Author Topic: New To Investing Thread  (Read 327180 times)

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Offline LilSmokyMcIntyre

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Re: New To Investing Thread
« Reply #450 on: April 24, 2013, 12:00:03 PM »
I just read the first few pages if this and realized the finance 450 should be a requirement to graduate. These are simple life skills that all people should know.
Use your money in this order. If you have more, move to the next. Its pretty easy.

401k to the match and no more
Max out Roth IRA
If you get a Stock discount option use it
Speculative investing

If you are actually using info in this thread then only invest in index funds. If you think you can do better than approx 8% annually, speculate with stocks. Never speculate with stocks $ you can't afford to lose bec you can. That's all you need to know.

Retire in early 50s regardless of your income level.

Offline The Tonya Harding of Twitter Users Creep

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Re: New To Investing Thread
« Reply #451 on: April 24, 2013, 12:35:48 PM »
Better than 25% of Americans  :jerk:
I think what my friend Mitch is trying to say is that true love is blind.

Offline michigancat

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Re: New To Investing Thread
« Reply #452 on: April 24, 2013, 01:04:28 PM »
I don't think people that don't know about this stuff are idiots. Just not very educated. Our schools are terrible at educating people about retirement planning, and so are the corporations offering 401k's to their employees and the corporations administering 401k's for employers.

Offline Emo EMAW

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Re: New To Investing Thread
« Reply #453 on: April 24, 2013, 01:09:28 PM »

Offline ben ji

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Re: New To Investing Thread
« Reply #454 on: April 24, 2013, 01:15:27 PM »
I don't think people that don't know about this stuff are idiots. Just not very educated. Our schools are terrible at educating people about retirement planning, and so are the corporations offering 401k's to their employees and the corporations administering 401k's for employers.

Thats why gE is here to fill in the gaps!

But yes I agree with you. I took Finance classes at KSU but still had no real idea about how retirement investments worked in practice. I graduated, picked some funds from my 401k that looked like they had good returns and started contributing.

It wasn't until about a year ago that I started actually researching Roth IRA's/Index Funds/Exp ratio's etc and noticed that one of the 401k funds I was in had a 1.96 Exp ratio  :surprised:


Offline Johnny Wichita

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Re: New To Investing Thread
« Reply #455 on: April 24, 2013, 01:17:27 PM »
Pro-tip:  invest with JW and Associates.  You're welcome. 

Offline Rams

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Re: New To Investing Thread
« Reply #456 on: April 24, 2013, 01:21:52 PM »
I don't think people that don't know about this stuff are idiots. Just not very educated. Our schools are terrible at educating people about retirement planning, and so are the corporations offering 401k's to their employees and the corporations administering 401k's for employers.
it's mind boggling to me that personal finance isn't part of every high school curriculum.  I can't tell you how many doctors and other "well educated" people I've come across that know absolutely nothing about how money works.  but if you think about it, if you do pre-med in college and then go onto med school you can complete your entire education without having ever taken a single course in basic finance. it's inexcusable.
"Son. This is why we are wildcats. Hard work, pride, the heart of this country. And if that's not enough for you, you can just move to California with your punk friends."

Offline michigancat

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Re: New To Investing Thread
« Reply #457 on: April 24, 2013, 01:23:53 PM »
I don't think people that don't know about this stuff are idiots. Just not very educated. Our schools are terrible at educating people about retirement planning, and so are the corporations offering 401k's to their employees and the corporations administering 401k's for employers.
it's mind boggling to me that personal finance isn't part of every high school curriculum.  I can't tell you how many doctors and other "well educated" people I've come across that know absolutely nothing about how money works.  but if you think about it, if you do pre-med in college and then go onto med school you can complete your entire education without having ever taken a single course in basic finance. it's inexcusable.

that's kind of my point. I never took a personal finance class. I also didn't invest in my 401k at my first job because I really didn't know any better. It's insanely basic, but hard to know about unless you do something like seek out the best way to invest your money.

Offline ben ji

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Re: New To Investing Thread
« Reply #458 on: April 24, 2013, 01:28:49 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

Offline steve dave

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Re: New To Investing Thread
« Reply #459 on: April 24, 2013, 01:29:29 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

my god

Offline mocat

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Re: New To Investing Thread
« Reply #460 on: April 24, 2013, 01:33:12 PM »
I just read the first few pages if this and realized the finance 450 should be a requirement to graduate. These are simple life skills that all people should know.
Use your money in this order. If you have more, move to the next. Its pretty easy.

401k to the match and no more
Max out Roth IRA
If you get a Stock discount option use it
Speculative investing

If you are actually using info in this thread then only invest in index funds. If you think you can do better than approx 8% annually, speculate with stocks. Never speculate with stocks $ you can't afford to lose bec you can. That's all you need to know.

Retire in early 50s regardless of your income level.

Seems like a great summary

Offline The Tonya Harding of Twitter Users Creep

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Re: New To Investing Thread
« Reply #461 on: April 24, 2013, 01:35:39 PM »
Better than 25% of Americans  :jerk:

 :confused:

 :kstategrad: bro. im already better than 99% of americans.
I think what my friend Mitch is trying to say is that true love is blind.

Offline Kat Kid

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Re: New To Investing Thread
« Reply #462 on: April 24, 2013, 01:43:07 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

my god

When you stop and think about who writes the textbooks you shudder a bit.

Offline ben ji

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Re: New To Investing Thread
« Reply #463 on: April 24, 2013, 01:55:38 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

my god

When you stop and think about who writes the textbooks you shudder a bit.

The class was taught by some a counselor/therapist or something, I dont think she was an actual professor. First day of class she tells us she wanted to teach this class because most divorces are due to money issues...I doubt she had any financial training.

The class was offered through the human scienes college, loaded with freshmen and soph girls  :D

Offline Emo EMAW

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Re: New To Investing Thread
« Reply #464 on: April 24, 2013, 02:04:52 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

my god

When you stop and think about who writes the textbooks you shudder a bit.

The class was taught by some a counselor/therapist or something, I dont think she was an actual professor. First day of class she tells us she wanted to teach this class because most divorces are due to money issues...I doubt she had any financial training.

The class was offered through the human scienes college, loaded with freshmen and soph girls  :D

So it might have been a good, informative class, except you had a boner the whole time. :fatty:

Offline LilSmokyMcIntyre

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Re: New To Investing Thread
« Reply #465 on: April 24, 2013, 02:23:02 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

my god

I think I know the class you were talking about. Ksu offers some fshs major about personal finance. As a finance person myself, I asked my friend in this major what his major was about. It seemed odd to me that our majors sounded so similar but in completely opposite schools. Anyway he said in his major they cared about the people and not the numbers. I laughed at him. I guess I have a different perspective on finances. Numbers should probably be considered.

Offline chum1

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Re: New To Investing Thread
« Reply #466 on: April 24, 2013, 02:34:27 PM »
Prerequisite for saving:  Having/realizing that you have money to save. 

Offline Emo EMAW

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Re: New To Investing Thread
« Reply #467 on: April 24, 2013, 05:57:52 PM »
Prerequisite for saving:  Having/realizing that you have money to save.

Aside from 401k, I think it was 3 years out of school before I realized I was blowing thousands of dollars on booze and whores. 

Offline 8manpick

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Re: Re: New To Investing Thread
« Reply #468 on: April 24, 2013, 06:14:40 PM »
Prerequisite for saving:  Having/realizing that you have money to save.

Aside from 401k, I think it was 3 years out of school before I realized I was blowing thousands of dollars on booze and whores.
The eff else would you spend it on?

*as a young single college grad
:adios:

Offline Phil Titola

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Re: New To Investing Thread
« Reply #469 on: April 24, 2013, 09:25:20 PM »
Hook yourself up with an HSA if at all possible.  True tax free in and out.

Offline GoodForAnother

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Re: New To Investing Thread
« Reply #470 on: April 24, 2013, 09:39:58 PM »
Hook yourself up with an HSA if at all possible.  True tax free in and out.

I have one. Pretty cool. Once I got to over $2k I was able to put some of it into an index fund.
emaw

Offline The Whale

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Re: New To Investing Thread
« Reply #471 on: April 24, 2013, 11:20:05 PM »
I took "Intro to family finances" as a random elective my senior year.

Not once did we cover anything about 401k's or retirement saving besides the basic Time Value of Money equations which was about 1-2 weeks of class.

Spent most of the time going over how to make a budget and how CC's are bad.

my god

I think I know the class you were talking about. Ksu offers some fshs major about personal finance. As a finance person myself, I asked my friend in this major what his major was about. It seemed odd to me that our majors sounded so similar but in completely opposite schools. Anyway he said in his major they cared about the people and not the numbers. I laughed at him. I guess I have a different perspective on finances. Numbers should probably be considered.

So they enroll them in Dave Ramsey's Financial Peace University and pocket the difference in cost.  Sounds like a good plan for the 2025 initiative.

Offline steve dave

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New To Investing Thread
« Reply #472 on: April 25, 2013, 06:03:19 AM »
Hook yourself up with an HSA if at all possible.  True tax free in and out.

Yeah, I max that thing out every year. I can pick between about 20 funds to invest mine.

Offline slobber

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Re: New To Investing Thread
« Reply #473 on: April 25, 2013, 06:25:12 AM »
Hook yourself up with an HSA if at all possible.  True tax free in and out.

Yeah, I max that thing out every year. I can pick between about 20 funds to invest mine.
If you make serious bank, max it out and then pay your medical expenses out of pocket.

Offline steve dave

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Re: New To Investing Thread
« Reply #474 on: April 25, 2013, 07:15:13 AM »
Hook yourself up with an HSA if at all possible.  True tax free in and out.

Yeah, I max that thing out every year. I can pick between about 20 funds to invest mine.
If you make serious bank, max it out and then pay your medical expenses out of pocket.

hmmmm, explain this to me. I mean, I normally have very minimal medical expenses so this thing has just grown over the years. And I can only write off medical expenses over my 7.5% floor. So I'd be giving up the tax benefit of having an HSA now for more growth and benefit later? that does make sense.