Quote:
Originally Posted by glassman
Just the fact that you guys are young and thinking about this and doing something about this is very very good for you and your future families. Most people these days just dont pay attention (sorta keep their heads in the sand) and they need to cause ya just cant relie on Uncle Sam 30 years from now.
My brother told me "it's not timing the market, it's time in the market".
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thanks for the encouragement, Im just trying to start off on the right foot.
So I finished up reading the entire thread, man that was the most ive ever read on a forum.
And I think I have a plan
1) I drafted an email to the Baird guy, asking him what the base costs of having the IRA with them will be, and what are the costs of the mutual funds he suggested, I also asked him why he suggested not to do a Roth, why he suggested mutual funds
2) my last 401k isnt very big, because my former employer only matched 50% up to 3%, so I was thinking maybe to use half of it to open a Roth, and half in an IRA, that way I would limit my tax liability, but also have that extra bucket of money (with a higher earning potential). I looked and I think Im eligible for one
3) I started writing down the stuff/brands I like and where I shop and started going and looking at their stock. Also I used google finance to "make" a portfolio, as well as a GregWeld portfolio with the stocks he suggested just to compare. I think it would be better than what the Baird guy has suggested.
Finally, a couple questions.
Alot of the earlier posts in here are from 2011-2012. Has anything majorly changed in the financial world that would change some of the theory?
I was thinking maybe to have 1 mutual fund, and then the rest stocks, is that a balanced approach? Or can I achieve the balance with full stocks?
Thanks guys, great thread