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Other/Off-Topic => Off-Topic => Topic started by: Gunz on November 27, 2011, 11:54:38 AM
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I don't have one, so my plan is to rule the world!!!! How many of you have one set up? Are you counting on it to work out for you? I see plenty of older people getting by on theirs, but for the life of me I don't know of anybody my age that is setting one back. I know it takes discipline but it is truly hard in today's economics.
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I have a retirement, but I doubt I'll ever see it. I work till the day I die.
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I have a decent one set up and going. But I doubt it will be worth a shit. Ill be with aaron, rocking the scooter chair to work until we die.
Just hope what happened to dad doesnt happen to me. Get to retirement, have a big party, then have a fukin heart attack the next day. :mad: I know if he is out there somewhere he is pissed off as FERK :lol:
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ya i keep playin the lotto, i figure its about as good as investing
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not yet...
but thinking of investing in gold...
like real pieces of gold....
like coins and shit...
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not yet...
but thinking of investing in gold...
like real pieces of gold....
like coins and shit...
Thought you were gonna start busting out teeth of rap stars or something :lol:
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:rofl: :rofl: :rofl:
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Don't invest in gold or silver it varies too much. In my job I see too many people that have lost almost everything due to investing in variable products and not knowing enough about the stock market and financial advisors are rarely looking out for your best interest. if you want to grow your retirement find an indexed annuity with a reputable company. You will get the gains of the stock market without the risk of loss. I work with 20-24 people a week and it is heartbreaking to see how everything they worked for was lost to bad investments. If you're going to invest keep in mind the rule of 100. If you are 30 yrs old 30% of your money should be in a fixed account where it is safe, 50yrs old 50% and so on.
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Oh shit, who let the professional in here....................
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People told others to not invest in gold in the 90's and it's gone up 10fold. :shrug:
I don't think there's any one good answer. I got a 401k, market sucks right now, but I have time on my side I figure. :)
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Land & precious metals are the best long-term investments you can make IMHO.
Note: LONG TERM
if you are after a quick buck, look somewhere else.
In 10 years time my property will be worth about $2million, if I sell it now, $700k tops.
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If you're going to invest keep in mind the rule of 100. If you are 30 yrs old 30% of your money should be in a fixed account where it is safe, 50yrs old 50% and so on.
This equals to "Work your life away". I can't be apart of that. I want to enjoy life and if that means struggling at the end, then I except that challenge.
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People told others to not invest in gold in the 90's and it's gone up 10fold. :shrug:
I don't think there's any one good answer. I got a 401k, market sucks right now, but I have time on my side I figure. :)
I remember gold at $200/ounce in the late 90's and radio commercials talking about it going to $400 one of these days. Look at it now, what $1700/ounce. Cripes!!!!! Every person I know that has a 401k has taken it in the ass over the past 3 years.
Gold will drop in the next few years and you can bet I'll buy 100k worth of it as soon as it does.
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My parents have done this very well.
They never made big money, didn't buy new cars, or have the triendiest things.
But we never lacked for good food or cheer.
If they saw something special & they wanted it, they got it.
They put some money into property, other money into managed investments, & lived a good life, working hard, but not too hard to stop & play.
Some of the property investments saw only small returns, others very significant returns.
Sadly, many of the "professionally managed" investments lost money, some did break even, & they have a couple of others that sit in the "wait & see" basket..............
But they are now in their 70's & retired.
Dad still takes on projects.
He has 3 rules to any prospective customer
1/ it must have sufficient artistic or technical merit for his interest
2/ he has no deadlines
3/ it costs what he asks & there will be no negotiation on that.
Dad has a cousin here in the US who is unwell. I offered to buy dad a ticket to come see him, but he replied, don't worry, I can buy a ticket any time I want to go. Tim thinks it best that I wait till he is well again.....
They have upgraded their cars in the last 3 years, nothing too flashy, not new ones, but low mileage quality vehicles that should see them out.
I could live with that
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401k's have screwed so many people, I see it everyday and it happened to my father who worked at a company for over 25 years.
The rule of 100 is the minimum you should have in safe money for your age, if you feel a higher % should be safe then that is smart in my opinion.
Gold is at the highest its ever been but will drop down soon, leaving those who invested (say there was a 40% drop) having to gain 67% back to recover losses as with any variable investment.
Back in the 80's % rates were great for investing, even CD's were getting 12-18%! Now you are lucky to get 2% on a 60 month CD.
1998 was a good year, the S&P500 went up 26.67% there was a lot going on in the world of technology and russia was helping with inflation.
2008 the government begins to intervene in the U.S. financial system to avoid a crisis. The Federal Reserve outlines a $200 billion loan program that lets the country's biggest banks borrow Treasury securities at discounted rates and post mortgage-backed securities as collateral. March 16th the Federal Reserve approves a $30 billion loan to JPMorgan Chase so it can take over Bear Stearns, which is on the verge of collapse. so bail outs start, the goverment is trying to control the U. S. financial system and guess what happens the S&P500 goes down 38.49%.
Now in 2011 look what is going on in major events that affect investing, there are still bail outs being given, the Federal Reserve gave out more money to help spike inflation but banks are not loaning out money. The government is trying to control interest rates and thus no inflation is happening which means the economy is suffering, people are not spending money, and the stock market has plummeted. Not to mention what is going on with foreign currency.
Now I am no genius, nor a fortune teller but I can see a pattern in history, major events can either spike or drop the market which greatly affects investments. From 2000 to 2008 a person that put $100,000 in a fixed indexed GP Annuity(indexed off the S&P500) with an 10% cap made $40,634 (leaving them with $140,634), while someone who had that money in the stock market in the S&P500 (variable products) ended up with only $61,477 out of that $100,000. I don't know about you but I don't really like the volatility of the stock market. Maybe its because I visit with 20-24 people a week and see how it has effected them. I am now helping them plan their retirement and helping them protect their assets.
Its up to you how you invest your money, I know quite a few people who have done well in investments, their financial advisor is either a friend or family member that kept their accounts well maintained. Just be smart, do your research and keep up on your accounts and the market. :thumbs:
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my 401 k does fine. I will in now way be raking in the dough, but it is steadily growing. It took a small hit when the economy started "circling the bowl" :lol:
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401k's are screwing people who are retiring right now because the market sucks, but history shows it always bounces back. just in a funk. I'm not a financial advisor, but have access to one through work (My company does retirement plans for large companies).
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that's the point of it. Moderate Risk = moderate return. VS high risk-POSSIBLE high return...
I am not a gambler, so it works for me. My company matches my deposits. So Ill almost always be up. :thumbs:
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401k's are screwing people who are retiring right now because the market sucks, but history shows it always bounces back. just in a funk. I'm not a financial advisor, but have access to one through work (My company does retirement plans for large companies).
The question is, where will that market be when you want to retire? I agree that a 401k is a good thing becuase of the matching funds your company puts in (4% for NG), but securing funds once they are established is what Nikki is talking about.
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gold platinum silver and paladium are the only things worth investing in, i would stick with gold and silver just because of the intrinsic value. i am to poor to invest in such things, so i invest in lead copper and brass
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I am going to be that old man who has all them cool gadgets and lives off his own ingenuity!
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I am going to be that old man who has all them cool gadgets and lives off his own ingenuity!
all the cool gadgets???
if these are on your list, you will have plenty of "friends" round here
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Noted: Ideas for rally giveaways. :thumbs:
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I am going to be that old man who has all them cool gadgets and lives off his own ingenuity!
all the cool gadgets???
if these are on your list, you will have plenty of "friends" round here
I do need work horses if i give those to you guys will you come do all my shitty work for me?
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Does a bear shit in the woods?
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Nice phil, I'll have to score me some of those.
In all reality, I hope I can retire semi-early around 55-60. I don't need millions, just want to be able to live comfortably.
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hell i want to retire in a couple of months and do something i actually enjoy. thinking about tinkering with gunsmithing and doing my own mobile repair company. if i could work for myself i would enjoy life a hell of a lot more
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Oh Mikey... Gold dropped $100 an ounce, better go get you some!
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saw that one coming.
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Oh Mikey... Whores dropped $100 an Hour, better go get you some!
Sounds promising.......... :rofl:
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saw that one coming.
it will keep dropping for a bit, but the it is going to skyrocket even more than it is right now. the price will keep going up cause the fed keep printing more money. the more they devalue our dollar the higher gold will go. the value of gold isnt going up, gold is always worth the same amount, it is the value of our dollar that is going down and that is why it takes more dollars to buy the gold
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saw that one coming.
it will keep dropping for a bit, but the it is going to skyrocket even more than it is right now. the price will keep going up cause the fed keep printing more money. the more they devalue our dollar the higher gold will go. the value of gold isnt going up, gold is always worth the same amount, it is the value of our dollar that is going down and that is why it takes more dollars to buy the gold
well said dan. :thumbs: Got a kick out of going to the mall xmas shopping. There is now a cash for gold store..real classy joint, with hand made sign out front made with a sharpie LOL. People going in to cash in all their family heirlooms so they can waste their money on something else :lol:
I have this feeling that China is going to fu*k us... their economy is taking a dump.. no more cheap celphones, ipads and tvs LOL but really...some of the manufacturers that rely on those cheap parts... it wont be good.
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I have this feeling that China is going to fu*k us...
umm they have been phucking us for 30 years. our government is just to stupid to fight back. soon the us government will have to start giving land to china if the world lasts long enough. but most of our money is borrowed from central banks that just make the money magically appear. so we owe them real money for the fake money they gave us. our real national debt is around 55 trillion not the 15 they always talk about. that is just a small chunk of our debt. buy guns bullets and canned food, the shit has been thrown and now we are just waiting for it to connect with the fan. merry christmas to all
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I have this feeling that China is going to fu*k us...
umm they have been phucking us for 30 years. our government is just to stupid to fight back. soon the us government will have to start giving land to china if the world lasts long enough. but most of our money is borrowed from central banks that just make the money magically appear. so we owe them real money for the fake money they gave us. our real national debt is around 55 trillion not the 15 they always talk about. that is just a small chunk of our debt. buy guns bullets and canned food, the shit has been thrown and now we are just waiting for it to connect with the fan. merry christmas to all
This is what I meant in not so many words. :thumbs:
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ya i just felt the need to rant
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precious metals = lead, copper and brass :)
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I hope you realise that in buying bullets, you are boosting the chinese economy............
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great :cry:
I think phucker and gunz are keeping their economy alive :funyun:
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nah, Walmart is the devil. hmm... what if I buy my ammo from Walmart?
I don't need a retirement plan, I'll just work till I croak.
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Zombie thread? Yeah zombie thread. My fault for searching out "ipad" trying to find something I just posted.
Nikki's input on annuities is interesting, I'm considering something like that for my non-retirement investments (no point in buying into an annuity to tax shelter when 401k and IRAs already provide that) and I'm seeing lots of pros and cons. Anyone here bought into a fixed rate or variable annuity? They seem to get lumped in with the same con-men selling whole/universal life insurance as a retirement vehicle so I've typically steered clear.
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<---- buys homes for a retirement income
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i put mine all into drug trafficking. :thumbs:
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Zombie thread? Yeah zombie thread. My fault for searching out "ipad" trying to find something I just posted.
Nikki's input on annuities is interesting, I'm considering something like that for my non-retirement investments (no point in buying into an annuity to tax shelter when 401k and IRAs already provide that) and I'm seeing lots of pros and cons. Anyone here bought into a fixed rate or variable annuity? They seem to get lumped in with the same con-men selling whole/universal life insurance as a retirement vehicle so I've typically steered clear.
Zombie thread? Yeah zombie thread. My fault for searching out "ipad" trying to find something I just posted.
Nikki's input on annuities is interesting, I'm considering something like that for my non-retirement investments (no point in buying into an annuity to tax shelter when 401k and IRAs already provide that) and I'm seeing lots of pros and cons. Anyone here bought into a fixed rate or variable annuity? They seem to get lumped in with the same con-men selling whole/universal life insurance as a retirement vehicle so I've typically steered clear.
I have not. My money right now for "retirement" is tied up into the general stock market, Bitcoin, and a roth for the wife. I've done no research on an annuity or what it is.. I may have to. Anyone have knowledge on what it is even?
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Do you still have money in bitcoin, Krandall?
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Do you still have money in bitcoin, Krandall?
I still have a decent amount in bitcoin. However not nearly as much as I did about two years ago. I lost a decent amount due to some unforeseen circumstances and I sold a bunch as well prior to having our kid. I kept a few things just because :)
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MANY people lost a decent amount!
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kinda fun looking back at the old posts..
gold was $1745 an ounce.. now around $1100
we were bitching about China.... now china is getting all pissy at Trump for sanctions...
401k's are crazy now... they were mushy then
cool looking back!
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Naw, you don't lose bitcoin if you don't sell them. I physically LOST some bitcoin. Like not oohhh it was worth 20k and I sold it for 8k.
I lost just about half of my actual bitcoin. Long story. haha