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View Full Version : Money Where do you have your money stashed?


Buehler445
03-22-2012, 06:13 PM
I'm self employed and most of everything I make goes into my business, but I feel compelled to get some money socked away outside of my business.

I have a 401(k) that I am in the process of rolling into an IRA with New York Life that I'm doing with a guy I know. I'm not at all convinced that a life insurance company is where I need to be putting all my money with.

I'm looking to start a Roth for me and my wife and maybe stick get some small mutual funds outside of retirement accounts. I may periodically get a stock or two to piddle with.

Anyway, I have no idea what are good companies to go with. I'd rather have one guy to go to, but it is not necessary, particularly if the fees are dramatically higher.

Where do you guys have your money stashed and do you like the service you're getting?

aturnis
03-22-2012, 06:14 PM
Sofa.

Buehler445
03-22-2012, 06:14 PM
Oh, and I have plenty of stock in AIDS trees and Antifreeze.

Buehler445
03-22-2012, 06:16 PM
Sofa.

If your couch turns up missing, don't come looking for me.

pr_capone
03-22-2012, 06:17 PM
Sofa.

Where? I've checked him thoroughly before and not found anything.

http://chiefsplanet.com/BB/member.php?u=10883

bevischief
03-22-2012, 06:18 PM
How much money do you have to start with? Stick with a fee-based investment advisory and asset management services firm.

SPchief
03-22-2012, 06:18 PM
A shoe box, duh

Lonewolf Ed
03-22-2012, 06:19 PM
I heard that Bulgaria has nice beachfront land for a good investment.

Kyle DeLexus
03-22-2012, 06:28 PM
4F4qzPbcFiA&feature

Detoxing
03-22-2012, 06:29 PM
In my anus.

Bowser
03-22-2012, 06:32 PM
In my anus.

Sweet, Detox just gave up his online password to his accounts.

mlyonsd
03-22-2012, 06:33 PM
Why worry about it? Send it to me and I'll manage it for you.

ClearmontChief
03-22-2012, 06:36 PM
401K from work, 15% of my salary with 3.5% company match. Investing in American Mutual Funds, US Stocks, Emerging Markets, and World funds. Very diversified in fund types, some Large Caps, some Mids, and some Small Caps.

An investment account with Fidelity Funds. Same kind of diversification.

An investment account a Wells Fargo, some safer Large Caps.

A traditional IRA for my wife with Fidelity Funds that I max and pull annually out of her investment account. A traditional IRA for myself, same.

A traditional IRA account for myself with Edward Jones from a Rollover from a previous employer.

Iowa 529 for each of my grandkids with a $100 monthly deposit.

I'm not concerned with multiple accounts and advisors, most everything has very low fees, and tax breaks.

Rain Man
03-22-2012, 06:36 PM
I have accounts with three brokerages.

Schwab. Seems good for mutual funds, and is good at helping you do portfolio balancing. I like Etrade's look and feel better, but if you're doing just a few mutual funds the Schwab site is very good.

Etrade. Seems good for stocks, and their stock selector works well for what I use it for. I like how they list your stocks and it's easy to use. Lousy at helping you do portfolio balancing.

Fidelity. I got this one for a small liquid savings account, and recall it having a good mutual fund selector. I never looked at anything in terms of stocks. Their web site has a pretty green color. When I opened this account I compared it to all of the other major sites besides Schwab and Etrade and thought it was best in terms of look, features, cost, etc.



As for fees and stuff, they're pretty much all the same. It's really more a matter of which interface you like better. And we'll never know which ones are stable and which ones are crooks and which ones are about to go bankrupt and steal all of our money, which is why I spread my money out.

ClearmontChief
03-22-2012, 06:38 PM
I'm pretty young yet, 49. Investing like my hair's on fire right now. Will mellow out in 10 years...for now, I'm buying like crazy during the down market, as much as I can afford.

Munson
03-22-2012, 06:59 PM
I started a Roth IRA with Edward Jones back in '08. I've got about 80% invested in a couple of mutual funds, and the remaining 20% in a few stocks. Its not worth a whole lot right now, but I plan on contributing more to it over the next few years.

Phobia
03-22-2012, 07:00 PM
What I do is make all my retirement decisions based on what kcnut tells me on ChiefsPlanet.

Buehler445
03-22-2012, 07:26 PM
401K from work, 15% of my salary with 3.5% company match. Investing in American Mutual Funds, US Stocks, Emerging Markets, and World funds. Very diversified in fund types, some Large Caps, some Mids, and some Small Caps.

An investment account with Fidelity Funds. Same kind of diversification.

An investment account a Wells Fargo, some safer Large Caps.

A traditional IRA for my wife with Fidelity Funds that I max and pull annually out of her investment account. A traditional IRA for myself, same.

A traditional IRA account for myself with Edward Jones from a Rollover from a previous employer.

Iowa 529 for each of my grandkids with a $100 monthly deposit.

I'm not concerned with multiple accounts and advisors, most everything has very low fees, and tax breaks.

Why not start a Roth?

Which do you like better for service?

Buehler445
03-22-2012, 07:26 PM
I have accounts with three brokerages.

Schwab. Seems good for mutual funds, and is good at helping you do portfolio balancing. I like Etrade's look and feel better, but if you're doing just a few mutual funds the Schwab site is very good.

Etrade. Seems good for stocks, and their stock selector works well for what I use it for. I like how they list your stocks and it's easy to use. Lousy at helping you do portfolio balancing.

Fidelity. I got this one for a small liquid savings account, and recall it having a good mutual fund selector. I never looked at anything in terms of stocks. Their web site has a pretty green color. When I opened this account I compared it to all of the other major sites besides Schwab and Etrade and thought it was best in terms of look, features, cost, etc.



As for fees and stuff, they're pretty much all the same. It's really more a matter of which interface you like better. And we'll never know which ones are stable and which ones are crooks and which ones are about to go bankrupt and steal all of our money, which is why I spread my money out.

Thanks.

seclark
03-22-2012, 07:33 PM
401K from work, 15% of my salary with 3.5% company match. .

kinda the other way around for me...3.5% from me, 15% company. don't pay too much attention about where it's invested. wife takes car of that. i've said it before...gimme a few beers and a can of chew and i'm sound. i've got other things to worry about. it's time to star mowing the fuckin yard.
sec

Psyko Tek
03-22-2012, 07:33 PM
I got $16 in my wallet, and I think 1/2 tank of gas

I plan to die before retiring...
so investments would be a waste of beer money

ClearmontChief
03-22-2012, 07:33 PM
Why not start a Roth?

Which do you like better for service?

The Edward Jones guy. He's set up my company 401K into the American Funds, the rollover into my Jones account and the Iowa 529 accounts. He's helped me set things up, basically as a fascillator as I've got a pretty good handle on it.

Wells Fargo sucks, take out annual fee and haven't advised me on shit.

Used to like the Fidelity guy...but, he's never been terrible helpful.

Why not a Roth? I want the tax break now from what I invest. I figure, when I retire and start drawing, I'll have zero salary...and, can stand to pay the taxes then. I'll have 401K, IRA, Social Security, Military retirement, and VA disability payment...But, that will be 60-80K yearly and I can handle the income tax on the Capitol Gain then.

hometeam
03-22-2012, 07:35 PM
My money is tied up in positive equity in items that lose equity over time.(with this market that includes my house~) Bad idea I suppose. On the other hand, any time I need cash I just liquidate a motorcycle or car and cash appears.

chefs fan in omaha
03-22-2012, 07:35 PM
Berkshire Hathaway, best mutual fund you can get without all the fees

hometeam
03-22-2012, 07:35 PM
kinda the other way around for me...3.5% from me, 15% company. don't pay too much attention about where it's invested. wife takes car of that. i've said it before...gimme a few beers and a can of chew and i'm sound. i've got other things to worry about. it's time to star mowing the ****in yard.
sec

15% match is nice!

seclark
03-22-2012, 07:38 PM
15% match is nice!

yeah, but i'm worth it...fuckem.
sec

KCrockaholic
03-22-2012, 07:41 PM
In a plastic baggy by my mini fridge. It's working out really well.

crispystl420
03-22-2012, 07:46 PM
What I do is make all my retirement decisions based on what kcnut tells me on ChiefsPlanet.

Bulletproof. Make sure he writes the wording for any contractual negotiations as well.

Pooch
03-22-2012, 07:48 PM
Besides my Roth 401k though work, I have been investing a lot in gold and silver!! Manly pre 1964 coins!!

-King-
03-22-2012, 07:50 PM
<a href="http://www.sodahead.com/living/do-you-think-people-will-begin-using-their-mattress-as-their-bank/question-2054443/?link=ibaf&imgurl=http://emprendedorenred.com/wp-content/uploads/2010/10/Money-Under-the-Mattress-746.jpg&q="><img src="http://emprendedorenred.com/wp-content/uploads/2010/10/Money-Under-the-Mattress-746.jpg"><br> pics on Sodahead</a>

Bacon Cheeseburger
03-22-2012, 08:03 PM
I have some loose change in the ashtray of my truck.

Shogun
03-22-2012, 08:03 PM
In a book about the yankees. nobody ever touches it in my house, its in plain sight too

threebag02
03-22-2012, 08:06 PM
Whores and Bitches

RJ
03-22-2012, 08:13 PM
Right now I have most of my liquid assets in a 5 gallon jug. Last week I called an investment advisor and asked him to come to my house to discuss moving some funds around. I'm glad I did because that change jug was getting pretty damn heavy. Together we were able to move it from my bedroom to the walk-in closet. My wife is pretty happy about that.

Let me know if you have any other financial questions, Buehler. I'm becoming quite savvy with this stuff. Stronger, too.

Phobia
03-22-2012, 08:14 PM
Berkshire Hathaway, best mutual fund you can get without all the fees

This must be sound advice. You have "omaha" in your u/n, just like Mutual of...

BIG_DADDY
03-22-2012, 08:19 PM
HOw much money? Insurance dudes are the worst and brokers are not going to take care of anyone they are not making decent money off of if they even have the ability to in this new global market. You might want to keep your powder dry at least till the end of the summer but this is a very complicated subject that almost nobody you will meet here can help you with.

tredadda
03-22-2012, 08:28 PM
Thrift Savings Plan, Roth Ira, and different stocks

HoneyBadger
03-22-2012, 08:31 PM
I invested all my money in the Green Bay Packer's stocks. I hope they turn me a nice profit.........

phillip
03-22-2012, 08:33 PM
I max out my 401(k) plus I get 3% from my employer.

Right now, I'm not doing anything other than that. I didn't even pick the risk allocation or whatever it asked for. I just let everything be whatever the default is.

Basically I have no idea what I'm doing.

Kyle DeLexus
03-22-2012, 08:37 PM
I invested all my money in the Green Bay Packer's stocks. I hope they turn me a nice profit.........

And if they don't you own an NFL team.

HoneyBadger
03-22-2012, 08:38 PM
And if they don't you own an NFL team.

One that actually knows how to win a Super Bowl

BIG_DADDY
03-22-2012, 08:38 PM
What you are asking primarily is for unqualified people to do is give you financial advice not knowing the details of your situation which is a recipe for disaster. Moving assets to a tax deferred status is obviously a smart move and if you own a home having a fixed rate should be of ultimate concern for obvious reasons. Not knowing the details of your situation though is a major problem. My guess off the top of my head is you need a CFP who seriously has his shit together rather than some insurance schmuck.

Braincase
03-22-2012, 08:56 PM
Ooooh. Let's start a thread where no one in their right mind would give an honest answer.

Shox
03-22-2012, 09:06 PM
I work in the investment industry. I would caution you against jumping into a lot New York Life products.

BIG_DADDY
03-22-2012, 09:09 PM
I work in the investment industry. I would caution you against jumping into a lot New York Life products.

you think?

listopencil
03-22-2012, 09:14 PM
What I do is make all my retirement decisions based on what kcnut tells me on ChiefsPlanet.

Me too. Can I live in your car when I'm old?

HoneyBadger
03-22-2012, 09:24 PM
I work in the investment industry. I would caution you against jumping into a lot New York Life products.

You must work for a rival company...

BIG_DADDY
03-22-2012, 09:39 PM
You must work for a rival company...

It's a two step process, first you must have a an infrastructure that makes sense for you given your situation (CFP) for most people. Once that is in place then you need to have the right strategy and product. Insurance companies are not the right place to get started. If you want to make a good living bamboozling crusteez by hoodwinking them into annuities products that pay massive commissions it might be a good place to start if you have no ethics.

HoneyBadger
03-22-2012, 09:40 PM
It's a two step process, first you must have a an infrastructure that makes sense for you given your situation (CFP) for most people. Once that is in place then you need to have the right strategy and product. Insurance companies are not the right place to get started. If you want to make a good living bamboozling crusteez by hoodwinking them into annuities products that pay massive commissions it might be a good place to start if you have no ethics.

I'll read this at a later time, when I can comprehend it. I have my money stashed in the cash register at BevMo.

Buehler445
03-22-2012, 10:04 PM
The Edward Jones guy. He's set up my company 401K into the American Funds, the rollover into my Jones account and the Iowa 529 accounts. He's helped me set things up, basically as a fascillator as I've got a pretty good handle on it.

Wells Fargo sucks, take out annual fee and haven't advised me on shit.

Used to like the Fidelity guy...but, he's never been terrible helpful.

Why not a Roth? I want the tax break now from what I invest. I figure, when I retire and start drawing, I'll have zero salary...and, can stand to pay the taxes then. I'll have 401K, IRA, Social Security, Military retirement, and VA disability payment...But, that will be 60-80K yearly and I can handle the income tax on the Capitol Gain then.

All of that will be taxable (except maybe the disability IDK). If you're maxing out traditional IRAs, then I would urge you to consider roths.

Besides my Roth 401k though work, I have been investing a lot in gold and silver!! Manly pre 1964 coins!!

I have enough exposure to commodity markets.

I have some loose change in the ashtray of my truck.

Can I have it?

HOw much money? Insurance dudes are the worst and brokers are not going to take care of anyone they are not making decent money off of if they even have the ability to in this new global market. You might want to keep your powder dry at least till the end of the summer but this is a very complicated subject that almost nobody you will meet here can help you with.

Not much. My Cabela's 401(k) is like 12K. And like I said, most of my money goes into my business. Hopefully I can work it into all the retirement I need, but I'm trying to diversity up some.

The NY Life guy is the only guy I know doing this stuff. I understand that these guys sell insurance, and offer IRAs as a sideline deal. I figured I'd roll it there and see how it goes. I hadn't done anything with it in the 2.5 years since I left. If I don't like it, I can roll it somewhere else.

What you are asking primarily is for unqualified people to do is give you financial advice not knowing the details of your situation which is a recipe for disaster. Moving assets to a tax deferred status is obviously a smart move and if you own a home having a fixed rate should be of ultimate concern for obvious reasons. Not knowing the details of your situation though is a major problem. My guess off the top of my head is you need a CFP who seriously has his shit together rather than some insurance schmuck.

I'm not asking for tax planning here, dude. I'm just looking for some companies to go to, maybe more so, which ones to avoid. At this point, I'm not talking about enough money to justify a CFP unless he's going to help me with my business. However if you have the name of one, PM me and I'll give him a shout.

BIG_DADDY
03-22-2012, 10:27 PM
All of that will be taxable (except maybe the disability IDK). If you're maxing out traditional IRAs, then I would urge you to consider roths.



I have enough exposure to commodity markets.



Can I have it?



Not much. My Cabela's 401(k) is like 12K. And like I said, most of my money goes into my business. Hopefully I can work it into all the retirement I need, but I'm trying to diversity up some.

The NY Life guy is the only guy I know doing this stuff. I understand that these guys sell insurance, and offer IRAs as a sideline deal. I figured I'd roll it there and see how it goes. I hadn't done anything with it in the 2.5 years since I left. If I don't like it, I can roll it somewhere else.



I'm not asking for tax planning here, dude. I'm just looking for some companies to go to, maybe more so, which ones to avoid. At this point, I'm not talking about enough money to justify a CFP unless he's going to help me with my business. However if you have the name of one, PM me and I'll give him a shout.

Not a CPA a CFP. Certified Financial Planner (not my MO). For a small fee he will help you figure out an analytically based infrastruture to place your extra cash to avoid taxation. They will also cover other important areas like getting the right aggressive CPA being you are a business owner and setting up your trust and the right level of insurance ect. You need to get this area of your life figured out sytematically and like I said before make sure if you own a home you have a fixed rate and having dry powder with your investments at this time is not a bad thing even if that doesn't prove out in the short run.

DeniseM
04-02-2012, 04:17 AM
If you don't already have a Roth, then yes, permanent life insurance instruments may turn out being an unwise investment for you. You'll be better off with a cheap term life insurance policy online for life insurance protection. However, whole and permanent lives have been working out for some people looking for safe investment options. The rate of growth is staggeringly slow in the first decade and there won't be any rewards for early surrender or withdrawal, but in the long run, it does end up being a stolid investment to rely on.

Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.

KCtotheSB
04-02-2012, 04:47 AM
Coffee can under the kitchen sink. I keep my birth certificate and SSN card in the crisper drawer of the fridge.

DaKCMan AP
04-02-2012, 05:21 AM
I max out my 401(k) plus I get 3% from my employer.

Right now, I'm not doing anything other than that. I didn't even pick the risk allocation or whatever it asked for. I just let everything be whatever the default is.

Basically I have no idea what I'm doing.

http://farm5.staticflickr.com/4061/4669812732_5407c2534c_z.jpg

BoneKrusher
04-02-2012, 06:02 AM
mine is in a Folgers Coffee can near an Aids tree in my backyard.

Buehler445
04-02-2012, 06:48 PM
If you don't already have a Roth, then yes, permanent life insurance instruments may turn out being an unwise investment for you. You'll be better off with a cheap term life insurance policy online for life insurance protection. However, whole and permanent lives have been working out for some people looking for safe investment options. The rate of growth is staggeringly slow in the first decade and there won't be any rewards for early surrender or withdrawal, but in the long run, it does end up being a stolid investment to rely on.

Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.

I'm not buying life insurance. I'm thinking about rolling it into an IRA.