Money Investing megathread extravaganza - Page 171

**DaFace** · 06:35 PM

A place to talk about investing stuff.

ChiliConCarnage · 12-23-2018, 10:05 AM

Quote:

Originally Posted by DaFace

Meh. We boring investors are here too. It's just boring, so there's not near as much to talk about.

We get to put 6,000 into IRA's at the start of the year so I guess this was timed well at least? Straining for any upside

It looks like we have a really good shot to finish as the 2nd worst December in history. 1930 was down 7.x%. We're currently down 12.x% so we'd need quite a recovery in the last few days. 1931 was down 14.x% so it's actually within reach.

Pulling out a single month is a bit arbitrary but I think it's sort of amazing we're on pace to finish sandwiched between two years of the great depression.

O.city · 12-23-2018, 10:28 AM

Hamas, I’m no expert on this by any means but I was in a similar spot with loans and such.

I would recommend paying as much as you can towards the debt repayment as you can. Don’t forget about retirement obviously, but getting out from under that will help alot

Hog's Gone Fishin · 12-23-2018, 10:41 AM

Quote:

Originally Posted by TwistedChief

Yeah, but man, there's a lot of mediocrity who are paid a lot of money and spend every single moment of every day trying to find opportunities in the market and cannot consistently do so. Are most prepared to invest their time and do the same? Probably not. And so, just being average is super acceptable.

I'm a portfolio manager at a hedge fund. I get it. There are 4 people in my world I know outside of myself that I would ever entrust money to, and I know thousands.

Well then

How about a list of 5 stocks to invest in this January.

TwistedChief · 12-23-2018, 10:58 AM

Quote:

Originally Posted by Hog's Gone Fishin

Well then

How about a list of 5 stocks to invest in this January.

I don’t trade stocks - sorry.

'Hamas' Jenkins · 12-23-2018, 10:59 AM

Quote:

Originally Posted by O.city

Hamas, I’m no expert on this by any means but I was in a similar spot with loans and such.

I would recommend paying as much as you can towards the debt repayment as you can. Don’t forget about retirement obviously, but getting out from under that will help alot

Agreed.

**DaFace** · 12-23-2018, 11:02 AM

Quote:

Originally Posted by 'Hamas' Jenkins

Agreed.

Yeah, do what you need to do to get the company match, but beyond that, debt reduction is your main priority for the near term.

ChiliConCarnage · 12-23-2018, 11:26 AM

Quote:

Originally Posted by 'Hamas' Jenkins

Agreed.

I hate debt; It feels like a huge weight youre under and stresses me a bit. From a strict numbers perspective it probably depends on the rates on your loans.

Either way, congrats. It's a lot of money to pay back but seems to have provided you with a great career.

O.city · 12-23-2018, 11:29 AM

Those fed loans are a real pain in the ass at 7.2 percent.

I went them a private bank and re did them once I had my office paid for and got the rate a lot lower.

**lewdog** · 12-23-2018, 02:13 PM

Quote:

Originally Posted by O.city

Hamas, I’m no expert on this by any means but I was in a similar spot with loans and such.

I would recommend paying as much as you can towards the debt repayment as you can. Don’t forget about retirement obviously, but getting out from under that will help alot

Quote:

Originally Posted by DaFace

Yeah, do what you need to do to get the company match, but beyond that, debt reduction is your main priority for the near term.

Congrats Hamas by the way.

And this is basically it. Don't pass up any free money so do the minimum contribution to get all the free money, so 5%.

After that, tackle debt. If you have any credit card debt, I'd start there. After that, work on the student loans and possibly refinancing them to a lower rate if you're able (not sure what you're paying).

I had $60k debt after my schooling so I only contributed 4-6% to my 401k (to get the entire free match) until I paid off my student loans last year. Now I do 12% to my 401k and it's barely noticeable out of my take-home with the loans now gone, even leaving money left over to contribute to a ROTH IRA each month.

Hopefully your employer offers cost effective index funds for your retirement plan. I am invested in only Index funds alone in my 401k (Large, small and foreign). Many companies finally offer low cost index funds, but there are still some hold-overs of employers who offer expensive and less than ideal retirement funds. Let us know your choices when you get that info.

Coach · 12-24-2018, 12:31 PM

Ugh. Definitely a Bear market.

I feel bad for the folks who are about to be retiring. Thank god my father retired just in time.

**Rain Man** · 12-26-2018, 03:59 PM

I wish every day could be like today.

If we had 26 straight days like today, I could retire at my current quality of life. If we has 40 straight days like today, I'd live a life of leisure and semi-luxury. If we had a year of days like this, I'd buy the Chiefs and make fun of Bill Gates' cheap wardrobe.

**Munson** · 12-26-2018, 04:04 PM

Quote:

Originally Posted by Rain Man

I wish every day could be like today.

This.

I just checked my Roth IRA account, and it's the biggest single day increase I've ever had!

Makes me feel better after getting hosed the past couple weeks.

Hog's Gone Fishin · 12-26-2018, 06:05 PM

Quote:

Originally Posted by Rain Man

I wish every day could be like today.

If we had 26 straight days like today, I could retire at my current quality of life. If we has 40 straight days like today, I'd live a life of leisure and semi-luxury. If we had a year of days like this, I'd buy the Chiefs and make fun of Bill Gates' cheap wardrobe.

Wouldn't that be great! and I could buy a bigger boat.

scho63 · 12-26-2018, 06:22 PM

Quote:

Originally Posted by lewdog

Congrats Hamas by the way.

And this is basically it. Don't pass up any free money so do the minimum contribution to get all the free money, so 5%.

After that, tackle debt. If you have any credit card debt, I'd start there. After that, work on the student loans and possibly refinancing them to a lower rate if you're able (not sure what you're paying).

I had $60k debt after my schooling so I only contributed 4-6% to my 401k (to get the entire free match) until I paid off my student loans last year. Now I do 12% to my 401k and it's barely noticeable out of my take-home with the loans now gone, even leaving money left over to contribute to a ROTH IRA each month.

Hopefully your employer offers cost effective index funds for your retirement plan. I am invested in only Index funds alone in my 401k (Large, small and foreign). Many companies finally offer low cost index funds, but there are still some hold-overs of employers who offer expensive and less than ideal retirement funds. Let us know your choices when you get that info.

You enjoy this and give pretty solid advice. Ever think of taking CPA classes and hanging up a shingle on the weekends as a CFP?

**lewdog** · 12-26-2018, 07:46 PM

Quote:

Originally Posted by scho63

You enjoy this and give pretty solid advice. Ever think of taking CPA classes and hanging up a shingle on the weekends as a CFP?

Hey not a bad thought!

For now if I want to make extra money, I'm doing the hourly therapy gig at a different building if they need help. Since it's PRN work, the pay is very good and I just tell them how many hours I can help on that day. Like tomorrow I'll go down the road to a different facility for about 90 minutes of work after my normal job. For me right now, time is money, so if I am going to do something outside of work, I want it to pay well.

But I do understand the thought of doing something totally unrelated for a second job and how that can be rewarding as well. You never know what the future may bring!

06-27-2016, 11:23 AM
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $2046899	Investing megathread extravaganza A place to talk about investing stuff. Last edited by DaFace; 02-19-2021 at 06:35 PM..
Posts: 51,762

12-23-2018, 10:28 AM	#2552
O.city In Search of a Life Join Date: Jul 2009 Casino cash: $2764064	Hamas, I’m no expert on this by any means but I was in a similar spot with loans and such. I would recommend paying as much as you can towards the debt repayment as you can. Don’t forget about retirement obviously, but getting out from under that will help alot
Posts: 81,234

12-23-2018, 11:29 AM	#2558
O.city In Search of a Life Join Date: Jul 2009 Casino cash: $2764064	Those fed loans are a real pain in the ass at 7.2 percent. I went them a private bank and re did them once I had my office paid for and got the rate a lot lower.
Posts: 81,234

12-24-2018, 12:31 PM	#2560
Coach Champs! Join Date: Mar 2004 Location: Kansas City Casino cash: $5968476	Ugh. Definitely a Bear market. I feel bad for the folks who are about to be retiring. Thank god my father retired just in time. __________________ Super Bowl IV, LIV, LVII & LVIII Champions 2020, 2021, 2023, & 2024 AFC Champions 1985 & 2015 Major League Baseball World Series Champions 1980, 1985, 2014, & 2015 Major League Baseball American League Champions 2015 American League Central Division Champs
Posts: 53,200

12-26-2018, 03:59 PM	#2561
Rain Man NFL's #1 Ermines Fan Join Date: Jul 2001 Location: My house Casino cash: $3338491 VARSITY	I wish every day could be like today. If we had 26 straight days like today, I could retire at my current quality of life. If we has 40 straight days like today, I'd live a life of leisure and semi-luxury. If we had a year of days like this, I'd buy the Chiefs and make fun of Bill Gates' cheap wardrobe. Attached Thumbnails __________________ I'm putting random letters here as a celebration of free speech: xigrakgrah misorojeq rkemeseit. Last edited by Rain Man; 12-26-2018 at 04:06 PM..
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