Investing 102

[Tony_SS]

Speaking of BoA...

http://blogs.wsj.com/moneybeat/2014/...ica-citigroup/

[GregWeld]

Very good insightful info Todd!


I've always said that investing is made easy - if you just look around at what you do every day.... and who you deal with on a regular basis. Gasoline - cars - banks - stores. Do you like the way they do business? Do you like the feel of the store and the merchandise? Are they busy? Do you feel good about doing business with them. Nothing too rocket science about that... because chances are if you do -- others feel the same way. Then you dig a little deeper and see how their stock stacks up to the competition...

Originally Posted by Vegas69

I've personally dealt with both banks many times throughout my real estate career. B of A's name is mud in the business. Agents don't want to accept offers from buyer's that are obtaining mortgages from them. They tend to close way late. On the short sale side of the equation (debt forgiveness), they are a bit weak in my opinion. They just don't fight very hard.

Wells Fargo isn't perfect on the lending side but I've had more good experiences than bad. I've also dealt with them on short sales and they have required cash contributions to short sale, even in hardship situations.

I do bank with Wells and have for 15 years. I've always been happy with them and many times I'm greeted with a smile and hello when I walk in the door.

Sounds like a company that meets the conditions Greg has laid out.

[GregWeld]

Just waiting for a CNBC report on --- "you need way more than a million dollars to retire on".... will be interesting to see what they say.


I have been saying this for a long time... A guy can only make 5% or so on a million bucks -- that's 50 grand a year GROSS.... you will be paying taxes on that gross! 50 grand a year -- is now NET 40 grand or less depending on where you live. Add some Social Security -- and factor in INFLATION.... Retirement isn't going to be the golden years. You're going to need a RISING income -- and capital growth... in order to live for an additional 20 plus years after retirement.


I know this info sucks - but facts sometimes suck.