401k

Monster

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Hey all...

Just been looking at some finance stuff and wanted to get your opinions...

I max my 401K for tax benefits... wish I'd started more in my 20s... (Listen up kids)....

At any rate... curious what other types of investments some of you may recommend...
Happen to have some extra monthly income... and pondering best ways to use it...

Thanks

I do also mess around on e-trade and some penny stocks... (gambling really)....
 

DC

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$NHMD

That is all.

:dealwithit:
 

Tater

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I've been doing decently with Vanguard. I'd have the check on the different fund types, but one is an indexed fund.
Mine has pretty conservative allocations and I've gotten around 7% for the last 6 years or so. I know you could do much better being aggressive, but depending on your age there are somewhat consistent returns out there.
JNJ is another consistent rising stock and pays a decent dividend too. I'm in their dividend reinvestment program. You only need to buy one share to get in, and then invest monthly or annually or whatever. The dividends keep going up too and they automatically buy more shares with it each quarter. Nice long term side investment.

Might not be what you are looking for, but I thought I'd post a few ideas. I've been really happy with Vanguard and don't even check it too often. Good customer service too.
 

Burque

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The first thing I would think about is what vehicle you are going to use.

If your income is not over the threshold, depending on marriage status and a few other things I would contribute to a ROTH. You do not get a tax savings on it, but it is worth it in the long run because you never pay taxes on any of the money that comes out of it and you do not have to mess with RMD's.

Also, nice thing about a ROTH is that (even if you are under 59 1/2) you can still get back your contributions if you need it for something without penalty unlike a traditional IRA.

As far as what to invest in, that depends on a lot of factors that you would probably do best sitting with a professional and going over.

I cannot give specific investment advice without spending the time to really dig down into what you are trying to accomplish, and what you already have.
 

Urblock

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The first thing I would think about is what vehicle you are going to use.

If your income is not over the threshold, depending on marriage status and a few other things I would contribute to a ROTH. You do not get a tax savings on it, but it is worth it in the long run because you never pay taxes on any of the money that comes out of it and you do not have to mess with RMD's.

Also, nice thing about a ROTH is that (even if you are under 59 1/2) you can still get back your contributions if you need it for something without penalty unlike a traditional IRA.

As far as what to invest in, that depends on a lot of factors that you would probably do best sitting with a professional and going over.

I cannot give specific investment advice without spending the time to really dig down into what you are trying to accomplish, and what you already have.
You didn't even get his SS# or phone #... what kind of MB scammer are you?
 

Burque

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You didn't even get his SS# or phone #... what kind of MB scammer are you?


A bad one apparently!!

I was just trying to point him in the right direction.

I do not come here to work. I come here to get a few minutes of break from work. =)
 

winos5

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Do you have kids? Consider an education IRA for them.
 

Monster

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Do you have kids? Consider an education IRA for them.

I do... Forgot to mention I've covered full tuition for the oldest who is all but finished at the University of Tennessee.
The other two have tax deferred vanguard accounts for theirs... Have several years before they start college.

I did not go ROTH because I started later and the tax benefit was logical. I would pay more now than later once I leave my current position.

Appreciate the feedback and will look at everything.

Burque: I will look into some pro advice... Thx
 

Urblock

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I do... Forgot to mention I've covered full tuition for the oldest who is all but finished at the University of Tennessee.
The other two have tax deferred vanguard accounts for theirs... Have several years before they start college.

I did not go ROTH because I started later and the tax benefit was logical. I would pay more now than later once I leave my current position.

Appreciate the feedback and will look at everything.

Burque: I will look into some pro advice... Thx
Good job... Paying for 3 of them gets tough... worth it when you see them having a great life.
 

Monster

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Good job... Paying for 3 of them gets tough... worth it when you see them having a great life.

They sure as hell don't deserve it... But their mine to spoil...
College was never discussed when I was a kid... I started at 30 years old.
Swore to myself mine would all go... it's a personal challenge...
I'll cover it... as long as its all As/Bs... and you graduate on time...
Worried the boy will pull a Van Wilder though... he's got a bit of the old man in him...
 

Urblock

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They sure as hell don't deserve it... put their mine to spoil...
College was never discussed when I was a kid... I started at 30 years old.
Swore to myself mine would all go... it's a personal challenge...
I'll cover it... as long as its all As/Bs... and you graduate on time...
Worried the boy will pull a Van Wilder though... he's got a bit of the old man in him...
Didn't have a boy but my middle one damned near killed me. She owns her own business that provides very good paying jobs to 8 women. Paying for their education is important whether it's a degree or trade/skill. They stop coming back home.
 

winos5

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Well if you've got ur retirement covered and the kids education covered then I'd buy a vacation property somewhere. Personally, I'd go with a mountain cabin near ski resorts.
 

Ares

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I invest all my extra money in cotton candy.... everyone loves cotton candy....
 

winos5

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Or just blow it on coke and hoes...
 

winos5

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OK another serious suggestion. Maybe start a fine wine collection, or invest in some other art/collectibles?
 

Omeletpants

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  1. Atlanta United FC
  1. Los Angeles Lakers
  2. Orlando Magic
  3. Phoenix Suns
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My input into this discussion is to "do something". Lots of people think about it but don't do anything

-I was able to pay for my daughters college education by setting up a mutual fund account and putting in modest amount when I could. The market did the rest

-I paid off my house by adding modest amounts the mortage payment each month. 6 years later it was paid off and that was 20 years ago

Do something now
 

LordKOTL

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Never had a college fund set up for me--I partially paid for it myself, partially paid for it via my mom's life insurance (and for the record, I would have much preferred her alive and gotten a 2nd job).

That being said, I started my 401k when I was 21. I've been slowly increasing the amount I donate over the years and started out aggressive in my portfolio, but have diversified it a lot more the older I got.

Roth 401ks look interesting because of the whole tax exemption. It might not be a bad idea to look into one of them.
 

Ares

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My input into this discussion is to "do something". Lots of people think about it but don't do anything

-I was able to pay for my daughters college education by setting up a mutual fund account and putting in modest amount when I could. The market did the rest

-I paid off my house by adding modest amounts the mortage payment each month. 6 years later it was paid off and that was 20 years ago

Do something now

What if I buy a speed boat and finance it at like 9%..... dis seems like a sound financial investment to me..... everyone loves boats, so if I need to sell it quick it shouldn't be a problem.
 

winos5

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What if I buy a speed boat and finance it at like 9%..... dis seems like a sound financial investment to me..... everyone loves boats, so if I need to sell it quick it shouldn't be a problem.

Fuck that. Invest in me. MY account number is 12-48901-5871-234958-19456-123796.
 

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