getting serious about money

sorabji.com: I need advice: getting serious about money
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By sarah on Wednesday, May 29, 2002 - 03:13 pm:

    in addition to my long standing efforts (involving a tax ID #, a complex system of receipt filing, itemizations, deductions, and the occassional freelance project) to cheat the goverment out of every possible tax dollar they think i owe them, and because i am too old to begin a career in drug smuggling, i have begun the process of getting serious about money. in particular, i've been spending a lot of time getting my investments in order.

    this is quite an undertaking. i've got a smattering of several different kinds of accounts from several jobs. all i've done so far is rollover all releasable funds into one of the 401k accounts. i also have a teacher retirement savings, which i've been advised to max out in terms of my contributions.

    but there are other things that need to be done. i want some short term investments. i want to make some extra money now, and a lot of extra money for the future. so, i've elected to deal with Fidelity investments, based on advice from my step father, who has made a lot of money with their services.


    does anyone have any particularly good advice on where to start? what has worked for you and what hasn't? potential potholes i need to be wary of (besides annuities and other obvious things)?


    nate?



By droopy on Wednesday, May 29, 2002 - 03:45 pm:

    you're never to old to smuggle drugs.

By heather on Wednesday, May 29, 2002 - 03:53 pm:

    talk to someone at fidelity

    do the max of an ira

    just be regular in the way you set something aside- do it with every paycheck and it's easy.


    if you want to get a little more serious you can find and 'investment club' thingy. a group of people [perhaps exactly like you] that get together, study companies and ideas and decide together how to invest.

By Dougie on Wednesday, May 29, 2002 - 04:00 pm:

By Nate on Wednesday, May 29, 2002 - 04:49 pm:

    what does short term mean to you?

    don't invest short term.

    buy a house. probably the best investment you can make.

    the stock market isn't about the value of companies. it is about buying low and selling high. that sounds flippant, but it isn't.



By The Watcher on Wednesday, May 29, 2002 - 06:15 pm:

    I remember an old Avengers episode, I think it was "Dial M for Murder", and the villian advises Mrs. Peel to "But, when they are friendless".

By Dougie on Wednesday, May 29, 2002 - 06:41 pm:

    By the way, the MFNX symbol has changed to MFNXE since my first post.

    Buy some VFINX (a spider fund that mimics the S&P500) and some GE and MSFT for long term.

By Nate on Wednesday, May 29, 2002 - 07:14 pm:

    oh yeah, don't take stock advice from chumps on the internet.

By J on Thursday, May 30, 2002 - 02:02 am:

    I lost alot of money on internet stocks last year,I think that's why my broker was canned,but it's almost back to where it was,but i'm old and am going to invest in some safer things like my mom did,and I think if I get my mom's home for a rental,I'll do alright,or I'll move there and still do alright.

By sarah on Thursday, May 30, 2002 - 04:05 pm:


    well, i'm not taking any advice from anyone other than a professional. the reason i queried here is just to give me some ideas of what kinds of questions to ask, or learn about things "they" won't tell me that i might need to know about or watch out for.


    my tax guy rocks. i visited with him today. he gets it. H&R Block are a bunch of weenies.


By Nate on Thursday, May 30, 2002 - 04:20 pm:

    don't take advice from professionals.

By sarah on Thursday, May 30, 2002 - 05:33 pm:


    but i'm too lazy to figure it out on my own.


By sarah on Thursday, May 30, 2002 - 05:35 pm:


    ok, that's not entirely true. it's that reading or otherwise learning about it bores me to tears.


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