Investing 102

[GregWeld]

Originally Posted by CRCRFT78

I also jumped on the Roth IRA bandwagon today. Now I've got to get these accounts stuffed with some money and look towards acquiring some other assets that pay. Made a couple of stock moves (sell the duds and picked up some new ones) also. Looking forward to a financially fit 2012. We'll see where its at this time next year.

That's what I'm talkin' 'bout!! Good for you Jose!



I had an opportunity to spend some time with my kids while we were down in Scottsdale this last week -- Alex's GF's Dad is a broker - owns his own financial firm....(has no money and went broke recently because he gives advice but doesn't follow his own - the dumbass!) and I had the paperwork with me from just having closed on a commercial building for my Brother in law (I'm the banker, not the buyer). So we got talking over breakfast about "her" wanting to buy a new car etc. Her car is already a newer 2006 Mustang with low milage - SO I'm saying "why"? Why don't you SAVE those payments (her's in going to be paid off next month) for the next three years and pay cash for a car when you're ready. So the "payments" talk came up -- and I whipped out my amortization schedule for this building - and showed her (and Alex) HOW MUCH INTEREST I'M GOING TO COLLECT OVER THE NEXT FIVE YEARS! They were shocked (they're only 25 year old) - and when they saw page after page of large monthly payments, and the breakdown of how much each month was interest, and HOW LITTLE was paying towards principal -- I think it woke them both up!

She's already a "saver" -- but I was trying to show that if they put new cars off now - and saved instead -- that they could buy all kinds of cars LATER when it really matters more.