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#3 Posted on 22.2.05 1547.48 Reposted on: 22.2.12 1548.16
From Scott Adams' book, "Dilbert and the Way of the Weasel."
"Everything You Need to Know about Personal Investing Make a will. Pay off your credit card balance. Get term life insurance if you have a family to support. Fund your company 401K to the maximum. Fund your IRA to the maximum. Buy a house if you want to live in a house and can afford it. Put six months' expenses in a money market account. Take whatever money is left over and invest 70 percent in a stock index fund and 30 percent in a bond fund through any discount brokerage company and never touch it until retirement. If any of this confuses you, or you have something special going on, hire a fee-based financial planner, not one who charges a percentage of your portfolio.
Everything else you might want to do with your money is a bad idea compared to what's on my one-page summary. You want an annuity? It's worse. You want a whole life insurance policy? It's worse. You want to invest in individual stocks? It's worse. You want a managed mutual fund instead of an index fund? It's worse. I could go on, but you get the point."
Since: 16.1.02 From: The Off-Center of the Universe (aka Philadelphia)
Since last post: 1599 days Last activity: 1397 days
#4 Posted on 22.2.05 1635.40 Reposted on: 22.2.12 1636.33
Yeah, that pretty much sums it up. Unless you have inside information, picking individual stocks is usually more risky than it's worth (although if you're young, there's nothing wrong with taking a risk, as long as you don't bet the farm on it).
I've found the Motley Fool (www.fool.com) a fairly good source of information and advice on stuff like how to read a company's financial statements, but don't buy any of their reports, and for Goddess's sake don't put any credence in anything you read on the message boards.
#5 Posted on 22.2.05 1948.36 Reposted on: 22.2.12 1949.01
Originally posted by LionJeetSinghSomething that gives a newbie good a vast knowledge and helpful tips.
Basically, if you have money to invest, you're better off looking for a quality investment management guy (or gal), rather than trying to navigate the market on your own. As Shem alluded to, you're basically on the lowest end of the totem poll with regards to the availability of information & the ability to act on it.
If you're looking to just play with a few dollars & want to learn how the market works that's one thing, but if you're seriously looking to start investing your money for the long-term you should seek out a good money manager.
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