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Joined: May 2003
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Leanwolf: Yes is the answer to your postings header... I have been retired since I was 50 years old!
I am in my 20th full year of retirement and LOVING IT!
Hold into the wind
VarmintGuy

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It is amazing the number of folks that wont even put in enough retirement money to meet their employee's match.
Yet have enough for multilple smartphones, $200 a month cable, multiple new vehicles, boats etc

I always tried to max out my 401k contributions and hopefully will do ok. Have house paid off and enough monthly income off of investments to have fun, travel, hunt fish etc. Big concern is no major health issues

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Originally Posted by utah708
I spend time on firearms/hunting forums (mostly this one) and on personal investing/early retirement forums. I think that if the people on the investing forums started offering opinions about guns, I think they would MAYBE get as f*cked up as some of the posts in this thread, but then again maybe not.

Generally accepted rules of investing
1. Max out any retirement benefit for which you get an employer match before anything else.
2. Max out tax sheltered savings before after tax savings.
3. Diversify across uncorrelated asset classes.
4. Minimize transaction costs.
5. Time invested is more important that timing of investment.

Online brokerages have greatly assisted with personal investing. Kiplinger's Personal Finance October 2017 had the following rankings of online brokers:
Best for mutual fund investors: Schwab
' ' ETF investors: Schwab
" " active stock investors: Merrill Edge
" " investors on the go: E*Trade (mobile platform)
" " for managing cash: Fidelity
" " for retirees: Vanguard.

I have accounts at TD Ameritrade, Schwab, Vanguard, and Merrill Edge, and they really have very strengths and weaknesses.

There is absolutely no need to pay an advisor or high fees for financial products (even though I cannot convince my elderly mother or Mother in law to drop their ("because they are so nice")).


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Originally Posted by VarmintGuy
Leanwolf: Yes is the answer to your postings header... I have been retired since I was 50 years old!
I am in my 20th full year of retirement and LOVING IT!
Hold into the wind
VarmintGuy



congrats! I have a couple of friends did the same. And they are loving life!

I hope to at 55

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I'm oilfield trash. Made my retirement money by:

Being very charitable. The more I gave, the more I made.....funny how God works.
Owning a fleet of frac tanks and selling.
Owning a fuel company and selling
Owning water trucks and selling
Never trusting anyone to manage my money
Always lived on way less than I made
Got completely out of debt at age 41 and never looked back.


It is irrelevant what you think. What matters is the TRUTH.
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One of the best things was hitting 50 two years ago. Putting max into 401k adds up quickly...


“There are some who can live without wild things and some who cannot.”
ALDO LEOPOLD
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Originally Posted by viking
So da wife and I are in our mid 40's. We each have mutual fund accounts. We started those a few years ago by rolling them under one umbrella, because we each had little retirement accounts from various employers and now they are under one roof.

Her employer and mine have R/A's, and we add to our mutual funds every year for the obvious reasons. What I would like to do is take 1k (I think that's the minimum) and go to Charles Schwab and have them invest in the stock market.

Now I know there will be some of you here that will say "do it yourself". Ah no, I don't know enough about it, stuff like that isn't my thing, thanks anyway.

So the advice I am asking is Charels Schwab a good place to start, or Edward Jones? Any other firms?

What I have noticed over the years is that it seems older guys and guys in the know that have investments don't want to give advice, almost secretive. I knew one old timer that suggested to me 20 some years ago to invest in mutual funds. I took his advice and got started at about 35. I don't understand why guys don't give advice to younger people. It's like it's they just want to be smug about it and look down their noses.


One, you can't just hand your money over to "a guy" and walk away. That's how people "lose everything in the stock market".

Two, you can't spend all your time working on your investments. You have to make a living.

Somewhere in between is where we need to be. We have to have a basic understanding of how money works. You don't have to have a degree in finance to secure your future, but you have to learn some.

You have to learn that stocks are risky in the short term, and low risk in the long term. That bonds are low risk in the short term, but high risk in the long term. That you can buy an S&P index fund at Vanguard, and make what the market makes (12% on average), and beat more than 75% of the professional money managers out there.

So, read a few "investing for dummies" books. Learn the jargon enough to be able to converse. Open an account at Vanguard (or Fidelity, or whatever), and put your money into an S&P 500 index fund. Rinse and repeat. Once you are comfortable and have a basic understanding, you can invest in some other things. Small caps, growth stocks, international stocks, dividend growth stocks, value stocks...... Read a book or two a year about it, and just generally get comfortable managing your money.

Think of it this way. You will spend 40 years working for a living, and 30 years living off your investments. Wouldn't it make sense to know at least a little bit about how you are going to support yourself and your family for 30 years of your life?


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Retirement planning would be a lot easier if I knew when I will die.



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I'm in great shape as long as I only live 3 or 4 years.


I'm not cheap, I'm frugal.
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Dutch said it. I handed a good chunk of money to " A guy" that was recommended by two employees at my wives work. I lost at least 10k with him that didn't need to happen. Nothing good came out of that little firm in the small town. And like Ribka's mom said " but they're so nice" Yyyy aaahh, they are making 15-20% off of your money. The Vanguard total stock market exchange ( VTSMX) will give you a balanced fund of 3,400 companies. Some bond stocks and call it good.


But the fruits of the spirit is love, joy, peace, patience, kindness, goodness,faithfulness, Gentleness and self control. Against such things there is no law. Galations 5: 22&23
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Originally Posted by ihookem
Dutch said it. I handed a good chunk of money to " A guy" that was recommended by two employees at my wives work. I lost at least 10k with him that didn't need to happen. Nothing good came out of that little firm in the small town. And like Ribka's mom said " but they're so nice" Yyyy aaahh, they are making 15-20% off of your money. The Vanguard total stock market exchange ( VTSMX) will give you a balanced fund of 3,400 companies. Some bond stocks and call it good.


Funny, that. I have right at half of my IRA in VTSMX (admiral fund)............


Sic Semper Tyrannis
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Originally Posted by viking
So da wife and I are in our mid 40's. We each have mutual fund accounts. We started those a few years ago by rolling them under one umbrella, because we each had little retirement accounts from various employers and now they are under one roof.

Her employer and mine have R/A's, and we add to our mutual funds every year for the obvious reasons. What I would like to do is take 1k (I think that's the minimum) and go to Charles Schwab and have them invest in the stock market.

Now I know there will be some of you here that will say "do it yourself". Ah no, I don't know enough about it, stuff like that isn't my thing, thanks anyway.

So the advice I am asking is Charels Schwab a good place to start, or Edward Jones? Any other firms?

What I have noticed over the years is that it seems older guys and guys in the know that have investments don't want to give advice, almost secretive. I knew one old timer that suggested to me 20 some years ago to invest in mutual funds. I took his advice and got started at about 35. I don't understand why guys don't give advice to younger people. It's like it's they just want to be smug about it and look down their noses.


People are hesitant to give too much advice on directly what to buy or what to invest in because its really a personal choice, based on what you the investor knows and understands, what is risk tolerance is etc. You should not tell people what to put money in or they will feel you are at fault if it doesnt work out.

As far as paying Charles Scwab to invest in stocks for you... bad idea. If you do not understand in well, and know why it is a good investment, then you should not be owning it. Individual stocks are much riskier, and you should not just turn your money over to someone to invest. You need to know and understand it. if you do not want to spend the time to know, then stick to index mutual funds or something similar.

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