Financial planning now that the world isn't ending? (page 2)

jaguarbass

Financial planning since Bush has become president is like being a JW.

Everything you knew before Bush became president is wrong.

The stock market hasn't made any gains in his 8 years in office.

Before that from Reagan to Clinton the market averaged 15% a year.

If your optomistic, you can hope the markets will recover when Obama gets elected.

If McCain gets elected you can forget your 401 K's and retiring in this lifetime.

Maybe consider moving to Costa Rica.

The best advice I can give you is the advice that was given to me and I followed it.

Before you enter the financial investment markets, stock market,

Pay your house off.

When your are debt free then you can put money in equitys.

That is the order of sound investment that I was told.

I havent had a house payment since I was 40.

The last year of Clintons presidency I made more money in the stock market than I make working full time today in Bush's economy.

If you want to know what directiton the market is in and whether you should be in stocks or cash, this is what you do.

I can tell you in the past 8 years the market has gone sideways, You would not have made money invested in the broad standard and poors 500 or the dow.

But to determine the direction of the market you add the closing number of the sp500 or the dow for the previous 39 weeks.

Then you divide it by 39 when the answer to that division is higer than this weeks close than the maket is on an upswing.

You can also use 15, 20, 30 weeks also to gauge.

My advice, if you dont own your home free and clear stay out of the markets.

That is a conservative approach.

If you have a crystal ball and big balls roll the dice.

If you knew when Bush was elected president you should be in oil and weapons, you probably have a crystal ball. But why are you asking then?

80's-90's the stock market was hot.

2000's real estate, oil, armements, Halburton.

The next big thing?

Tell me?

There's been a lot of good advice given here. The main thing is to think about your goals, think about what you want, and develop a plan for it. Pay yourself first -- pay into something that will grow for your future, then pay your debts next.

Having a certified financial planner (CFP) help you figure out your unique goals and how to achieve them may be a good step. Although it's done for a fee, usually it pays off because you have the discipline imposed by a plan, and someone usually more expert than you looking out for your interests.

I work for the country's #1 financial planning firm that I won't name, but it rhymes with Sha-mare-uh-prize.

oompa

First...you need a profile...and include your age at least!.....money advice is age critical. At the least....max out any employer offering at every chance. Secondly.....few people ever have enough money that work for someone else...........oompa

Octarine Prince

MBA in Finance and Entrepreneurship here.

I like everyone's info except one thing.

One part of GaryBuss' comment said find someone
who has it how you want it and do what they did.

I can't cosign that. People have different circumstances,
factors, risk tolerance, etc.

Following all of the other things that were mentioned
actually encapsulates the essence of your suggestion, though,
GB.

yknot

IRAs, Roths, Diversified Investments including varying risk stocks, mutual funds, real estate etc...

I always heard expect the big A anyday but plan like it ain't ever coming.....

Or I would hear......storing up treasurers in heaven doesn't mean leaving the silo half full!

Octarine Prince

Sha-mare-a-prize tried to recruit me.

I declined. I hope you are doing well with them, though.

Gopher

Hi Octarine Prince.

Actually I'm not a financial planner, but work as a contractor in their Insurance technology support area. I like it, and the company seems to be thriving even in difficult times -- maybe people look to get their financial ducks in a row during times like this.

Octarine Prince

Hell, yes.

If you survived Bush II with a piece of something, you sandbag it
and duct tape it to death, so you can keep it.

sinis

Haha, in the coming shit storm of financial Armegeddon - 401(k)'s and other funds will be gone...

LouBelle

It was compulsory at the company I started working at when I was 22 to get a retirement annuity - so I contributed to that for about 3 years - then when I started another job, withdrew it and bought myself a car. I immediately started another two R.As' privately. Last year opened up a 3rd one. Sure I'm paying R2000 a month but I know that when I turn 45, 55, 65 I'll be getting some big lump sums - though the 65 payment has a claus that I have to re-invest - which is fine by me. Next year I'll open up my 4th one with my current company as they contribute to the fund as well - it's free money. So I'm well looked after.

If you want to go into investing money on the stock market you need too 1. Do a lot of research and check out the various sectors - you also need to be prepared to lose money too, as it's not a guaranteed thing - however you can also make some great gains - I did this by investing in a construction company for about 8 months - I doubled my money - I took into account that 2010 was coming up, there was a need to build stadiums and contruction was in huge demand. If I stayed in a bit longer I could have made even more money. or 2. you could get an advisor, but they generally take a percentage of the money you make or you have to pay them.

That's my 2c

Financial planning now that the world isn't ending?

Share this