There's many reason's why I won't tell someone what THEY should do... Everyone on here is different AGE -- they have different INCOMES -- they LIVE in different parts of the country... etc. What it takes to retire in Palm Springs vs Minot ND is completely different. Some may have parents that will leave them with a nice chunk and others (like me) will have had to take care of their parents needs. EVERYONE IS DIFFERENT.
Now - on top of that - I'm trying to teach people how to fish - not catch them a fish.
Even more importantly - I want people to become responsible for their own choices. That way they understand why they picked what they did - and it's THEIR choice not mine. This only comes in to play when things ARE NOT going so well.
This thread was started at about the time where almost any stock you picked was going to go up. We were coming off a pretty severe decline in asset prices so a guy could really do no wrong.... Now we're leveling off a bit and we'll start to see a different kind of market. And more importantly we'll start to TEST the investors strategy and his fortitude for those death by a 1000 cuts kind of markets. The kind were you start to question yourself daily. Maybe that's not on us now - maybe it won't come for a couple more years - but it will come.
What I'm hoping is that by that time - whenever the market turns and starts to go against you - is that people will have seen that this is temporary - it's part and parcel of investing in ANYTHING and that they'll also have nice gains to buffer the fallout. So if a guy is up 40% --- and we have a selloff and it takes 10% off -- BIG WHOOP -- you're still UP... and those dividends are still grinding away.
What I'm really hoping for is that some will also be able to take advantage of an investment opportunity they might have otherwise passed on because of their fears... the fear of losing. Part of investing is to become confident in yourself - not cocky - but confident that you can understand the difference between gambling and investing and that you'll have learned that sometimes stuff fails - so we don't want to go all in. We want to be able to lose and still play another day.
It's early and I'm on my first cup of coffee so hope this makes sense.
Quote:
Originally Posted by glassman
Nice year end banter Greg! keep it comin, lookin, learning, and applying (a little at a time).
Started a pension fund for my employees a couple of months back. May i wish i could tell them to just do this, in fact i do but according to my accountant, "its illegal to advise them, you can get in trouble with the labor board"...so i dont "advise" them. I tell them to look listen and learn.
I have five funds now, i need to transfer three of them into "self directed" ira so i can do more of my own stock dividend paying pics....
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