Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[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.

[Munson]

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]

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]

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]

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!

[Buehler445]

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?

FWIW, CPA and CFP have virtually nothing to do with each other.

CPA = Certified Public Accountant
CFP = Certified Financial Planner

The similarities end with requiring certification and continuing education, the similarities pretty much end there.

Becoming a full on CFP would be a massive undertaking. Meaning He would have to take a ****load of courses, the exam, and work under a CFP for a really long time.

This would be a full on career change.

That being said, many "financial planners" aren't certified. Most ****nuts Series 5, 6, or 7 certifications so they can sell bullshit ass products for bullshit ass companies.

I don't know if there are any other certifications out there, but I wouldn't recommend going the full CFP route.

https://www.cfp.net/become-a-cfp-pro...n-requirements

[lewdog]

Originally Posted by Buehler445

FWIW, CPA and CFP have virtually nothing to do with each other.

CPA = Certified Public Accountant
CFP = Certified Financial Planner

The similarities end with requiring certification and continuing education, the similarities pretty much end there.

Becoming a full on CFP would be a massive undertaking. Meaning He would have to take a ****load of courses, the exam, and work under a CFP for a really long time.

This would be a full on career change.

That being said, many "financial planners" aren't certified. Most ****nuts Series 5, 6, or 7 certifications so they can sell bullshit ass products for bullshit ass companies.

I don't know if there are any other certifications out there, but I wouldn't recommend going the full CFP route.

https://www.cfp.net/become-a-cfp-pro...n-requirements

**** your man.

Crushing my dreams!

Yea, no more school for me ever. Spent too many years there to go back for anything.

[Tornado]

anyone buy weed?

[ChiliConCarnage]

Initiated my IRA transfer tonight. Thanks for the heads up Cook about Apple before I deposited. I might DCA in this year a bit.

[Rain Man]

Well, I ended that year down 5.8 percent. But before you laugh at me, I apparently beat the S&P 500.

[Discuss Thrower]

Originally Posted by Buehler445

FWIW, CPA and CFP have virtually nothing to do with each other.

CPA = Certified Public Accountant
CFP = Certified Financial Planner

The similarities end with requiring certification and continuing education, the similarities pretty much end there.

Becoming a full on CFP would be a massive undertaking. Meaning He would have to take a ****load of courses, the exam, and work under a CFP for a really long time.

This would be a full on career change.

That being said, many "financial planners" aren't certified. Most ****nuts Series 5, 6, or 7 certifications so they can sell bullshit ass products for bullshit ass companies.

I don't know if there are any other certifications out there, but I wouldn't recommend going the full CFP route.

https://www.cfp.net/become-a-cfp-pro...n-requirements

Can always do the Accredited Financial Counselor thing..

[kstater]

Originally Posted by Rain Man

Well, I ended that year down 5.8 percent. But before you laugh at me, I apparently beat the S&P 500.

Take it and run. I did my best not to panic, look at the IRA too much, and ended down 12.8. The good news is I’m still a long ways from needing it.


Sent from my iPad using Tapatalk

[scho63]

Originally Posted by Buehler445

FWIW, CPA and CFP have virtually nothing to do with each other.

CPA = Certified Public Accountant
CFP = Certified Financial Planner

The similarities end with requiring certification and continuing education, the similarities pretty much end there.

Becoming a full on CFP would be a massive undertaking. Meaning He would have to take a ****load of courses, the exam, and work under a CFP for a really long time.

This would be a full on career change.

That being said, many "financial planners" aren't certified. Most ****nuts Series 5, 6, or 7 certifications so they can sell bullshit ass products for bullshit ass companies.

I don't know if there are any other certifications out there, but I wouldn't recommend going the full CFP route.

https://www.cfp.net/become-a-cfp-pro...n-requirements

Yes I know but most successful CFPs I know began their lives as CPAs. I think it's a natural transition.

Most of you guys maybe too young to remember this how but how about "Silver Screen Limited Partnerships" sold by Lehman Brothers as tax shelters in the late 80's? ****ing disasters.......

[Buehler445]

Originally Posted by scho63

Yes I know but most successful CFPs I know began their lives as CPAs. I think it's a natural transition.

Most of you guys maybe too young to remember this how but how about "Silver Screen Limited Partnerships" sold by Lehman Brothers as tax shelters in the late 80's? ****ing disasters.......

There really isn’t a lot of overlap there. It would be a massive undertaking to switch from CPA to CFP if I understand the rules properly.

[Rain Man]

Originally Posted by kstater

Take it and run. I did my best not to panic, look at the IRA too much, and ended down 12.8. The good news is I’m still a long ways from needing it.


Sent from my iPad using Tapatalk

Ouch. Did something in particular tank on you?

I have three different accounts that I manage, two IRAs and one that's liquid savings. One of them was a rock and only lost 2.5 percent. The second one did pretty good as well, relatively speaking, and was down 3.2 percent.

But the third one was down 14.0 percent. It seemed like all of my overweighted stocks in that account tanked, even though there was no particular pattern among them. My second-biggest holding in that account (THO) got pulverized this year, losing over 60 percent, and it was about 8 percent of my total holdings in that account. But hey, now it's low so I'm buying a little more. It'll go back up eventually, right?