I used to be the same way use cash for all the small stuff. Now I use plastic for as much as I can. I have credit cards with all the Airlines I use. That way I'm getting some flyer miles with every purchase. I flew to Cabo for $80 and I flew to Dominican Republic for $110.
I few years back I used to have a GM card that I'd used to use the money earned towards vehicles.

That's Gwen's theory -- every buck is a mile on the plane....

I use plastic as much as possible. I get 1.5% cash back with my current card. I don't keep a balance and I pay off the bill at the end of the month. There are some things that it doesn't make sense to use it for, for instance, I tried to pay my mortgage with a credit card, but they charge a fee that worked out to around 2.5% to do so. The cash back rate didn't justify it.
I use that 1.5% cash back for car parts.

does one buy more if your already in both, what to do what to do.

TSLA at an almost all time high today, hmmm.

as everyone else has mentioned this is an interesting thread, good info.

401k roll over
 

Hey guys, good info on here.

I need some investing advice

I just recently switched jobs, so my old 401k is now just sitting there waiting to get picked at by the companies fees.

My new company offers a nice 401k as well, AND free financial management.

So today I talked to the guy who does all this for us.

He was talking about either rolling my old 401k into my new 401k OR rolling it into an IRA

He suggests the IRA because you can make more choices, thus have a higher potential of making more money.

Im a little leery, as I am more conservative when it comes to money and the fees and such of this type of investment are a little unnerving.

Is this guy giving me good advice? Or is he putting me on a path that HE will make the most money from?

Thanks

It always pisses me off when people get antsy because a stock they own goes up... WTF... isn't that what you want it to do?? Or a hot stock hits a new high... think about this for one minute. This was an IPO.... so every time it goes up after the IPO price - that's pretty much a "new high". Obviously "other" investors are willing to pay more money for the shares... So shouldn't this be GREAT NEWS?!?!?

Stocks setting new highs - and splitting - and setting new highs ---- DUDE!! That's how people become millionaires. I can recall dozens and dozens of stocks that have made people millions for just this very reason. I know a guy that invested 20K in Microsoft and it made him a millionaire. Why? Because it just kept going up. That's a GOOD thing not something that should be looked at with disdain.

#1 -- You don't tell us much about who "He" is. Is this someone that works for the company and manages the 401K? Who is he?


#2 -- You could have "rolled" your 401K into an IRA immediately after departing the last company and have been running it "self directed". You don't need anyone to run an IRA for you. So there would be no "fees" etc to pick you apart.

#3 -- Nobody can tell you what to do - nobody knows your personal financial situation. Read this thread and learn -- so go back and start at page one.

I forgot to respond to your question about buying more of something that you already hold. Reading this thread will explain the 5% rule. You shouldn't have more than 5% of your total investable funds in any one name. Obviously - this rule is nothing more than a guideline. If you have 10 grand invested and only have 4 names - that would put 25% into each name. When you're just beginning there's no way to keep to that 5% rule. 5% is more for once someone has 100K invested.

BTW --- My other post responding to your TESLA statement about it hitting an all time high... when I say I'm pissed off.... that DOES NOT mean at you for your post. It's a statement about investing in general. And more importantly - there is absolutely NOTHING wrong with the market going up or a stock going up! Nothing. Pull up a chart of the stock market since 1929.... UP is the general direction -- like houses - like inflation - like EVERYTHING - Gas - your electric bill. About the only thing that's gone down is Flat screen TV's and Cell phones. LOL


I've "averaged up" in many many names in the market. It just is a mental thing to buy more when stuff keeps going up. But it's doing EXACTLY what you want it to do!

1), the guy is an private investment guy that handles the companies 401k, he is a part of Baird Financial

2) To be completely honest I am really intimidated by all of this, never having done it, nor knowing anyone who has done it. Hence why I havent touched my old 401k, which is with Fidelity in one of their target date funds. About a month after being hired on, my new company had their 401k review and the investment guy talked to me afterward about possible strategies.

3) thats alot of reading :wow:

haha thanks

1) Baird Financial is a HUGE firm with BILLIONS under management. Don't be afraid of them.

2) Read this thread from start to finish - take your time - and you'll be a lot less intimidated

3) It's YOUR future we're talking about... given the amount of time you have to live in retirement... the 400+ pages of this thread is childs play.

4) You have an obligation to yourself and your family to get a grip on your finances. It's EASY... and more importantly - IT'S THE MOST IMPORTANT THING YOU CAN EVER DO.

Like anything else - we all do things that we start out knowing nothing about. We all manage to educate ourselves about clutches - motors - tires - paint etc. Except that NONE of those are very important. Yet me manage to dive in and get involved.