How many of you invest?

[Brute 23]

I'm sure there are some good Edward Jones people out there. Its just best if you know how they operate. If you are educated and not letting them make all the decisions you can safe guard against their games.

Smart moves Brute. As for "tax writeoffs", I'm a taxman and my advice when a client asks about them is "You can't eat tax writeoffs". Keep your money. Many times a person is better off paying 15-25% in taxes then losing 100% in an unused deduction.

Ya it makes no sense. Go pay John Deere 100% to keep from paying Uncle Sam 25%. :shock:

 

[backhoeboogie]

I play. Also in bonds. Both 401K and personal savings. I am somewhere around 50% in equity. I have little confidence in the current admin so most of my portfolio is extremely conservative.

 

[Caustic Burno]

I'm sure there are some good Edward Jones people out there. Its just best if you know how they operate. If you are educated and not letting them make all the decisions you can safe guard against their games.

Smart moves Brute. As for "tax writeoffs", I'm a taxman and my advice when a client asks about them is "You can't eat tax writeoffs". Keep your money. Many times a person is better off paying 15-25% in taxes then losing 100% in an unused deduction.

Ya it makes no sense. Go pay John Deere 100% to keep from paying Uncle Sam 25%. :shock:

Loser everytime to the bank account buying farm equipment for write off .

 

[Ol' 243]

This may sound crazy to some, but I only invest my money in something that I know something about and can have the deed, title or product in hand. The profits I either have available in on hand cash, or put back into something I can control. I don't trust some sumbeotch in New York with my money.

 

[TexasBred]

All investment is at risk even land I have seen that blow up several times in my lifetime.
I made a bundle in Fannie Maes and Ginnie Maes financial planner told me to bail in 06 and roll over in bonds.
No matter what you invest in it is still controlled by Wall Street from cattle,land, or stocks and bonds.
The economy is controlled from there.

Good thing about Fannie Maes and Ginnie Maes is that regardless of what the market does you will always get your stated rate plus amortization of the principal.

I'm invested but I use a broker and have used the same one for many years. I do what he says when he says do it. Sometimes we lose but not as much as we could have...sometimes we make money but seldom as much as the ones who like to talk about it. He's pretty conservative and that suits me.

 

[bball]

How do you go about your homework? I assume that in this day and time, it is web-based. What sites do you use?

Hero,
Too many to list .Most people will get list of Top Ten or 50 or 100 and try to pick the best. I never use those lists. I try to stay abreast of the markets and what is happening around the world. When I spot a company that grabs my attention, I research that company.I don't care if it is on a list or not. If the current info on it meets my criteria, I then go back 3-5 yrs and study the history see what others are predicting for the future. Then I make my decision to invest or move on. This is a lot of work and takes time that most don't want to do. That is why most pay someone else to make those decisions for them.

This is an excellent post...it's also the reason that when info about any stock or company hits mainstream media sources- you're already too late. Got to be ahead of the curve and understand that means lot of time and research

Edit to add: sorry vett, I should have kept reading down the posts before posting. We agree.

 

[herofan]

Do any of you keep much available cash in a checking or savings account beyond what you typically use plus a little misc. money, or do you have the majority of your money invested in something?

 

[Caustic Burno]

Do any of you keep much available cash in a checking or savings account beyond what you typically use plus a little misc. money, or do you have the majority of your money invested in something?

That is an unanswerable question its about control and comfort level as it applies to each individual .
What is much cash? 100k to you 500 dollars to me.
IMOO everyone should have at least one year income two would be better in the bank and that is considered zero.

 

[1982vett]

Definitely need emergency funds you have quick access to. Money market funds, interest bearing checking accounts, laddered cd's, treasury bills and bonds can give you quick access to cash with little market risk. I suppose credit cards could fill the gap till you can raise cash but I preference to not use them for that purpose.

 

[Jogeephus]

Do any of you keep much available cash in a checking or savings account beyond what you typically use plus a little misc. money, or do you have the majority of your money invested in something?

I do. My grandfather lost a lot of money and land when the banks failed so I don't like to tie everything up. I keep an emergency checking account that I rarely write a check on. I'll deposit passive income in it like a piggy bank and pretend its not there. Its doing very little for me interest wise but has proved handy from time to time when a bargain comes along allowing me to strike when the iron is hot. I also have a cash reserve just in case the banks get shut down for some reason and also have a stockpile of precious metals which has done quite well in the last few days with the news of the Brexit.

 

[True Grit Farms]

I always thought it was a good idea to have enough cash at the house to cover the expenses for a year. But I like cash and pay for alot of different things with it. You'd be surprised how good of a deal you can get using cash. Everyone likes cash.

 

[herofan]

I spoke with a guy from Hilliard & Lyons yesterday. Being that I will have a state retirement, he said I had the retirement part taken care of. He didn't mention an IRA or anything of the sorts. He suggested an individual account directly investing in a couple of companies with the amount I suggested.

He seemed to view my investment as just something extra, although he never said it in those words. He said he had a lot of people with retirement already in place, but they invested in stocks to pay for a car and such things as that. I'm not looking to make a million, but anything beats CDs and savings accounts right now.

My brother uses this guy, and he is well pleased with the results. He steered me in a direction totally different from my brother; we both have different situations, so that was good.

 

[js1234]

I always thought it was a good idea to have enough cash at the house to cover the expenses for a year. But I like cash and pay for alot of different things with it. You'd be surprised how good of a deal you can get using cash. Everyone likes cash.

YES. Cash is king.

 

[SJB]

I spoke with a guy from Hilliard & Lyons yesterday. Being that I will have a state retirement, he said I had the retirement part taken care of. He didn't mention an IRA or anything of the sorts.

The taxes will kill you in a straight investment account, and your accountant will kill you if the taxes don't.

You should read about a Roth IRA. You can get your principal out for any reason at any time should you have a need. I use mine as my emergency savings, making sure to account for the possibility of having to sell some stock at a loss should an emergency happen.

 

[shaz]

This may sound crazy to some, but I only invest my money in something that I know something about and can have the deed, title or product in hand. The profits I either have available in on hand cash, or put back into something I can control. I don't trust some sumbeotch in New York with my money.

Your not crazy. White collar crime is alive and well. I lost a literal fortune in a Morgan Keegan fund in 2006 that was mostly bonds but the fund manger made it look like it wasn't exposed to sub-prime real estate. He ended up barred for life from managing investments and had to pay 500K out of his own pocket. A slap on the wrist.

 

[1982vett]

I spoke with a guy from Hilliard & Lyons yesterday. Being that I will have a state retirement, he said I had the retirement part taken care of. He didn't mention an IRA or anything of the sorts.

The taxes will kill you in a straight investment account, and your accountant will kill you if the taxes don't.

You should read about a Roth IRA. You can get your principal out for any reason at any time should you have a need. I use mine as my emergency savings, making sure to account for the possibility of having to sell some stock at a loss should an emergency happen.

I agree about looking into a Roth IRA. I don't know your level of understanding. Your guy should have told you to fund your retirement account at work first. At least to gain the maximum employer contribution match. Then your Roth IRA. You may even fund a spouses Ira/Roth account should the not have earned income. For example...I put $1600 into my Ira and the rest into my Roth because 1600 was the most that was deductible for me. I fully funded my wife Roth because she is retired and has no earned income. I had enough earned income to fund them.

The blanket statement about taxes in an individual account is a disservice to many. Maybe it's too complex but understanding how to "manipulate" schedule D can be very fruitful. Get yourself some tax software and see the taxable effect on different income levels. Take time to learn about tax gain/loss harvesting, how it effects your cost basis and taxes. Harvesting losses lowers a basis. Harvesting gains raises it. Why would you harvest gains? :shock: gasp..... Knowing where taxes on gains kicks in is key and it is a moving target. I paid no taxes on $72,000 worth of capital gains last year. No taxes on $56,000 the year before. Wasn't so lucky the year before that. We were finish up the house which I was writing checks for. Cost ran more than I had anticipated and had to overshoot that sweet spot. It does take time and effort, but you can tax manage a taxable account. If you don't want to put the time in to do it, I know most mutual fund companies have tax managed funds that might help with the tax sting.

 

[millstreaminn]

I started investing heavily in stocks about 10 years ago. That was the first time in my life that I actually made more money than I need to live on. Of my total net worth, 80% is in real estate, 15% is in stock and the rest cash and silver bars. I am invested in rather aggressive stocks because I am only 46 and have a long time to let the money sit there. I still get burnt sometimes in the market. Trying to learn to buy and and hold it long term.

 

[Brute 23]

I don't think the majority of the investment people are bad people, they are just ignorant. They spit out talking points and have no clue how to do the math be hind it. I have run across 2 or 3 people at get togethers that start spouting their investment tips. You do the math right in front of them and the just have confused look. All they can do it repeat what has been repeated to them.

 

[Dave]

Back in the late 70's early 80's I invest thousands in the Foc'sle Bar in Ketchikan. Alaska. I am still waiting for a return on that investment......

Now I wish I would have invested elsewhere back when I was rolling in the dough.

 

[ga.prime]

I bought a 10 pound copper ingot off ebay last year.