Stock Market

DrMoab said:
Well...if you are smart enough to leave your money alone, it really won't matter. It will come back up.

Good time to buy though.
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Exactly, the lower the lower the price, the more my money buys.
 
The media working people into a frenzy and making them think the sky is falling will be the stock markets downfall. If people would just stay calm and cool, not panic and leave their money alone we would ride this rocky time out with no worries.
 
you mean I wasn't supposed to dump everything I had in hopes of being the only one to make money?

found it amusing to watch the panic induced selling?
on topic, what are most into? I am very very new to stocks (2weeks) but a few of my buddies and I have put a bit into one that has some good things being said about it. makes things somewhat interesting watching your money rise/fall the way it does. Still up, expect to be for next few months, than selling majority to help pay for house.

haha, I said majority like I knew what I was talking about (read it online the other day)
 
My personal opinion and take it for what its worth... I think owning any kind of single stock is stupid.

I have all my money tied up with Mutual funds that have long term track records. I figure those guys are way better and this stuff then I could ever be.
 
It will be fine. It doesn't go up for ever. One thing I tell everyone...........If you get the glossy fliers in the mail or the "this co will make you rich in 6 months stuff.......forget it. They will usually have stock symbols ending in dot OB .ob DONT buy. Read the fine print disclaimer. OB stands for OFTEN BURNED. Ask me how I know! It only took one small lesson:)
 
Just got screwed. Had to roll my 401k from my old employer to another IRA because they were going to send it to the state. Employer sold business. Lost 2800.00 :bs: because they waited 2 extra days to tranfer. :bunny:
 
DrMoab said:
My personal opinion and take it for what its worth... I think owning any kind of single stock is stupid.

I have all my money tied up with Mutual funds that have long term track records. I figure those guys are way better and this stuff then I could ever be.
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I'm right there with ya. I hate to say it but it's "too many eggs in one basket". Mutual funds are the way to go. There's just too much risk and work involved in owning individual stocks. Yeah, someone who does so may end up with a couple more % point gain than you over the same period...IF they are lucky...BUT they also spent much more time picking and worrying.

Funny...yesterday everybody was screaming the DOW was going to drop 500 points...what did it do drop 150ish? Today, gained near 300. So after saying a 500 drop was coming, 2 days later we're 150 higher...lol. The mainstream media shouldn't even be allowed to open their uneducated mouths about this stuff and then the general public wouldn't get their panties in a wad.
 
didn't mean to imply I had all my eggs in one basket, just one of many eggs being tested in a new basket.
I have my savings, funds, RRSP's and such. I just wanted to do some research/reading and see if I could have some fun on the stock market. so far I am ok, and if all pans out well (sounds silly I know) I would be happy just getting my money back in 2 months.
My buddy has made quite a bit of money in stocks (well for us quite a bit) he let me know the risks, this is just for fun I guess. Even if it is $1500, the house doesn't depend on it, but anything it makes will be added bonus (more it makes, more mods on the way)
 
Back when 401k first came out they said if you fund it you will hjave over a million dollars when you retire. Great I'm going to be a millionaire! Do you really think our goverment is going to let a common working man retire a millionair? Somthing my almost retired uncle said at Christmas. Hmmm.
 
beakie said:
didn't mean to imply I had all my eggs in one basket, just one of many eggs being tested in a new basket.
I have my savings, funds, RRSP's and such. I just wanted to do some research/reading and see if I could have some fun on the stock market. so far I am ok, and if all pans out well (sounds silly I know) I would be happy just getting my money back in 2 months.
My buddy has made quite a bit of money in stocks (well for us quite a bit) he let me know the risks, this is just for fun I guess. Even if it is $1500, the house doesn't depend on it, but anything it makes will be added bonus (more it makes, more mods on the way)
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No, you're right. Sorry, hopefully you didn't read that like I was talking down to you or anything. I've done the same thing. I've "dabbled" with stocks with small amounts of money like that...it's fun and challenging. If you can come out up a hundred or so...it's feels kind of cool knowing that you "played the market" and won.
 
Stumpalump said:
Back when 401k first came out they said if you fund it you will hjave over a million dollars when you retire. Great I'm going to be a millionaire! Do you really think our goverment is going to let a common working man retire a millionair? Somthing my almost retired uncle said at Christmas. Hmmm.
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What are you talking about? That statement can be true, if you fund it with the right amount in the right places, becoming a millionaire is mathmatically not that hard but it requires TRUE dedication and commitment...something that most people can't do. You can't fund it with $20 a month and expect to retire a millionaire.

Do I think the gov't is going to let a common working man retire a millionaire??? LOL...that sounds like a conspiracy theory statement. Do you think the gov't has people sitting around watching investment accounts waiting for somebody to be close to having $1M and when they do, they make those companies they're invested in crash so they don't have $1M? That seems pretty ridiculous to me and probably everybody else. I come across "common working" men all the time who worked in nothing spectacular who are know millionaires because of hard work and dedication to saving. It's called living within your means. 99% of Americans have a hard time doing that.

Sorry, but your post was completely retarded and kind of made me laugh.
 
Driving into work yesterday listening to the news and wondering how this would effect me. Not much, I'll go to work, read NAXJA eat lunch, read some more NAXJA, drive home, eat dinner and read more NAXJA.

It's serious, but I so far down the economic pecking order and being in the military (job won't be closing it's doors) there is no real effect to me.
 
Can't really give any advice, but according to BW "CPI (not including energy and food) rose 2.5% the fourth quarter 2007". That is 10.3% inflation. Whatever you save today will have only 2% of todays buying power 40 years later. That is about saving in cash. Stocks, sure they rise with time, do they rise as fast as inflation ? Some do, but not always. Those retired in 2002 have a nice example to show. CDs, bonds - all insured stuff gives about 5% now, it sure helps a lot to fight inflation, it will leave about 14% of your first year of savings 40 years later.

Saving for retirement when you are 20-30, does it really make any sense ? Am I missing something ? Teach me, I am 32, I will need it soon.

Thank you,
Andrey
 
You should always save. If you have a 401(k) invested right (and continually managed by YOU) you can maximize gains and minimize damage. Right now you might (for example) put most of your account into bonds or cash accounts. As the market in general slides you will be protected, and when the market comes around you move back into growth funds, etc.

As always, DEFINITELY save and make sure your savings are at least keeping up with inflation. Mutual funds are a good way to send a check and let someone else handle the details, but growth is low and it's pretty expensive in the long run. On the other hand you could get a Roth IRA and completely handle your retirement on your own, at much greater risk. And rewards, if done right. I lost $4k today on the second option, but overall I do OK.
 
Slonopotam said:
Can't really give any advice, but according to BW "CPI (not including energy and food) rose 2.5% the fourth quarter 2007". That is 10.3% inflation. Whatever you save today will have only 2% of todays buying power 40 years later. That is about saving in cash. Stocks, sure they rise with time, do they rise as fast as inflation ? Some do, but not always. Those retired in 2002 have a nice example to show. CDs, bonds - all insured stuff gives about 5% now, it sure helps a lot to fight inflation, it will leave about 14% of your first year of savings 40 years later.

Saving for retirement when you are 20-30, does it really make any sense ? Am I missing something ? Teach me, I am 32, I will need it soon.

Thank you,
Andrey
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Maybe you get my uncles point about being a millionair. A million won't cut it. For years I put 16% into 401K plus I buy 10% company stock at a discount.I fully fund my Roth IRA. Now after years I get my statements and can see that on some months I gain more in intrest than I make on my job. It's a compounded thing. I'm still getting intrest on the intrest of the money I put back 20 years ago. It's starting to snowball. So if you start late you will miss out on the power of decades of growth. If you have 200k In an old 401k just think what it will be in 10 more years. Eventually you get to a million and if the market goes up 5% you just made 50000. Plus you get 1500 a month social security. Hopfully you fully funded your tax free Roth so you can pull out extra like when you want a Cady or vacation. Then as you get even older you start pulling 50k a year from the million and you reverse mortgage the house. Now you are and old fart that never made more than enough to make ends meet but you have a 175K retirment income and you live like a king. What if you only save 50K and a gun freak leaves his cannon in his jeep for the sterio crook to find and shoots you because he parked his junk next to you. He ruins your ability to work but at least with the 50K you can still get a used wheelchair van and a nice chair. In other words you will never regret edjucation or saving money.
 
Boatwrench said:
Classic...or was this meant tongue in cheek:shhh:
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Hands off Tom, I got dibs on it!!!! LOL :D :D

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Stumpalump said:
Maybe you get my uncles point about being a millionair. A million won't cut it. For years I put 16% into 401K plus I buy 10% company stock at a discount.I fully fund my Roth IRA. Now after years I get my statements and can see that on some months I gain more in intrest than I make on my job. It's a compounded thing. I'm still getting intrest on the intrest of the money I put back 20 years ago. It's starting to snowball. So if you start late you will miss out on the power of decades of growth. If you have 200k In an old 401k just think what it will be in 10 more years. Eventually you get to a million and if the market goes up 5% you just made 50000. Plus you get 1500 a month social security. Hopfully you fully funded your tax free Roth so you can pull out extra like when you want a Cady or vacation. Then as you get even older you start pulling 50k a year from the million and you reverse mortgage the house. Now you are and old fart that never made more than enough to make ends meet but you have a 175K retirment income and you live like a king. What if you only save 50K and a gun freak leaves his cannon in his jeep for the sterio crook to find and shoots you because he parked his junk next to you. He ruins your ability to work but at least with the 50K you can still get a used wheelchair van and a nice chair. In other words you will never regret edjucation or saving money.
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Ok...***sigh***

1) You completely negated what you said in your first post. In your first post you said "do you think the goverment will let a common worker retire a millionaire"....and now you are saying yes. ??? Make up your mind and please stop giving people advice when you obviously are not fully educated on this yourself. For one thing...you don't get "interest" on 401k accounts. Your stocks/mutual funds/whatever either GAIN or LOSE value...not interest. Interest is given on savings accounts like CD's...NOT investment accounts.

2) You really had to throw the "gun freak" thing in there didn't you? And you had to make it a completely ridiculous possibility.

I'm all for free speech but seriously...can somebody censure this guy now? :gag:
 
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