Got my mind on my money, and my money on my mind

W

water

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Oct 29, 2004
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Kimie and I are starting to "grow up" and turn our finances around and are looking for some good, safe, and long-term investment ideas and tips.

I'm looking at opening a money market savings account to start tossing money into, I'm signing up for the company 401k (obviously), but what else is there?

We're not looking for anything terribly complex, risky, or spendy. Just some simple things we can start out on with limited funds to put in.

GO!
 
Well keep mind you guys are young. Starting out in aggressive funds can help you and while there is risk, it usually corrects itself quite well over time.
 
ChikkenNoodul said:
Eliminate any debt first and foremost.

The interest you gain on investments usually isn't as much as you lose on debt.

Company matching on 401k's should be taken advantage of though.
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We've got our debt-elimination all planned out and will hopefully have it gone in the next year or so IF things go well.

edit: Why can't I make money IRL like I make marklar here? :sadpanda:
 
diversify your funds

take half the money, put it in a big mayonnaise jar, bury it out in your backyard

take the other half down to the track and bet on the dog that does his business right 'fore the race starts
 
FlyNavy said:
diversify your funds

take half the money, put it in a big mayonnaise jar, bury it out in your backyard

take the other half down to the track and bet on the dog that does his business right 'fore the race starts
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Well obviously you choose that dog, he weighs less than the others at that point.
 
Jonny_B said:
Exchange Traded Funds and Real Estate.
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Real-Estate, as far as I know, takes money to work with or you have to float the costs on loans. Neither of which I'm ready to do at this point.

I've looked at stock trading and honestly I don't have a head for it, I just don't. At some point I'd like to hire someone to do such things for me for a percentage however.
 
paging fly to the thread. knyte, how much do i owe you for stealing the information you are asking for? :fly:

and what's considered young for an aggressive plan?
 
KNYTE said:
Real-Estate, as far as I know, takes money to work with or you have to float the costs on loans. Neither of which I'm ready to do at this point.

I've looked at stock trading and honestly I don't have a head for it, I just don't. At some point I'd like to hire someone to do such things for me for a percentage however.
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the nice thing about ETF's is that they are traded like stocks, but rather than having to choose a number of different stocks to spread your risk, you are buying a part of a fund which includes a pre-diversified basket of stocks. The simplest example is the ETF that maintains overall holdings representative of the S&P 500. It's called the Standard and Poors Depository Receipt, or SPDR, and nicknamed Spider. It's an example of an index ETF, as are ETF's that follow other common indexes like the Dow Jones Industrial Average. There are also ETF's that represent any number of specific criteria that essentially save you the research necessary to pick specific companies that meet your desired criteria.

It's basically like buying into a mutual fund without the fees or loss of flexibility iirc. However, I currently have no money to invest so I can't say how cool they are irl.
 
KNYTE said:
Real-Estate, as far as I know, takes money to work with
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Sell your children on the black market to build up a good starting fund, then crack into the real estate market with that. C'mon, they are just kids, you can always make more.
 
I would recommend sitting down with a financial adviser and work out what your budget and what your plans are
 
mikey said:
I would recommend sitting down with a financial adviser and work out what your budget and what your plans are
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Then you will have someone (Who is familiar with your plans) you can call in future with questions
 
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