Investments

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Originally Posted by Biff-chan

I am going to go out on a limb and say go to Charles Schwab, unless your investments are 25k or above, seriously.

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They are, actually.

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Originally Posted by Biff-chan

Nah, if you're young AND if you invest wisely you can retire at 40. If you play super trader, you'll be broke by the following week. The market owns noobs on a daily basis.

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QFT, only invest on your own if you've got experience or enough to lose so you can gain experience. That or inside info, which is illegal.

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Originally Posted by Cowdisease

Biff is right. If you are able to invest 20% of your yearly income into index funds and start when you're 20, you can definitely retire by the time you hit 40. Haoh, take the boring route and invest in something like the Vanguard 500. You'll be a millionaire by the time you retire.

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What if someone put away 50k a year in the vanguard, could that be sooner? (Future planning)

Er I was assuming this was disposable income. I mean I guess 10,000 would up your timeline if you were going for retirement at 40, but, if you have it and weren't expecting it, why not take a shot?

I admire your spirit, YAWA, but you should not invest, trade, or do anything with your money without a plan. Haphazardly or blindly throwing it out there like you're at a craps table is just feeding the sharks. Before you invest or trade, identify what your exit strategy is. Your exit strategy is even more important than your entry. What return are you looking for? What is the risk you are willing to assume? What is your expected timeframe? When will you take profits? When will you cut losses? Consideration of these items is crucial. A good way to determine when to take profits is to ask yourself this question (presumably after a run-up in the stock or fund): If I had no position, would I buy this stock at this price? If the answer is yes, then you should add or hold. If the answer is no, you should sell.

Yea it'll be disposable more or less. Mostly money I'd either bank or spend on my cousin's/kid's college.

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Originally Posted by Drewbacca

They are, actually.

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Where not talking about WOW gold here Drew, real man money.

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Originally Posted by Gooch

I admire your spirit, YAWA, but you should not invest, trade, or do anything with your money without a plan. Haphazardly or blindly throwing it out there like you're at a craps table is just feeding the sharks. Before you invest or trade, identify what your exit strategy is. Your exit strategy is even more important than your entry. What return are you looking for? What is the risk you are willing to assume? What is your expected timeframe? When will you take profits? When will you cut losses? Consideration of these items is crucial. A good way to determine when to take profits is to ask yourself this question (presumably after a run-up in the stock or fund): If I had no position, would I buy this stock at this price? If the answer is yes, then you should add or hold. If the answer is no, you should sell.

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K I'm coming to you with investment advice down the road, be prepared.

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Originally Posted by MarsKitten

What if someone put away 50k a year in the vanguard, could that be sooner? (Future planning)

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Yes, but if you have the kind of scratch to save 50k a year and can still live comfortably, then money really isn't a problem for you.

Well, shit if we are playing that game, I'll just go and buy 15 shares of Berkshire Hathaway.

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Originally Posted by Cowdisease

Yes, but if you have the kind of scratch to save 50k a year and can still live comfortably, then money really isn't a problem for you.

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Yes but the idea of money not working for me in the long run (ie sitting in the bank collecting dust/minimal interest) seems like a waste. Especially if the market can out perform the interest on my student loans.