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re: starting investments
Posted on 11/12/12 at 4:15 pm to kingbob
Posted on 11/12/12 at 4:15 pm to kingbob
How much background do you have regarding investing? I am not an investor (besides retirement) although I am working on developing some sound knowledge to become one. I suggest if you want to avoid risk, similar to me, then do whatever is necessary to educate yourself on investing opportunities.
I have completed some simple tasks that the board has suggested, such as invest to the company match in a 401K and develop an emergency fund. I have yet to start a Roth IRA , that is next on my checklist.
I am tempted to dump the majority of the money I plan on using for investing opportunities into CDs. This will at least improve my interest rates on my money over what savings provides, while I tinker around (procrastinate) with what gives me the most confidence to start out in.
I have completed some simple tasks that the board has suggested, such as invest to the company match in a 401K and develop an emergency fund. I have yet to start a Roth IRA , that is next on my checklist.
I am tempted to dump the majority of the money I plan on using for investing opportunities into CDs. This will at least improve my interest rates on my money over what savings provides, while I tinker around (procrastinate) with what gives me the most confidence to start out in.
Posted on 11/12/12 at 5:55 pm to RickAstley
Rick, You sound like a man with a plan. Are you willing to spend 20+ hours a week on your investments? You probably already spend 10 hours a week on them. There are ways to reduce your taxes and fund your ROTH. There are no short cuts. There are ways to grow and compound your net worth. It takes alot of work if you want to retire early.....joe
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