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Message
What should i do next to diversify my investments?
Posted on 7/26/12 at 10:44 am
Posted on 7/26/12 at 10:44 am
Been reading this board for a while and have followed some of the advice. I'm investing more now and am looking to do something else with my money besides the stock market.
Background:
29 yrs old, not married, no kids.
Max out my 401k every year
Max out my roth IRA every year
Company i'm with has pretty solid pension plan
Emergency savings account is high enough.
Invest $1000/month in an RBC wealth mgmt account to supplement retirement, lower risk high dividend stuff.
Invest $1000/month in an edward jones account, all international stuff, higher risk.
Invest $1000/month in my scottrade account where i buy mostly O&G and bank stocks.
Due to the travel i do with work i am not really looking to buy a house, but wouldn't mind purchasing a rental. Do i need to get a CFA to handle this shite and continue investing in the market? Should i buy gold bars? Invest in a racehorse? Fine art? I'm willing to take some significant risk as i feel my retirement is pretty well covered. Any thoughts would be helpful, after all everything i learned about saving/investing came from this board.
Background:
29 yrs old, not married, no kids.
Max out my 401k every year
Max out my roth IRA every year
Company i'm with has pretty solid pension plan
Emergency savings account is high enough.
Invest $1000/month in an RBC wealth mgmt account to supplement retirement, lower risk high dividend stuff.
Invest $1000/month in an edward jones account, all international stuff, higher risk.
Invest $1000/month in my scottrade account where i buy mostly O&G and bank stocks.
Due to the travel i do with work i am not really looking to buy a house, but wouldn't mind purchasing a rental. Do i need to get a CFA to handle this shite and continue investing in the market? Should i buy gold bars? Invest in a racehorse? Fine art? I'm willing to take some significant risk as i feel my retirement is pretty well covered. Any thoughts would be helpful, after all everything i learned about saving/investing came from this board.
3
Posted on 7/26/12 at 11:34 am to JL
Iraqui Dinars
Posted on 7/26/12 at 12:14 pm to JL
Sounds like your in a pretty solid position for 29 contributing as much as you do monthly to the market.
If you travel, I would advise against purchasing a rental home due to the up keep. However, now is a great time to get a mortgage and buy a house.
This concerns me. International markets are extremely tricky and I'm not sure your average run of the mil Edward jones manager is well qualified, but if you trust him, international exposure is something I'm a huge advocate of. It'd just hard to do with ETF's as they are the target of shorts and the big boys when anything macro goes wrong. And the upside is diversified away. By going directly to emerging markets, you get tremendous upside
I would advocate adding storm MLP's, proffered stocks, and REITs to your portfolio. However, be aware each of these asset classes will get dinged when interest rates rise.
Im also a huge fan of getting some of your money in foreign currencies. NOK, SGD, HKD, CAD, AUD. A strictly US dollar bank account right now is a ticking time bomb IMO
If you travel, I would advise against purchasing a rental home due to the up keep. However, now is a great time to get a mortgage and buy a house.
quote:
Invest $1000/month in an edward jones account, all international stuff, higher risk.
This concerns me. International markets are extremely tricky and I'm not sure your average run of the mil Edward jones manager is well qualified, but if you trust him, international exposure is something I'm a huge advocate of. It'd just hard to do with ETF's as they are the target of shorts and the big boys when anything macro goes wrong. And the upside is diversified away. By going directly to emerging markets, you get tremendous upside
I would advocate adding storm MLP's, proffered stocks, and REITs to your portfolio. However, be aware each of these asset classes will get dinged when interest rates rise.
Im also a huge fan of getting some of your money in foreign currencies. NOK, SGD, HKD, CAD, AUD. A strictly US dollar bank account right now is a ticking time bomb IMO
Posted on 7/26/12 at 12:15 pm to JL
1) fire the EJ guy.
2) is this a bragging thread, or are you being serious? You never mentioned what the %ages were in your investments. Are you asking about non-typical investments?
Maybe consider buying some multifamily housing?
2) is this a bragging thread, or are you being serious? You never mentioned what the %ages were in your investments. Are you asking about non-typical investments?
Maybe consider buying some multifamily housing?
Posted on 7/26/12 at 12:25 pm to TheHiddenFlask
Edward Jones guy is a person who i would trust, he's not running wild with my money or putting it in funds he isn't in himself.
If this were a bragging thread i would have put it in the OT. Not sure what you mean by % in investments but i have very few living expenses and probably invest close to 40% of my take home pay. I have a lot of money in savings and am looking to invest it in something non-typical, foreign currency as stated above isn't a bad idea. I really don't want anything high maintenance, hell a few months ago i was looking at buying a 1960's les paul but didn't want to make a spontaneous decision, those don't always turn out well for me.
If this were a bragging thread i would have put it in the OT. Not sure what you mean by % in investments but i have very few living expenses and probably invest close to 40% of my take home pay. I have a lot of money in savings and am looking to invest it in something non-typical, foreign currency as stated above isn't a bad idea. I really don't want anything high maintenance, hell a few months ago i was looking at buying a 1960's les paul but didn't want to make a spontaneous decision, those don't always turn out well for me.
Posted on 7/26/12 at 12:30 pm to JL
Buy several pieces from a fledgling artist and then call a guy...
Posted on 7/26/12 at 12:34 pm to TheHiddenFlask
quote:
1) fire the EJ guy.
Number one.
Posted on 7/26/12 at 12:38 pm to JL
quote:It appears you're investing close to $60k/year including your retirement plans.
probably invest close to 40% of my take home pay
All I want to know is, where did I go wrong? $150k take home pay at age 29? I'm taking the scenic route there, and hopefully by age 75 and a half I get there. Not looking good.
Posted on 7/26/12 at 1:22 pm to LSUAfro
Sounds like he is killing it at 29. I'm 29 as well and a little over half way there. I'm depressed now.
Posted on 7/26/12 at 1:53 pm to I Love Bama
Ha, i work in africa for an oil company, pay is good, but long hours in not the best conditions.
Posted on 7/26/12 at 2:20 pm to JL
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