Financial advisor???

[dcunited]

As a financial advisor with my own firm I can confirm that much of the advice on the thread is sound. Low cost ETFs providing exposure to various equity markets is the way to go. A sound investment plan is pretty simple. I can also confirm that you should never underestimate a person's ability to act not in their own best interest. I could also say the best way to good health is to eat less, eat more greens, exercise more, and pretty sure most people won't follow that advice either.

If you are motivated and willing to stick with a plan, then investing (in general) is pretty simple. Simple doesn't mean it's easy as last year demonstrated. IMO if you think you should be doing something..and 2 years pass and you have the exact same thought because you haven't done anything..yeah you should talk to someone.

Other than that when it comes to investing there is no need to reinvent the wheel. Keep it simple. If you want to go crypto, biotech, SPACs, weed, then have at it. I'd suggest keeping it in the single digits exposure or your overall portfolio. In my experience one the first rules of investing..as in life..is don't fvck up. After you have accomplished rule one, you can work towards meaningful growth.

 

[Northern_Shores]

As a financial advisor with my own firm

As someone who doesn't surf that is!

 

[dcunited]

Do you mean 'doesn't surf' or 'doesn't surf well?' If the latter..then yeah that's pretty accurate. I work more hours in my role than any other job I'd ever had. But I have tons of flexibility which allows me to write this with a fish taco and beer near at hand after a day in the water.

I also squat, deadlift and can out bench anyone on this board. And I can expense this trip because I paddle around in the lineup asking people 'hey have you thought about a rollover IRA for that old 401k?' People give me space pretty quickly.

 

[menobrah]

bet you shred so hard you break your stick yah

 

[silentbutdeadly]

Do you mean 'doesn't surf' or 'doesn't surf well?' If the latter..then yeah that's pretty accurate. I work more hours in my role than any other job I'd ever had. But I have tons of flexibility which allows me to write this with a fish taco and beer near at hand after a day in the water.

I also squat, deadlift and can out bench anyone on this board. And I can expense this trip because I paddle around in the lineup asking people 'hey have you thought about a rollover IRA for that old 401k?' People give me space pretty quickly.

that was a pretty awesome post

 

[Northern_Shores]

Powerlifting is the best on-land training for surfing. Beats the carver skateboards.

 

[SurfFuerteventura]

All of your squats are belong to Stefan, or Norwaysarfer, not sure which.

 

[Northern_Shores]

Squat on this Twiglegs Moneysatan.

 

[SurfFuerteventura]

Squat on this Twiglegs Moneysatan.

Woosey had help. Surely VM or Duffymon can out squat that interwebs strength man

 

[Northern_Shores]

Woosey had help. Surely VM or Duffymon can out squat that interwebs strength man

His knee is injured so he had to stop competing and went down from 168kg to 90kg. Before the weighlifting he used to be a very good snowboarder, but he had some knee accident from it.

 

[SurfFuerteventura]

Excuses excuses.

 

[PRCD]

Put 90% in VTSMX and 10% in VBMFX. Every year, re-balance. Move more into bonds the closer you get to retirement. REITs are tax inefficient.

I have a managed Vanguard account and it has been great considering all of the accounts I would have to re-balance across. They also have great modeling software.

If you want to read more, get "A Random Walk Down Wall Street," but I put the summary in the first sentence.

You sound like you're much further in the black than most people on here, so be careful who you get advice from.

Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street: Fred Schwed, Peter Arno, Jason Zweig: 9780471770893: Amazon.com: Books

Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street [Fred Schwed, Peter Arno, Jason Zweig] on Amazon.com. *FREE* shipping on qualifying offers. Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street

www.amazon.com

 

[hammies]

I just opened a Vanguard Roth for my 21yo. Seeded it with a thousand, she's having them take $50 out every paycheck. Put it all in Vanguard Target Retirement 2065 - very low fees and a sliding mix between equity and bond index funds. Told her to forget about it for the next couple of decades.

 

[VonMeister]

Chevron is way undervalued and if bought today will pay you 6% on your money.

 

[Mr Doof]

Not going to counter any advice here, just going to repeat/sum up what I've done.

1 Read a few finance/stock market books that covered the various theories of marketplace economics, planning for retirement, as well as two or three 'how-to personal finance books, etc. Perhaps most useful was understanding the lingo, better concept of time/fees/returns. Also helped reading before bed as a sleep aid. Libraries have these books.

2 Had a few ideas what I wanted to do with the $ in short/medium/long term before doing anything

3 Upped workplace retirement $ when able; get a raise meant more $ into retirement and not always towards new surfboards/etc

4 Penny saved penny earned. People toss their money away on stupid stuff so don't be like that. Develop style not follow fashion. Or as a good retired friend said: I'm more interesting than my stuff.

5 Get a Roth IRA sooner rather than later. Various low cost (management fee related) ETFs are sensible option as are some mutual funds. Can't take out till, what 59.5 yrs old, so you better not need it until then. Think maximum allotment in 2021 is $6K. Then again, you can make your 'own' index fund of selected stock, but, it will be less diversified with only $6K...which can go your way or not.

6 Lots of finance companies want your money. Paying "wealth managers" (who simply buying existing financial instruments and hold your hand) can be the right fit for some. They exist at all levels of the finance industry. I feel comfy enough to bypass these people and buy the "wholesale" product from the "manufacturer" when able. Fees add up over time.

7 Your best investment is you. Stay healthy, enjoy life, make new friends at all stages of your life, and so forth. All the money in the world won' help you sleep at night if you don't have peace of mind.

Edit:

For the post below....market snapshot 15 seconds ago:

 

[Sharky]

This thread is a giant sell signal.

 

[b.r.]

Not going to counter any advice here, just going to repeat/sum up what I've done.

1 Read a few finance/stock market books that covered the various theories of marketplace economics, planning for retirement, as well as two or three 'how-to personal finance books, etc. Perhaps most useful was understanding the lingo, better concept of time/fees/returns. Also helped reading before bed as a sleep aid. Libraries have these books.

2 Had a few ideas what I wanted to do with the $ in short/medium/long term before doing anything

3 Upped workplace retirement $ when able; get a raise meant more $ into retirement and not always towards new surfboards/etc

4 Penny saved penny earned. People toss their money away on stupid stuff so don't be like that. Develop style not follow fashion. Or as a good retired friend said: I'm more interesting than my stuff.

5 Get a Roth IRA sooner rather than later. Various low cost (management fee related) ETFs are sensible option as are some mutual funds. Can't take out till, what 59.5 yrs old, so you better not need it until then. Think maximum allotment in 2021 is $6K. Then again, you can make your 'own' index fund of selected stock, but, it will be less diversified with only $6K...which can go your way or not.

6 Lots of finance companies want your money. Paying "wealth managers" (who simply buying existing financial instruments and hold your hand) can be the right fit for some. They exist at all levels of the finance industry. I feel comfy enough to bypass these people and buy the "wholesale" product from the "manufacturer" when able. Fees add up over time.

7 Your best investment is you. Stay healthy, enjoy life, make new friends at all stages of your life, and so forth. All the money in the world won' help you sleep at night if you don't have peace of mind.

Edit:

For the post below....market snapshot 15 seconds ago:

View attachment 113198

buy the dip! I prefer salsa, but dips ok.

 

[sdsurfrat]

Put 90% in VTSMX and 10% in VBMFX. Every year, re-balance. Move more into bonds the closer you get to retirement. REITs are tax inefficient.

I have a managed Vanguard account and it has been great considering all of the accounts I would have to re-balance across. They also have great modeling software.

If you want to read more, get "A Random Walk Down Wall Street," but I put the summary in the first sentence.

You sound like you're much further in the black than most people on here, so be careful who you get advice from.

Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street: Fred Schwed, Peter Arno, Jason Zweig: 9780471770893: Amazon.com: Books

Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street [Fred Schwed, Peter Arno, Jason Zweig] on Amazon.com. *FREE* shipping on qualifying offers. Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street

www.amazon.com

What does v-guard have to do with b-rock??

 

[bluemarlin04]

Do you mean 'doesn't surf' or 'doesn't surf well?' If the latter..then yeah that's pretty accurate. I work more hours in my role than any other job I'd ever had. But I have tons of flexibility which allows me to write this with a fish taco and beer near at hand after a day in the water.

I also squat, deadlift and can out bench anyone on this board. And I can expense this trip because I paddle around in the lineup asking people 'hey have you thought about a rollover IRA for that old 401k?' People give me space pretty quickly.

Yes, but… Could you take Tyson in a fight?

 

[Mr Doof]

A lot of people our age (mid thirties) are hesitant to get into the stock market due to all the financial BS that happened right as we were entering the job market. All you need to do is look at a chart of what the market's done since then to understand that you need to get over that. Yes, there will be draw downs at some point in the future, but those are just buying opportunities. FED policy these days pretty much guarantees up only.

Some of the suggestions here reflect older ways of thinking and doing things (keeping bonds in a normal portfolio... no reason for that IMO.)

Vanguard is a decent brokerage option, but is by no means the only way. They all offer free trading and most have a better UI these days. You'll likely want to buy and hold the same stuff no matter where you open it. For example, having a Vanguard account gives you access to Vanguard Total World mutual fund Admiral Shares with a .1% expense ratio. The same fund is available as an ETF with .08% expense ratio which you can hold anywhere.

I'd look into a mix of an S&P fund, small/mid cap funds, and international market funds and figure out your allocations based on your own research.

Assuming you anticipate drawing a lower amount of money from your retirement accounts when your retire than what your yearly salary is today, you might look into maxing out your 403b contributions (max is $19,500 this year) to get your tax liability as low as possible. From there you can add similar investments in a post-tax brokerage account with additional investment funds.

All that said, I am just some dude on the internet, so don't listen to me. Your research may well lead you to similar conclusions to the ones I've drawn, but you've got to get there yourself.

FOR ME, the right portfolio for a guy our age who owns his home is the stock market investment mix I mentioned, plus as much crypto exposure as is comfortable for each person's own situation and understanding. Enough cash in savings for 4-6 months of living expenses as a safety net and that's it. In conclusion, fook bonds.

Was not fun for a lot of people from mid-2000 through 2014...there went my shot at extra early retirement. (edit--scribbled on the image below wrong....it is 2000 through 2014, not 2020-2014)

50 yrs of the S & P 500

Chevron is way undervalued and if bought today will pay you 6% on your money.

I like it when people state their positions on threads like this. When there is some skin the game is more interesting to talk about.

This was said in 2018 about CVX:

"a “compelling entry point” for investors"




Now, it is almost three years later and the chart says:



Their dividend are good, but if you just bought today, you missed the $1.34 June 10 outlay, oh well, Sept 10 isn't that far off.





In any case, good luck and hope you do well with this.