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General Discussion>Investing gurus... need some resources
BUCASmoker 08:32 PM 09-14-2009
So as a recent college graduate, and now making a steady salary, i've come across money for the first time in my life.

Does anyone know of any good resources that I can educate myself with to get some financial advice on investing/getting more money with the money I have now?

I bought "The Complete Idiot's Guide to Investing"... but it really is a complete idiot's guide... most of the stuff in this book (about half way through it now) is pretty self explanatory.
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Texan in Mexico 08:54 PM 09-14-2009
Im not a guru by any means however I really enjoy it, some good resources to start with:

Anything by W Buffett
Barrons.com
Nasdaq.com
Ibtimes.com

Stay with what you know and only invest what you can bear to lose...
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Smokin Gator 08:58 PM 09-14-2009
You can't get hurt with dirt... Buy real estate.
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Texan in Mexico 09:11 PM 09-14-2009
Dirt on an Island is even better!

It really depends on what your goals are - are you looking to buy and hold or looking to generate cashflow?
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Pilon 09:18 PM 09-14-2009
Start a Roth IRA!!!
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Pilon 09:19 PM 09-14-2009
Take a peek at my occupation also by the way
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BUCASmoker 06:02 AM 09-15-2009
Originally Posted by Texan in Mexico:
Dirt on an Island is even better!

It really depends on what your goals are - are you looking to buy and hold or looking to generate cashflow?
Cashflow. I am already saving in a thrift plan through my company, and they are matching everything. I figure most of that will be able to go to retirement, and I should have more than enough by then. Right now, I would prefer having some liquid funds that I can put towards a new car in a few years, or a house in a few more years.
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elderboy02 06:02 AM 09-15-2009
Originally Posted by Pilon:
Start a Roth IRA!!!
Definitely.
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BUCASmoker 06:04 AM 09-15-2009
Originally Posted by Pilon:
Start a Roth IRA!!!
I would, but I work for the federal government, and they have a very good thrift plan. I put away 3% of my paycheck that gets matched 100%.

I am expecting a 12% raise in the next few months that I would like to put completely towards investing.

Would you still recommend a Roth IRA?
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Steve 08:00 AM 09-15-2009
Originally Posted by Smokin Gator:
You can't get hurt with dirt... Buy real estate.
Originally Posted by Texan in Mexico:
Dirt on an Island is even better!?
Image

:-)
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BUCASmoker 06:35 PM 09-15-2009
anyone else?
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Smokin Gator 07:26 PM 09-15-2009
OK... I am feeling generous tonight and will share a family secret... and I am serious. We buy properties that we can rent. Our rule of thumb is to be able to charge a monthly rent of 1% of the purchase price. If you do that the property should pay for itself in 7-10 years depending on taxes, insurance, and upkeep. You may not have any cash flow for a while, but before long you have a bunch of properties with cashflow that was paid for by someone else!!!
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AAlmeter 07:40 PM 09-15-2009
Originally Posted by Smokin Gator:
OK... I am feeling generous tonight and will share a family secret... and I am serious. We buy properties that we can rent. Our rule of thumb is to be able to charge a monthly rent of 1% of the purchase price. If you do that the property should pay for itself in 7-10 years depending on taxes, insurance, and upkeep. You may not have any cash flow for a while, but before long you have a bunch of properties with cashflow that was paid for by someone else!!!
What this gentleman said.

Government spending is scary. Invest in stocks and funds because its beneficial tax-wise.

Unless you've got a lot more in your piggy bank than most college students, precious metals are out because of the historically high spot prices and trading costs.

Real estate in many areas is in the dumper, and mortgage rates aren't too bad. Pinch your pennies, ditch your debt, and get into rental properties. Learn to do the upgrades and repairs yourself and save some money. Also, spend A LOT of time researching your area. In many cities, there are certain areas which provide affordable buy ins (good for you), fairly new homes (lowER maintenance), and appeals to the proper renters.

I'm not too many years your senior, and my brother and I have done well in a nicer area around a large public university which caters to junior professors with short term contracts. You have a responsible tenant with good cash flow who spends 90% of his/her time working. The rent covers the expenses (thus building equity for us) and provides a very modest income to buy us a few beers a month to celebrate.
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Pilon 09:35 PM 09-15-2009
You can still put into a roth ira in addition to a thrift up to a maximum 4000 or 4500 i have to double check. that way you never have to pay taxes again. and so you know you can use funds from a roth or traditional ira towards the purchase of a first home, up to $10,000 without being subject to early withdrawal penatlies. on the roth you ower nothing to the tax man, the traditional ira you would only have to pay taxes, no penalty.

contribute the max at work to get tthe full match, free money is good money, but doing a roth too just gives you the chance to manipulate taxes in the future, or control it rather.
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Pilon 09:38 PM 09-15-2009
you can also open up a Schwab or Fidelity account to save some non retirement money. you can invest in no load funds. t rowe price, vanguard, janus to name some fund families with no sales charges. if you do stocks your going to pay for trades getting in and out, its better to diversify your money with mutual funds and let the managers choose what to buy and sell on a daily basis. im sure you have better things to do with your time than research stocks day in and day out.
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JJG 12:03 PM 09-16-2009
Originally Posted by Pilon:
you can also open up a Schwab or Fidelity account to save some non retirement money. you can invest in no load funds. t rowe price, vanguard, janus to name some fund families with no sales charges. if you do stocks your going to pay for trades getting in and out, its better to diversify your money with mutual funds and let the managers choose what to buy and sell on a daily basis. im sure you have better things to do with your time than research stocks day in and day out.
:-) For someone just starting to invest, this guy has the right idea. Trading can be fun and the amount of $$ that can be made in such a short time is addicting, but it can also get expensive and it's not really worth the return for what you're required to pay in fees and taxes.
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kenstogie 03:00 PM 09-16-2009
I'm a Fed Emp too, Bump up your contributions to at least 6% they match higher than 3 points I am pretty sure. Take a look at your tax bracket and adjust contiributions as necessary to be in a lower one. Also this isn't so much investing as wise money management. Take advantage of your Med Flex Spending, it will reduce your taxable income and your not technically earning that but the end result is the same.... More $$$ in your pocket.

I am not an investing guru but people sometimes ask "How do you save money so well?"
I always tell them "write down everything you spend money on for a month". Funny but people rarely ever do but if they did they would find out in reality where there money actually goes.

The more organized you are with your money the better you'll be able to utilize it.

Also read "Rich Dad, Poor Dad" what a great book.
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