribution, so if I max out early, I miss that match. About 40% of companies do a “true up” at year end. Here’s a made-up example. Let’s say you make $120,000/yr, get paid monthly, company matches first 5% of each contribution, and the maximum allowed contribution is $18,000. You get paid $10,000/month and contribute $1,800/month (18%). You max out in 10 months. Company match is $500/month x 10 months = $5,000. If you contribute $1,500/ month you max out in 12 months and company match is $500 x 12 months = $6,000. A true-up would give you an additional $1,000 if you maxed out in 10 months.
Let’s hope this market drop doesn’t continue into a bear market. I know these corrections are normal but it’s still not easy for me to watch. Yesterday was not a good day to check your 401k balance!
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Its not looking good for today either.
We cashed out last week (on a whim and lucky) on a number of things, but watching the IRA fall is not easy to swallow.
Prepping to buy a few stocks. Thinking Walmart right now even though retail is one of my least favorite sectors. Energy ETF is also under consideration. Nvidia for tech but that's a distant 3rd on the wish list. Long term buyer.
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I turned my funds over to a Financial Planner, I'm too close to the Finish Line to "Trip myself up" however if I was still doing it by myself, I'd be buying like it was going out of style.
It's like a Golf Ball Clearance Sale, Stock up and save.
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I did it this year however I have less than 10 years left to go. I did just fine by myself and I'm proud of how I much I was able to accumulate with a "Some Collage" Education.
Having "Mad Money" on TV was the greatest thing for me - It taught me to invest in things that I like. My biggest 3 holdings are Apple, Nike and Union Pacific.
With that being said, if you find the right one, they will help you get to where you want to go. Can you do it yourself? Sure However with 10 years left, I felt like the "Juice" I was paying was worth having someone that watches the financial markets all of the time. It's hard to come grips of letting go, but once you do, you'll feel better about it.
I have a mixed approach that includes professional management and a personal account. For the most part, I buy and hold dividend paying blue chips. One interesting note from yesterday is my personal account dropped less (%) than the pro account. 3M and Microsoft = ouch!
Funny you mentioned golf ball clearance...I got a flash sale email from Golf Galaxy. Truvis and B330 balls are on sale. Current inventory is 6 dozen so I decided the next purchase can wait until spring.
topspark
Member
Even though I am close to retirement, I am very much a novice financially, so given the recent days events, why are these preferred ?
Being fantastically unemployed, I've avoided this thread, but my cousin is looking for some advice, or at least someone to point her in the right direction.
Anyone a financial advisor or can talk retirement to her? She as an account with a not-broker and it's a bad situation. She's 65 btw if that matters.
Thank you in advance for the help!!
Anyone a financial advisor or can talk retirement to her? She as an account with a not-broker and it's a bad situation. She's 65 btw if that matters.
Thank you in advance for the help!!
My father has been a financial advisor for 25 years, and I was fairly close to joining his firm. I passed the series 7 and 66, but ultimately decided not to go into the business because I prefer flying airplanes.
One can certainly plan for their own retirement and manage their investments if they put the time and effort into learning the industry and keeping an eye on everything. But if you don't do it justice you can certainly lose your lunch. For me, it's worth it to find a fee-based advisor to do it for me since my family, work, and hobbies take up my time. For now, my dad does it for free, but when he retires I'll be finding someone else to do it.
For those looking, try to find personal references. The FA's that I know charge a sliding scale for fee-based business, which I would recommend over commission-based. Small accounts usually start with an annual fee around 1-1.25%, and decrease from there as account size increases. I wouldn't pay any more than 1.25% for a 6-figure account, and 1% OR LESS once you cross over 7 figures. Places like Chase or Vanguard that use call centers can be cheaper, but I hate call centers. I'd rather find a local person that gives more personal service. And just like most things, you get what you pay for. Don't go with the cheapest option in town just because they're cheap.
One can certainly plan for their own retirement and manage their investments if they put the time and effort into learning the industry and keeping an eye on everything. But if you don't do it justice you can certainly lose your lunch. For me, it's worth it to find a fee-based advisor to do it for me since my family, work, and hobbies take up my time. For now, my dad does it for free, but when he retires I'll be finding someone else to do it.
For those looking, try to find personal references. The FA's that I know charge a sliding scale for fee-based business, which I would recommend over commission-based. Small accounts usually start with an annual fee around 1-1.25%, and decrease from there as account size increases. I wouldn't pay any more than 1.25% for a 6-figure account, and 1% OR LESS once you cross over 7 figures. Places like Chase or Vanguard that use call centers can be cheaper, but I hate call centers. I'd rather find a local person that gives more personal service. And just like most things, you get what you pay for. Don't go with the cheapest option in town just because they're cheap.
Well, the first piece of advice is don't trust anything you read on the internet when it comes to stocks.
Just kidding, I'm happy to provide a few nuggets regarding the aforementioned investments.Walmart: 50+ years of success in retail. Entered into a strategic partnership with Microsoft this summer to help them transition into a digital retailer. Amazon is complicated company and it's way bigger than retail. Their infrastructure with business services and cloud based applications is impressive. That said; I think Walmart has the best chance to put pressure on Amazon's retail arm.
Energy ETF: it's a staple of the economy but finding the right company is tough. ~20 years ago I bought Enron over Exxon. D'oh! ETFs spread the risk. I like the industry.
Nvida: well run company with a strong position in chips and GPUs for gaming and telecom. Current remake of the The Graduate...one word: chips.
[video=youtube;Dug-G9xVdVs]https://www.youtube.com/watch?v=Dug-G9xVdVs[/video]
Good luck with your investments.
parsaver
Member
After today lots of stocks are getting cheap. I prefer REITS and trade myself. If an analyst knows what is going to go up they would not be an analyst. They would be on their private island. REITS stay under the radar and by law have to pay 90% of their profits to share holders in the form of dividends which are taxable at 15% unless re-invested compounding the return. The stock price itself usually does not move much but most I own pay about 12% per year. That doubles your money in 7 years unless dividends are re-invested which would lower that time frame.
I am no expert, but I'm pretty sure I know what I don't know. If the phrase in bold applied to me, I would be seeking out a well-regarded fee-based financial advisor. I am looking to retire in about five years, and by the end of this year I will have hired a financial advisor. I have done pretty well on my own, but I think as I transition closer to retirement, the firm I have in mind has the resources, expertise, and mindset to help me do the right things, and, as they like to say, help their clients avoid The Really Big Mistake. I was comfortable steering my own ship with the asset allocation of someone in his early 50s. An early 60s asset allocation is something entirely different.
Back in the day, networks would run movies one year after their theater releases, usually "edited for television." I was an impressionable young teen when this flick aired, and I maintain that very scene is largely responsible for my career in . . . plastics.
It's damn difficult to find a good one. We are on our 3rd advisor in the last decade and we finally have one that we like. Often the really high quality advisors won't talk to you unless you are an accredited investor.
Stock Market & Retirement Planning
Stock Market & Retirement Planning
This guy is an idiot!!! Nvidia down $38 today.
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Stock Market & Retirement Planning
This guy is an idiot!!! Nvidia down $38 today.
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Now might be the time to buy it?
I met with my financial advisor this week and we talked about Nvidia. He recommend passing on trying to lower my cost average. It can be hard to predict how far a stock will drop when it “breaks”. I still like Nvidia as a long term buy but will wait a bit to see what happens to the tech sector.
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Nvidia followed Friday’s loss by dropping $15 today. Should have bought a new set of clubs instead......
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I think Nvidia's meteoric rise in the past was solely from the crypto miner's rush to go out and purchase as many quality cards they could and not from other technologies that still may be a driver in the future. I'm personally sitting this one out due to all the unknowns.