mutual funds

[musclestack]

Do you guys feel that the economy is finally stabalizing? I had put some money in mutual funds a year ago. The first 3 quarters, it wasn't doing so well; actually lost some money. Then, the last quarter, I was up like $500. Do you think it would be wise to put more money in now?

[Kawigirl]

I have....but I guess it depends on your portfolio and how its dispersed. And, I have made gains (dispite small losses) within a year alone.

[VegasRenegade]

Well I lost 50% of my portfolio during the crash. took it awaw from my broker and day traded it got it up 20% above where it was before the downturn. gave it back to him for 2010 and it has just held its own. I Made the money when the big gains were out there. I don't expect much for the next few years lots of ups and downs. I just put everthing into a gaurantee 6% annuity.That resets daily and can not go back down. I will be hapy with the 6% but it up 12% for the first two months.

Depends on your time horizon.

[musclestack]

Well, I'm planning on taking it out within 3 years. Your plan sounds interesting though. Anything specifically I should ask my financial advisor when asking him about an annuity fund?? Is that what it's called anyway: annuity fund??? Just looking to get pointed in the right direction.........if there is one.

[VegasRenegade]

see pm

[bigpapabuff]

The market is performing well, just haven't seen enough in the unemployment numbers. But the market is solid.

[coonhunter]

Its crazy to me you would give your money to anyone and trust their stewardship over your own. Vegas said it himself he made his money back himself and gave it back to his planner until he loses enough of it that he takes it back and makes more. One of the biggest things I hate about financial planners is that most of them are broke and drive a worse car than I did in school and they get paid weather they make you money or lose it all for you. What a con right? I would suggest getting some education about what you want to do with your money and then do it your self. The most expensive education you will ever pay for is letting someone else spend your money.

[VegasRenegade]

Its crazy to me you would give your money to anyone and trust their stewardship over your own. Vegas said it himself he made his money back himself and gave it back to his planner until he loses enough of it that he takes it back and makes more. One of the biggest things I hate about financial planners is that most of them are broke and drive a worse car than I did in school and they get paid weather they make you money or lose it all for you. What a con right? I would suggest getting some education about what you want to do with your money and then do it your self. The most expensive education you will ever pay for is letting someone else spend your money.

Well said the problem is that unless you have very big bucks the fees to trade kill you.
I was fornuate in that at first I was paying a straight fee. No / trade cost. since the program was set up to be buy and hold not much trading. When I took it over it was still in the same system only I was pulling the triger
still no per trade cost. I was micro trading buying and selling very small amounts of shares and keeping very tight stops. after made all the money 3 times better than the best Manager in this very big company. They told me I had to pay a / trade fee of 9 bucks. My coices were to leave them and go to day trading program. Even the cheepest of those would have still made me trade less. So I gave it back to them. The thing is no one will watch your money as close as you do. Nobody nobody nobody. I did well but could have done much much better with more guts. I bough 10,000 shares of ford at 1.89 Sold it 3.50 bought it again at 3.70 sole it at 5.00 Should have held that one for sure. Hind site is 20/20 I do not think there will be a big run in any directions in the near future. Great market to day trade if you have the bucks and time and I do mean time. For the year I did it I was montoring things 24/7.

[Times Roman]

buy low sell high.... things are pretty low right now, a good time to buy

I have several mutual funds and they lost 50% as well (rough estimate), but here lately, I'm seeing solid gains, and I'm glad I didn't pull out prematurely. I had to cash one in recently, just a little one at $11k due to job loss, but a bloke;s gotta do what he has to do to survive. and by the way... there is a penalty of 10% you will pay due to IRS code section 8. and full boat on income tax to boot.

[VegasRenegade]

buy low sell high.... things are pretty low right now, a good time to buy

I have several mutual funds and they lost 50% as well (rough estimate), but here lately, I'm seeing solid gains, and I'm glad I didn't pull out prematurely. I had to cash one in recently, just a little one at $11k due to job loss, but a bloke;s gotta do what he has to do to survive. and by the way... there is a penalty of 10% you will pay due to IRS code section 8. and full boat on income tax to boot.

If your funds are in an IRA and you are under 59.5 you get the penalty. Mutual funds are a good way to go if you do not have the time or desire to educate yourself and pick stocks. All the money I made back was on individual stocks or etfs

[Times Roman]

Ok... I salute you. You seem to know a little something. What, may I ask, do you do for a profession?

You are correct. I get loosey goosey with how I talk on this forum, but I actually am in "the field" so to speak. All my mutual funds are in a protected 401(k). It should tip you off i'm referring to this the way the IRS does.....

[VegasRenegade]

Ok... I salute you. You seem to know a little something. What, may I ask, do you do for a profession?

You are correct. I get loosey goosey with how I talk on this forum, but I actually am in "the field" so to speak. All my mutual funds are in a protected 401(k). It should tip you off i'm referring to this the way the IRS does.....

So are you saying you work for the IRS or are you a tax Lawer? Maybe investment banker/

Iam am getting close to retirment. Which is why I decided I could not just wait for 401/k to go back up
had to get aggressive with it. So I did a lot of studing. No one cares about your money they way you do.

[Times Roman]

just a simple CPA that worked with clients for several years. A majority of my time with CPA firms involved taxation... for 6 months I was a tax research analyst at the firm. but i've (of course) done auditing and am a whiz at all the rest of the crap.

I commend you for taking the time to actually learn your craft.

[VegasRenegade]

Investing your own money is a lot like using roids. You better know what your doing or you get suffer perment damage.

Been thinking of posting a Money to do list for the kids on this site. But most would not listing anyway. Hard for the young to think about the future.

[Times Roman]

there are only a few of us older blokes here on the board,... if that is you in your avi, i've got some catching up to do....

if my current plan holds,..;; I should be able to retire inabout 6 years. not total luxury, but very comfortable.....

[fattymcbutterpants]

Investing your own money is a lot like using roids. You better know what your doing or you get suffer perment damage.

Been thinking of posting a Money to do list for the kids on this site. But most would not listing anyway. Hard for the young to think about the future.

I invest with Etrade and love it. Im 18 so I am learning still but I know a pretty good bit. My grandfather and uncle have taught me alot about it all and when I enjoy something like this I research it like crazy and try to learn everything I can about it all. I just bought Cisco (CSCO) and GenOn(GEN) the other day they had pretty good fundamentals and were priced well below fair value so I am hoping to get a good return on them. Until those I pretty much just hung out with the penny stocks since I didnt have much money lol. I was sooooo unbelievably mad this morning though. I almost bought 3,000,000 shares of this one penny stock (BANI) yesterday but didnt because I didnt wanna get stuck in it....well how about if I had my money would have tripled before today was over with, i would have turned 300 into 900...sad day lol but its all good. I am hoping GenOn takes off though.

[BrettVarvre]

Investing your own money is a lot like using roids. You better know what your doing or you get suffer perment damage.

Been thinking of posting a Money to do list for the kids on this site. But most would not listing anyway. Hard for the young to think about the future.

you seem to know what your doing I'd be interested in some tips on where to start. I have been out of college for a year in the real job world for 6 months. I distrust financial planners because I almost got hired to work for a firm and it all seemed like the movie boiler room to me.

[VegasRenegade]

there are only a few of us older blokes here on the board,... if that is you in your avi, i've got some catching up to do....

if my current plan holds,..;; I should be able to retire inabout 6 years. not total luxury, but very comfortable.....

I wish that was me it is Manohar Aich He is still alive 99 years old now. Below is a link to the thread about him.


http://forums.steroid.com/showthread...hoto-is-my-avi

[VegasRenegade]

Glad to here a couple of young guys are interested. I wish I would have been I would be much better off than I am now. I will try to put somthing basics together.

It is not a get rich quick idea. It is all about the power of saving investing and the huge power of time.

[Tigershark]

My retirement plan is invested in mutual funds. Wish I could say I see a increase but I do not. It has only profitted $132 last month. 3 years ago it was over $600 a month profit.

[Tigershark]

My retirement plan is invested in mutual funds. Wish I could say I see a increase but I do not. It has only profitted $132 last month. 3 years ago it was over $600 a month profit.

[Times Roman]

if your mutual funds are not performing, then switch.

[BrettVarvre]

I currently have $280.56 in my 401 k. booyah!

[VegasRenegade]

I currently have $280.56 in my 401 k. booyah!

70

That 280.56 more than a lot of folks