VIDEO ON MSN MONEY
I've been trading and investing for nearly 50 years and some of this information is common sense however some of these ideas were discounted years ago. Contrary to what was written you best know what the government is always doing. look how the coal industry has been hit by the EPA. They just changed the rules on ethanol which is great for refiners unless you hold Valerio which is the biggest ethanol refiner as well as oil refiner.
taxes are also very important not only by the account you use but it also effects the timing in trading.
it's not what you make but what you keep.
now as seniors we all got to watch out for all of the predatory free dinner seminar invitations that show up in the mail box proclaiming to show up for a free dinner and listen to them that we should take our nest eggs and hand it over to these predators (fraudsters) masquerading as experts in the investment world who are quite cute when they stand up and tell you "they" got it all figured out.
Only thing wrong with having lots of money...always someone trying to take it from you. Jeeze !
Cannt believe someone actually gets paid for what is otherwwise common sense
Some points: The average worker cannot save very much either in his 401k/403b, etc because he does not have that much income.
Wages have been stagnant for decades for the average worker, few or small raises while inflation has been high (gas prices, health care) Forget the CPI garbage.
Pensions, defined benefit have been eliminated. This means that one cannot get that extra money at retirement and is solely dependent on his and the company's 401k contributions and subsequent high risks like in 2008. Can you imagine being 62 in 2008, planning on retirement? Portfolio trashed, no pension and the boss says he has to let you go? Now look for a job at age 62 making your previous salary.
Investing for the average worker means sacrificing, not spending which means lower consumer spending which means fewer jobs and fewer business growth. Oh, you thought if everyone keeps that car clunker 15 years that car dealers would get rich? If everyone refused to eat out and eat cheaper at home, McDonalds would flourish?
The problem is wealth distribution. Simple....if the CEO makes 50 million and the 10,000 workers make min wage or slightly above.....how does that spur jobs and income and investments? It does not.
So, some of you thinking tyhat you have a good job and a good salary but everyone else should be making $2 and hour...but you and you should get a pension ...and noone else and that will make the economy grow...fooling yourself.
Unless you're a student of the subject, with privy information given to insiders, a purchase is a guess.
Mostly good advice, BUT you can reasonably time the market!!! I got out before 1987, 200-1, AND 2007 to 12!!! Use common sense and your gut. Sure, I left some money on the table by getting out early, BUT I didn't spend the years following crashes trying to gain back what I'd lost! For the last 5 years I've been playing with some stocks and 1/2 my nut in safe compunding CD's paying 5%+. Unfortunately, they're all maturing (except for some still earning 3.5% for their remaining 5 years) so I'll have to start looking at the market again AFTER the next correction that's going to come in the near turn. Joseph Kennedy once said that he was more interested in the return of his money than the return on it. When you've retired, the important thing is to protect your nut from serious loss!
BTW, I retired 8 years ago @ 54 and I'm satisfied with how I've done. Remember, pigs get fat and hogs get slaughtered! ;^)
Then add the fact that many Enrons are ouit there, many ponzi schemes going, cooked books, insider trading. Feds? Regulations? Oh, Republicans want to do away with any pesky regulations ...on your own.
So, tell me , when are you and your accountant going to personally inspect a company's books on site? Even then you might not pick up the scam. Was Maddoff a fluke? Certainly not, he was just the headliner, followed my hundreds on [ponzi schemes in the 2000 era.
Saving is a great idea, so is bartering and using jack legs for construction and illegals too.
My point is that frugality is great but don't expect if people become frugal that they will listen to your sales pitch from your company. Remember , they are probably better off without that new car, house, new clothing, etc and that will make your job more lucrative?
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