Emissary wrote:Tone Deft wrote:what's fucked up is that financial education is not part of the basic curriculum in schools in any country. there are some seriously scary naive ideas in this thread.
if you don't know what you're doing, pay someone to teach you. the 2nd worst thing you can do is have some fool handle your money, chances are, you're that fool. the 1st worst thing you can do is panic.
recognize what kind of investor you are, short or long term. understand your investment's risk and return. wait and let compound interest do its thing. nobody sells at the peak, nobody buys at the lowest, there is no single winning formula.
money can buy happiness, it can fuck with your head and make you feel bad. want money to make you happy? understand it and don't let every dumbshit Chicken Little like Emissary and Fox News make you panic.
Yeah, i'm the dumbshit, thats right. Your a frigging gumtard, People like you are the reason we are in this shit. Overconfident, Ignorant arse mungers with a warped perception of reality, a huge god complex and a frigging brain thats made from tea towels and piss.
you like to watch people argue. you like to get people riled up, that's really fucked up. just about all of your posts are about doom and gloom, completely unfounded Chicken Little bullshit. you're the forum doom and gloom guy, fine, that doesn't come without some backlash, grow a pair, ya pussy.
yeah, blame the problem on me, what a simpleton.
I was wrong to call you a dumbshit, but you're filling those shoes nicely. people like me?? you don't know me, please do tell me more.
btw why is your life so fucked up that it's all doom and gloom? it sounds like your world is really fucked up, what's wrong?
mikemc - what I would do is go to a financial advisor, NOT one that has something to sell you, not one from an investment firm, unless you find one you like. I would explain to them your financial goals, what your investments and hear what they have to say.
I do 401(k), it's that or a Roth IRA, it depends on where you want to pay taxes. what the details are, I don't sweat, that's money making me unhappy. pre-Bush an IRA would make more sense, these days it depends on when you think the recession might start to recover. if I was worried, I'd ask a professional a friend that had been through it. I've kept my 401k at the highest risk/highest yield option (emerging technologies) through thick and thin, when I get closer to retirement I'll change that to bonds and lower yield higher risk investments. my company does employer matching up to 6% I think, so I do that, to do less is losing money, to do more isn't gaining you much.
social security - nobody looks at that, I've known for a long time not to count on that money, it's another tax on my paycheck.
fundamentally there is no guarantee on money, FFS American money says "In god we trust"!! it's a promissory note on money that doesn't actually exist. it's really all bullshit, I can't expect Emissary to get past it, but the system works, it can crash, then rules are put in place from those lessons, but the overall trend of the financial markets is an upward slope. time and patience and FFS don't be reactionary, make a game plan and stick with it. shit, it's the same as playing craps, scare money don't make money, be cool.
the one thing I've learned in hiring a financial adviser is that it really makes me sick, that's why the rich get richer and the poor don't. if you don't understand compound interest, you're fucked. if you don't know what a tax write off is, you're losing an advantage. all those people that got zero down loans with adjustable rates, what if they had someone actually run the numbers and scenarios for them? nope, instead they fell prey to some really sleazy finance guys.
