Finance anyone?

[mudpuppy]

I'm glad this thread has sparked some good discussions. I hope it becomes an outlet where we can share our ideas all the way into retirement

Thanks for the recommendations. Some others I have on the list are A Random Walk Down Wall Street, The Richest Man in Babylon, and The Millionaire Next Door. I'm waiting for them to be returned to the library since I won't get rich slowly by spending money on something I'm probably only going to read once.

I've only just started investing in stocks and so only have about 5% into it. I figure that's enough for now until I learn the ins and outs of trading.

Millionaire Next Door is a great book. It isn't really about investing, but more about the philosophies and life outlooks that self-made millionaires tend to have. There is a sequel to it as well--I don't remember the name but it mentions that engineers are one of the most adept professions at becoming millionaires.

I'll have to look into your other suggestions.

Is there a way to contribute to a 401K that's not by your company? Ideally, I would contribute to the match, then maximize my Roth IRA, then contribute up to the $17,500 using Vanguard.

In most cases no, unfortunately. A few 401k's give the option of a "window" that lets you pass money into a brokerage account that you can then use to buy whatever you want. I wish mine did this but I don't think it's very common.

 

[engineergurl]

Millionaire Next Door is a great book. It isn't really about investing, but more about the philosophies and life outlooks that self-made millionaires tend to have. There is a sequel to it as well--I don't remember the name but it mentions that engineers are one of the most adept professions at becoming millionaires.

I know The Compound Effect and The Slight Edge both touch on the concepts of Millionaire Next Door, but think they are by different people...

 

[Ivory]

I'm glad this thread has sparked some good discussions. I hope it becomes an outlet where we can share our ideas all the way into retirement

Thanks for the recommendations. Some others I have on the list are A Random Walk Down Wall Street, The Richest Man in Babylon, and The Millionaire Next Door. I'm waiting for them to be returned to the library since I won't get rich slowly by spending money on something I'm probably only going to read once.

I've only just started investing in stocks and so only have about 5% into it. I figure that's enough for now until I learn the ins and outs of trading.

Millionaire Next Door is a great book. It isn't really about investing, but more about the philosophies and life outlooks that self-made millionaires tend to have. There is a sequel to it as well--I don't remember the name but it mentions that engineers are one of the most adept professions at becoming millionaires.

I'll have to look into your other suggestions.

Is there a way to contribute to a 401K that's not by your company? Ideally, I would contribute to the match, then maximize my Roth IRA, then contribute up to the $17,500 using Vanguard.

In most cases no, unfortunately. A few 401k's give the option of a "window" that lets you pass money into a brokerage account that you can then use to buy whatever you want. I wish mine did this but I don't think it's very common.

Some employer 401K plans have an option for you to set up self-directed brokerage account where you can move upto 75% of what you have into it. This allows you to invest in what ever you want. It also allows moving it back into your primary 401K plan at anytime. This is becoming more common every day. If your employer 401K plan does not have this capability, why not just ask your benefits department if they are planning on adding this to their 401K plan. They will either be clueless and look at you like you have 2 heads or they may look into providing it. I do not think it adds anymore cost to the employer.

 

[mevans154]

I have my 401k and IRA maxed out, and have been investing any extra money I accumulate with LendingClub.com. It's a peer-2-peer lending site which matches borrowers with investers.

I have been actively investing for 15 months now and have averaged a 15.5% return!

I like Lending Club because it's a income investment, where most of my 401k and IRA investments tend to be geared more towards growth.

Anyone else investing with Lending Club??

 

[Supe]

I haven't, but have heard only good things about it. Another automotive forum I'm on had an entire thread dedicated to it, and I was surprised to see the number of users who had success with it.

 

[MetsFan]

Some employer 401K plans have an option for you to set up self-directed brokerage account where you can move upto 75% of what you have into it. This allows you to invest in what ever you want. It also allows moving it back into your primary 401K plan at anytime. This is becoming more common every day. If your employer 401K plan does not have this capability, why not just ask your benefits department if they are planning on adding this to their 401K plan. They will either be clueless and look at you like you have 2 heads or they may look into providing it. I do not think it adds anymore cost to the employer.

Thanks, I'm going to ask and see what they say. The Merrill Lynch guy (plan administrator) told me they're having a meeting in August to go over changing the plan to a different platform, so there's some hope.

 

[snickerd3]

t rowe price handles our states deffered comp stuff...the state just recently decided they were no longer going to provide the service free of charge. So without making an annoucment they are now charging a $7.50 fee each quarter.

 

[mevans154]

I have some "ocean front property in Kansas" I'm selling if anyone wants to invest their hard earned money!!!

:rtft:

 

[Ship Wreck PE]

What about Arizona??

 

[matt267 PE]

I have some "ocean front property in Kansas" I'm selling if anyone wants to invest their hard earned money!!!

:rtft:

Make the investment now. After global warming completely melts the the polar ices, Kansas will have ocean front.

 

[Lumber Jim]

I have some "ocean front property in Kansas" I'm selling if anyone wants to invest their hard earned money!!!

:rtft:

Make the investment now. After global warming completely melts the the polar ices, Kansas will have ocean front.

where in Kansas could there ever be ocean front? The elevation change across the state is what, 4 feet, from the bottom of the ditches to the crown of the road?

 

[engineergurl]

I have some "ocean front property in Kansas" I'm selling if anyone wants to invest their hard earned money!!!

:rtft:

Make the investment now. After global warming completely melts the the polar ices, Kansas will have ocean front.

where in Kansas could there ever be ocean front? The elevation change across the state is what, 4 feet, from the bottom of the ditches to the crown of the road?

http://www.kansasfreeland.com/home

why bother invest money when you can get it for free....

 

[matt267 PE]

I have some "ocean front property in Kansas" I'm selling if anyone wants to invest their hard earned money!!!

:rtft:

Make the investment now. After global warming completely melts the the polar ices, Kansas will have ocean front.

where in Kansas could there ever be ocean front? The elevation change across the state is what, 4 feet, from the bottom of the ditches to the crown of the road?

A PLS would have to figure that out.

 

[matt267 PE]

http://www.kansasfreeland.com/home

why bother invest money when you can get it for free....

Does it come with free bacon, beer, and pie?

 

[engineergurl]

http://www.kansasfreeland.com/home

why bother invest money when you can get it for free....

Does it come with free bacon, beer, and pie?

I think that only is for the single guys looking for a mail order bride...

 

[matt267 PE]

hmm, damn, I'm out.

 

[ALBin517]

Why do we need to invest for retirement when the government is running social security for us?

 

[engineergurl]

There is going to be an economic collapse due to the grid going out after a solar flare caused by Putin anyway so all that fictional money will be gone and you'll only get by if you have guns, booze and gold

 

[Lumber Jim]

There is going to be an economic collapse due to the grid going out after a solar flare caused by Putin anyway so all that fictional money will be gone and you'll only get by if you have guns, booze and gold

does this have anything to do with Sharknados?

 

[engineergurl]

There is going to be an economic collapse due to the grid going out after a solar flare caused by Putin anyway so all that fictional money will be gone and you'll only get by if you have guns, booze and gold

does this have anything to do with Sharknados?

that is a phenomenon that is a suspected related side effect but only in theory as there has been no proven link