Investing

[sonofmayhem]

Is there a good website to help explain all the terms?

What kind of investing are folks doing these days with the economy we live in?

I would like to be able to make some extra cash with my money. Right now i am using an ING savings account and love it. But I would like to put the "sitting money" into action to see a faster cash flow.


thx

[sonofmayhem]

I also have a good idea of what I want to retire on, and have (what I think) a good idea of what to save.

[supremebeholder]

FNCE 220 at UCCS. It is a 3 credit hour class devoted to personal finance planning. That would be ~2.5 hours a week of lecture for 15 or 16 weeks, and you could probably sign up to audit it for less money and no credit.

You might also check to see if some other local colleges have a similar but less involved class.

[sonofmayhem]

Oooooo.... Maybe a possibility.

[shotgunchris]

The more you learn the better off you will be. Read as much as you can, books, magazines, etc. Go to workshops or classes.

Start with a solid foundation, Emergency Fund, Savings Account. Then start funding a retirement account, 401K (if available), Roth IRA or Traditional IRA, investing in No-load Mutual Funds (look at low cost or Index Funds).

I would also look at funding a non-Tax Deferred account. Use this for mid-range planning, like buying a house.

Good luck and remember, slow and steady wins the race.

[pluto]

Hey i am a Trader I went to college for finance and I would say it would be well worth your time to read all of Jim Cramers Investing books. Open up an Ameritrade account and make your own money...Try watching Mad Money on CNBC at 4 and 9. You will be suprised what you can do. As for a personal 200 level finance class, go buy the book and read up on it. Crammer can teach you a ton though.......

[MinesJeep]

I have a couple personal finance books your welcome to borrow as well. Cramer is good advice especially about how to invest. His stock picks perform pretty well, but you should take his principles to heart.

[sonofmayhem]

http://www.amazon.com/Mad-Money-Jim-Cramer-Basics/dp/B000NDECDU/ref=pd_bbs_sr_5?ie=UTF8&s=dvd&qid=1203901220&sr=8-5

Would this be a good first choice?

[pluto]

If I were you I would read all of them in order, maybe grab a personal finance text, I am not big on taking stock picks from anyone, but you have to get ideas from somewhere. I would think sectors then narrow it down to individual companies.

[sonofmayhem]

I was thinking about mutual funds in energy or something. Right now I am trying to get caught up on the economy "issue" and what is selling and not, trends, etc.

[pluto]

Personally I do not like mutual funds, but if you do not have much time to mess with it they will work for you. Try researching some funds you like then pick out some individual stocks you like in the same sector, follow them while you read some books on investing and see who outperforms who. It sounds like you have money or a plan for retirement, so take this money you have in a savings account, call it your speculative cash and take some risks with it.

[Budman]

Best investing/saving advice I have read in a while (http://www.savingadvice.com/blog/2006/10/30/10933_beer-calculator-10-ways-to-save-on-beer.html)

[denverd0n]

First and foremost, if your employer has a 401k program with matching contributions, you really MUST put in enough money to get the full company match. I have read studies that say that something like 2/3rds of Americans who have such a program available do not contribute enough to get the full match. That is just plain STUPID!!! That is just leaving money on the table! That is so DUMB that there just aren't words for it!

So, start there.

Second, understand that NOBODY really knows what is the best stock to buy, or what is going to be the next hot sector. They're all just guessing, and every year a few guess right (with thousands upon thousands of them out there making guesses it would be amazing if every year a few DIDN'T guess right!). The single possible exception might be Warren Buffett, who is right consistently enough to think maybe he really knows, but he hasn't written any books and isn't selling a newsletter. The main thing to note, though, is that the guys who are selling advice are making their money by SELLING ADVICE! In other words, they aren't making their money by actually taking their own advice. Think about that.

Finally, I think some of the best general financial advice out there right now comes from a South-Florida columnist by the name of Humberto Cruz. Here's a link to his "top ten rules." http://tinyurl.com/ytqsxj ... and another to twenty recommendations http://tinyurl.com/yrr6hp You can find a high-level link to his columns here... http://www.sun-sentinel.com/business/columnists/ He is semi-retired, but writes a column now every month or so. I check that website every couple of weeks looking for his latest column.

[Trango]

I'd PM Xtremjeepn-Cole Ford on the board. He is a Financial Advisor with a proven track record.

[jnschwie]

Sell porkbellies!
Buy Gold!

[MinesJeep]

Orange Juice, Mortimer,Orange Juice

[Pilot]

Is there a good website to help explain all the terms?

What kind of investing are folks doing these days with the economy we live in?

I would like to be able to make some extra cash with my money. Right now i am using an ING savings account and love it. But I would like to put the "sitting money" into action to see a faster cash flow.


Here are a couple of good sights that give good info.

http://www.smartmoney.com

http://www.thestreet.com

What are you investing for? What are your goals? Retirement? Building a downpayment for a house, etc? You have to set objectives in order to determine your time frame for the investment.

[sonofmayhem]

I would like to build a retirement plan, But also I would like to put my "savings" into work... I had a plan to save around 2k a year(I am only 19) till I am 29. Then let it sit.

I haven't been at my current employer long enough to recieve 401k, but it is excellent, from what I hear.

Thanks for the advice, I guess I need to read up on terms, plans, and find out what my goals really are.

thx.

[MinesJeep]

Don't ever stop, and start as early as you can. Not sure if your familiar with how interest works but the more you put away now the less you have to save in total.

[Pilot]

I would like to build a retirement plan, But also I would like to put my "savings" into work... I had a plan to save around 2k a year(I am only 19) till I am 29. Then let it sit.

I haven't been at my current employer long enough to recieve 401k, but it is excellent, from what I hear.


Excellent! At 19 you have enabled yourself to take full advantage of THE TIME VALUE OF MONEY. Many people refer to this as compounding interest. If you run calculations time is much more powerful a factor than typical interest rates (rates of return) for many investments.

Vanguard and many other mutual fund firms have good info and a good selection of funds. At your age, and with your time frame, you can afford to be a little aggressive, not reckless, but agressive. Personally, I like a mix of S&P 500 (large companies), medium and small company mutual funds. If your appetite for risk is less, there are bond funds and blended stock and bond funds that less volatile. Read, research and if you can take some economics, finance and investing courses.

http://www.vanguard.com

[Xtremjeepn-Cole Ford]

. The main thing to note, though, is that the guys who are selling advice are making their money by SELLING ADVICE! In other words, they aren't making their money by actually taking their own advice. Think about that.

.


That is the the worst thing you have said so far.


Think about this. Just because someone is very good at investing money does not mean they were born with enough of it to instantly retire:shrug: So maybe....just maybe they need a job selling what they know about to help others:shrug:

"Investing" takes time. "Speculating" is the guessing game you are talking about. BIG difference.


While loads and other associated costs are a good factor to look at, but keep in mind that sometimes you get what you pay for. Many advisors have accounts where you can not pay the loads (front or back). You simply pay a % of the total assests for the ability to move in and out of any fund/stock/bond etc without costs AND FOR ADVICE! It gives you MORE options than you have on your own and typically with lower costs when compared to the real end result.


(.....and thanks Bob)

[Slacker]

There are a lot of good retirement calculators online. Most have you enter in how much you are investing, what growth rate you think you'll get, and how long you'll have it invested (that's the biggie). Amazing what will happen if you start young and have time on your side. And don't stop when you're 30....keep going!

And 401K's are the greatest!!!!! FREE MONEY!!!!

[j5]

That is the the worst thing you have said so far.


Think about this. Just because someone is very good at investing money does not mean they were born with enough of it to instantly retire:shrug: So maybe....just maybe they need a job selling what they know about to help others:shrug:

"Investing" takes time. "Speculating" is the guessing game you are talking about. BIG difference.



Good advice. I like to think of it this way - If they get paid based on what I make on a return on investment then it's in their best interest to get me the best return possible. Their full time job is looking at investments.

[sonofmayhem]

I think when i get older I will be able to save more, but it all depends on my job, family, etc. Thinking about growing up sucks. Being able to provide your family with everything they need, clothes, food, insurance, then College, their first car....It adds up quick. No wonder so much of the world is in debt. I hate not owning things out right though. Just an issue of mines:D

[ScaldedDog]

I hate not owning things out right though. Just an issue of mines:D

You will do well in this life.

Mark