if they say the supposedly that Medicare will go bankrupt by 2019 and eventually Social Security could be gone, what would you guys think would be the best way to save money?? I allready have money in stocks through my work at Lucent and Comcast and I do have a 401k, but like extra cash should i just put that into a Savings account or what? Im more worried about my daughter more than anything, i just want to make sure she will have money for college and stuff like that. Thanks
Investment Question
- Thread starter Kdogg21
- Start date
REAL ESTATE. Find a dublex that is not two costley. Make sure it can pay the monthly payment. Plus you wish a surplus for those things that go wrong. So your rent should get you a extra 150 to 200 bucks amonth to start. This duplex will help you save on taxes for first 5 to 7 years as a write off. And at same time make some cash to add to other reserves. And as all real estate that is kept up. You will be able to sell at higher level. Even after capitol gains for some nice cash.
I did this and after getting first one. I was able to get a second one. And there not all that much work. Soem say I will never do real estate becasue of all the problems. You set the rules and problems can be held to minium.
I did this and after getting first one. I was able to get a second one. And there not all that much work. Soem say I will never do real estate becasue of all the problems. You set the rules and problems can be held to minium.
the way to go and a very good fund have been in it for awhile and use auto dep every month it is split up good and has a very good moringstar rating, and will always do good over time you can check it out on s&p 500 you can read all about it on the net very happy with this fund and the way it is split up and it has always been a steady earner not a lot of flux syymbol is sbbpx, ran by fiserv securities who does a very good job with this fund,
check it out i think you will like what it would offer you IMO , it has been good for me even in the off times in the late 90's this is long term and has more growth then risk, it has ran very well even in the bad times and will go up good in the long term which what it is, and you can start with i think 500 in and put in what you want each month and they will buy your shares for how ever much you put in each month, now this is long term so i think ties it up to 62 for you, but like i said you won't lose money or should not, it is more of a safe type fund. but it has growth and risk split up in 13 different ways and it changes from time to time that is what fiserv securities is for they and wamu manage the fund for you. do yourself a favor and at least read up on it.
good luck
Eric
check it out i think you will like what it would offer you IMO , it has been good for me even in the off times in the late 90's this is long term and has more growth then risk, it has ran very well even in the bad times and will go up good in the long term which what it is, and you can start with i think 500 in and put in what you want each month and they will buy your shares for how ever much you put in each month, now this is long term so i think ties it up to 62 for you, but like i said you won't lose money or should not, it is more of a safe type fund. but it has growth and risk split up in 13 different ways and it changes from time to time that is what fiserv securities is for they and wamu manage the fund for you. do yourself a favor and at least read up on it.
good luck
Eric
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Excellent point DJV. I tried the stock market/mutual fund thing and got killed!! Still have $$ in their, but very little. Start @ 529 college savings plan.
GL
GL
If you want to set up something for your daughter, then set up a Roth, which you can use for higher education, with less hassle than a 529, but if you want to put away more, then a 529 might be a good idea. Don't worry about the ups and downs, that ois what dollar cost averaging does. Ups a nd downs are nayural, but peope have gotten greedy over the last year, and expect the tech like returns again. If you can average 10-12%, you should be very happy. Go growth if you can. Or if you want, just buy a S&P 500 fund or a Russell 2000 trancking fund. WIll make things easy for you, but get more conservative as your daughter gets closer to school, by mixing in a good bond fund, or individual muni's or T-bills. The important thing is to get started as soon as possible, because compounding interest is you friend.
Very good info Doughboy.
Here's what I have for the wife and I. We both have Roths that are fully funded every year. Everyone eligible for a Roth should DEFINITELY HAVE OR GET ONE. TOTALLY TAX FREE ON GROWTH AND WHEN DISTRIBUTIONS START.
Also have 401k with my work, but what I want to let kdogg know is how to set up your own personal "mutual fund" with virtually no transaction and broker costs.
I have all blue chip companies set up in drips, which are accounts set up directly with companies that allow you to buy their stock directly from them for very little cost and then all the dividends are reinvested back into buying more stock. It is a geat way to invest over the long term with virtually no cost.
Most companies also allow you to buy stock every month with auto pmts taken directly from your checking accounts and you can also send in periodic investments whenever you might have the extra cash.
Here's what I have for the wife and I. We both have Roths that are fully funded every year. Everyone eligible for a Roth should DEFINITELY HAVE OR GET ONE. TOTALLY TAX FREE ON GROWTH AND WHEN DISTRIBUTIONS START.
Also have 401k with my work, but what I want to let kdogg know is how to set up your own personal "mutual fund" with virtually no transaction and broker costs.
I have all blue chip companies set up in drips, which are accounts set up directly with companies that allow you to buy their stock directly from them for very little cost and then all the dividends are reinvested back into buying more stock. It is a geat way to invest over the long term with virtually no cost.
Most companies also allow you to buy stock every month with auto pmts taken directly from your checking accounts and you can also send in periodic investments whenever you might have the extra cash.
Kdogg21 the reason I mentioned Real Estate. You sound like your funded in stocks already. Please do not keep your eggs in one basket. As many just learn in 01 and 02. It will take them a few years to get there money back. If nothing else at least start some ladder CD's. And the 401K you have watch it close. Folks used to say just put it in and dont worry. Watch it like a hawk.
Real Estate has lost money 1 year in last 60. Even the stock market cant say that. And always be carefull of to many stocks in one company. Enron and Worldcom are all you need to know about that.
Real Estate has lost money 1 year in last 60. Even the stock market cant say that. And always be carefull of to many stocks in one company. Enron and Worldcom are all you need to know about that.
that is why you do the type of fund I have djv in the s&p you are not going to get ripped off like if you were a share holder of stocks on your own with a big exchange company, and i also have a fund like ctwon does but i have it ran through my broker wamu which does not cost much at all i own , lot of safer type stocks and get div checks , a few that do good for me wallgreens and bank of america, city group and chase bank. all have done well for me and buy some and have with wallgreens and bank of america for a very long time , I buy every other month in these, my wallgreens was started from almost as soon as they sold stock and got in early and have got very good returns and they are going to keep growing for awhile and the others that i am with are not going to go ass up if they do then so would the whole us, i own shares of a couple more and add like i said every few month but the 4 i named do very well and will not go ass up. but to start a fund like i said and gave you its name in the s&p is easy and safe not the kind of stock you think of when people talk stocks this is a solid fund, but I also own stocks my own share of the ones i named and they are mine not in with a pooled group, that takes a little more cash but does well and even better if you get a split sometimes. don't listen to people who say mutual funds all went ass up and lost that is just not true, the bigger you go and higher risk then you got burnt some but the market is just like it has been over the last 60 years have someone show you the activity sheet on the market over those times it goes in runs and it is not going to stay at a major low it is all about time and if you stay in long term you will get at least 10-12% over your years. You need a good and honest small cap broker if you have a washington mutual in your aera they will also have a washington mutual financial services there and these are not people who work as tellers or loan officers, this is a company with in a company, they are real brokers and take a less of a cut then a ef hutton or other names out there. Roth is ok but only so much you can do with it but very good to have. i am almost split like ctown but i choose who i want like he does but use my financial service to do all my work, have not bought any different ones for a few years and if i do he would tell me if he thought it was bad, but going with your own stocks like the ones I have you should be fine for the most part and a good s&p mutual fund like sbbpx is not going to go ass up. d-boy also had a good thing with T-bills should always buy some of them when you can they will do good, also lot of people don't mess with savings bonds but i started with them in college, you have different types and they will bring you in some return after they mature.
Fletch I agree. Im In some great funds and some stocks on there own. And yes I stick to the majior companies not those hot ticket that seem to die. But I watch it like a hawk. I pulled a lot back to money market for 1 year and was glad I did. I saw some take 45% loses. Im back in full now. Came back in late 2002 and last year was nice to say the least. And yes not all funds took it in the butt as bad as some. In fact one I rode the down turn in. Fidelity Low Price stock it just keeps kicking butt. Un real the money I made in that fund last 6 years. It is now cloesed to new investors. But few years back 15 to be exact I said self everything is in money. CD's, Bonds, Stocks and Funds. That left Real Estate. Fletch it's been a real ass kicker for me. The write offs I got I invested in more and other funds. Im now completely out since taking retirment. Some nice goodies for traveling. And gradkids college funds. I wish I had started earlier as a friend of mind did. He's still in deep. Has 7 rental properties with total 26 units rented. All are paid for all giveing him a total average of 18200 month. After expenses and taxes poor guy only has 12200 to live on per month. And these propeties just keep going up in value.
thanks for the replies guys!!!
djv, i have been looking into the real estate issue, no doubt about that. i have some preety good ideas where to invest. the south west suburbs of Chicago are really starting to boom, and if they add the 3rd additional airport, it will do nothing but skyrocket that town. the S&P investment sounds more up my alley. im just looking to put my money into something for a bit of time and make some extra cash off of it. I also have been looking into some money market funds as well. To be honest im really new to any type of investments and stuff like that so I am just learning as I go. I do have extra cash to go around, but I don't want to be spending that much on it. I would rather just get my feet wet and see what happens. Some people have even told me to invest into some 'penny' stocks if you want to make quick cash, but that remains to be seen.
djv, i have been looking into the real estate issue, no doubt about that. i have some preety good ideas where to invest. the south west suburbs of Chicago are really starting to boom, and if they add the 3rd additional airport, it will do nothing but skyrocket that town. the S&P investment sounds more up my alley. im just looking to put my money into something for a bit of time and make some extra cash off of it. I also have been looking into some money market funds as well. To be honest im really new to any type of investments and stuff like that so I am just learning as I go. I do have extra cash to go around, but I don't want to be spending that much on it. I would rather just get my feet wet and see what happens. Some people have even told me to invest into some 'penny' stocks if you want to make quick cash, but that remains to be seen.
