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#31
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Re: My horrible 30+ years of fun land me in dept
Debt kills u.
Repay any debt asap, and u can really accumulate wealth fast. Cut unwanted recurring liabilities. Its not a need, its a choice. U can skip pay TV and save several hundreds a year. Not owning a car saves u even more. This difference can be incredible. Over a 10 yr period, total cost of owning a car can come out to 200k including taxes, maintenance & fuel (adjusted for inflation). This 200k if u managed to plow it into the US stock market 10 yrs ago, is going to pay u 3 times excluding dividends (profit after investment cost)! The difference comes out to be 800k over 10 yrs! (be 200k poorer, or 600k richer). So sometimes, something as simple as a car could turn out to be the difference between being broke or being a cash millionaire. Mortgage is a bit different. Because usually your property will earn more than your mortgage interest in the long term (10 yrs or more), unless u bought your property in a place where even birds dont wanna fly there. Why pay off mortgage earlier if u are earning more than the mortgage interest every year on your spare funds? Saving money alone is not enough. U need to invest using your savings. Diversification is key when it comes to investing. Never throw all your savings into 1 investment. Forget aiming 12% - 15% average compounded yearly returns. These are probably high risk and can wipe out your capital before u even earn back your investment cost. More realistic to aim for around 5% - 7% compounded yearly for diversified portfolio. Dont be too greedy. Be patient and realistic on your investment targets. When u are still working and have reasonable income, do not spend any of your investment returns. Plow it back in and reinvest more! |
#32
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Re: My horrible 30+ years of fun land me in dept
Is it true?
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#33
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Re: My horrible 30+ years of fun land me in dept
unless u warren buffett
overconfidence often kills your investments than not. u want > 10% a yr can, all put into stocks. Hold it no matter what. at least 20 yrs. drop 99% also hold |
#34
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Re: My horrible 30+ years of fun land me in dept
Which investment is safer?
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#35
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Re: My horrible 30+ years of fun land me in dept
Yes absolutely correct. Diversification with stocks, mutual funds and bonds with different levels of risk vs gain potential is key to success. Also there are some cyclical stocks. Invest in those at the season when those are low and sell in the high season. Discipline matters. Also consider politics ... If investing in US stock market then invest in defense stocks while republicans in power but get rid of those before election debate heats up. Don't put all eggs in same basket.
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#36
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Re: My horrible 30+ years of fun land me in dept
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#37
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Re: My horrible 30+ years of fun land me in dept
If everybody win money then who loose?
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#38
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Re: My horrible 30+ years of fun land me in dept
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#39
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Re: My horrible 30+ years of fun land me in dept
In future, you will need permission to bonk that same pussy otherwise you can go to jail for a long time.
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#40
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Re: My horrible 30+ years of fun land me in dept
the ones who bail out when the market is down loses.
majority of investors are such, whether is novice or professional. All scared shitless then times are bad. investing really tests your character more than many other things in life. When u invest in funds, be careful about fees. Fees can eat a lot of your returns over many years. I dont go for mutual funds anymore as fees dont justify their performance. nowadays i DIY. Most fund holdings actually mimic stock index like >80%. 90% of fund managers dont have any skill and perform badly against stock index. Fund managers basically bluff money one. And most fund managers become fund managers not because they're good, but because of their connections (or parents' connections). |
#41
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Re: My horrible 30+ years of fun land me in dept
How to win money?
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#42
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Re: My horrible 30+ years of fun land me in dept
Strongly agree
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#43
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Re: My horrible 30+ years of fun land me in dept
Not true
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#44
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Re: My horrible 30+ years of fun land me in dept
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#45
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Re: My horrible 30+ years of fun land me in dept
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