On 21/07/2010 7:35 PM, wrote:
On Wed, 21 Jul 2010 21:10:34 -0400, wrote:

On Wed, 21 Jul 2010 21:02:38 -0400, wrote:

On Wed, 21 Jul 2010 20:06:53 -0400, wrote:

I asked if your 401K had a money market fund. By putting your money in same, you
could have prevented the losses you took.

gee. where was your crystal ball in 2006?

I sold a lot of stock in 2006, you should have asked me.
I sold off my home builder stock in 2004. I am actually swimming in
that money (my pool)

gee. too bad most m iddle class americans will have to work 'til
they're 70


Only the dumb ones. I retired when I was 49 but I did have a little
hobby job for a few years after that.
My only advice for people is what a broker told me in 1973.
The first thing you should do with your money is pay off your debt.
That is an investment that pays you a double digit return every day.
Take the money you were going to be paying on that debt and invest it.
Even if you are only in a FDIC money market, you are money ahead.

Good advice. As getting right out of all debts is where you really
start to save the pile, like a reverse mortgage, keep paying the savings
account. Treat it like rent towards your retirement. And don't take on
frivious debt.

But people are stupid, TV is on sale for $999 so they charge it and
spend 24% (2% monthly) to have it. 2 years later they paid $1300 for
it. The wise person waits until they have the $999, and finds out it be
cheaper at $799...no interest. Almost 1/2 price!

It is all about dicipline. The twit should read the book "The Wealth
Barber", good book for turning beginers into winners.

http://en.wikipedia.org/wiki/The_Wealthy_Barber

--

Government has liberals, idealists and lawyers, but where is the common
sense?