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re: Various Financial Questions
Posted on 1/4/13 at 12:08 pm to BennyAndTheInkJets
Posted on 1/4/13 at 12:08 pm to BennyAndTheInkJets
quote:
if you have any questions feel free to ask away
I know you kind of broke down the way I should consider diversifying my retirement fund, but what are your feelings on purchasing other things on the side.
Like say I am going to put 1k a month away towards retirement/savings/Investments/etc..., how or would you mix it up? For example
$416 (Max) to Roth (Diversify as you suggested)
$300 to purchase metals (Have become interested recently)
$100 to play in stocks
$200 to savings
I don't know, I may be thinking about things completely wrong and maybe that is confusing
2
Posted on 1/4/13 at 12:21 pm to Lsut81
quote:
$100 to play in stocks
The only thing I will say about this is to keep in my mind the commissions/fees. Sharbuilder, as an example, charges $9.95 per transaction. So, your $100 becomes $90 after you buy the stock. Just as an example, if you were looking at buying XOM, you could only purchase 1 share. In order to get your money back on that share, you need the price to rise $20, and thats just to break even.
I like the monthly allocations, just not sure about the stock side. Seems almost better to take the $1,200 set aside each year for stocks and make one purchase.
This post was edited on 1/4/13 at 12:21 pm
Posted on 1/4/13 at 12:23 pm to Lsut81
quote:
$416 (Max) to Roth (Diversify as you suggested)
$300 to purchase metals (Have become interested recently)
$100 to play in stocks
$200 to savings
Disclaimer: I can advise on investing, I can't advise on spending. That's just to what you enjoy.
The Roth allocation, stock play, and savings are all golden. The $300 for metals can be looked at essentially the same as $300 for baseball cards, stamps, or any other sort of collectible you either place some sort of sentimental value on or have an expectation that it will increase in value. If metals is your thing, then by all means do it. Just make sure you get physical and not an ETF or receipt. If you were to ask me what I would personally do, I'd increase savings and use the other $300 for bar tabs and girls with low self-esteem.
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