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02/26/2012 05:59:16 PM · #1 |
Canadians... RRSPs
Yankees... 401Ks ?
ETFs? ... which ones ?
Mutual Funds ?
Stocks ?
What are you forecasting for the coming 3 years ? Oil Up? Metals? Utilities?
Gambling on single stocks? ... Apple? ... Ford? ... Rogers in Canada (tough to pull for a company I hate,heh)???
Investing in an African Princess?
Message edited by author 2012-02-26 18:01:16.
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02/26/2012 06:10:53 PM · #2 |
Even though I don't have any specific advice at the moment, this is a timely topic for me. I've been reviewing my retirement planning lately also. Not feeling too warm & fuzzy at the moment. Most of my funds are in a company sponsored 401k with T. Rowe Price (not in company stock however). I've been considering opening a Roth IRA also. Too many choices . . .
I'd be really interested in other members thoughts also.
Message edited by author 2012-02-26 18:12:14. |
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02/26/2012 06:44:23 PM · #3 |
| Maximize your 401K, and IRA's. Diversify your portfolio in an age appropriate mix of equities and bonds. There is excellent educational material on Morningstar.com. If you are not knowledgeable or don't have the desire to be on top of your investments you should hire a fee only independent financial consultant. |
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02/26/2012 06:52:08 PM · #4 |
not really thinking about retirement yet, all though i do contribute to a 401k.
im more interested in how to pay for the kids college. im thinking about buying a vacation home. prices are low. i can rent it out to pay the mortgage . something I'll sell for profit in 15 yrs when i need to pay for their school.
there just aren't any really safe places to put the money I've been saving for them, i figure that will have the most yield.
Message edited by author 2012-02-26 18:52:37. |
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02/26/2012 06:56:37 PM · #5 |
Real Estate is another question of mine (REIT) for Canada. Still going UP despite the USA. Bubble? I dunno. I'm looking at a nice REIT ETF for my RSP.
My personal situation... no savings, lots of debt, a hankering to gamble big time. Basically, I need to win a lottery in order to avoid old age in a cardboard box in the alley.
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02/26/2012 07:14:58 PM · #6 |
I'm likely headed for the lines of soup kitchens, but with rare artifacts and original 20th century artworks by those whom I feel reasonably promising for (post life) renowned status. I never will forget a couple that had spent their entire life together collecting fine artworks of their period with modest salary earnings that were saved to make annual purchases. When they died no one would have believed their modest dwelling was a hidden art gallery which fetched over 40 million at auction. I know, it doesn't mean it can happen every time. LOL.
Message edited by author 2012-02-27 19:55:20. |
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02/26/2012 07:55:36 PM · #7 |
| The best is to have a small business on the side and carry it into your retirement. Ongoing income is always better than any uncertain investment. Everything is doomed now, my savings are in the Australian Super funds (pensions), in Conservative option. I don't believe in Real Estate, as you have to do your math correctly and include all cost of borrowing and maintenance. The other problem is that you have to sell it in order to release the capital. |
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02/26/2012 08:03:32 PM · #8 |
| I had the beginnings of a nice retirement nest egg before it took the triple shot (divorce/market drop/layoffs) to kill it. I figure I'll work until I physically can't, then get someone to put me out of my misery. |
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02/26/2012 08:11:08 PM · #9 |
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02/26/2012 08:21:40 PM · #10 |
Originally posted by Strikeslip:
Investing in an African Princess? |
You can invest in African Princesses? Share a link so I can wire my $$ & financial info - no issue as I trust people in Africa, so I will send cash? Sounds great - I want in! :-)
If your serious head over here (they have a Canadian affiliate of a type on the links to the left) and listen to the suggestions there. Hear what they say and decide.... but they will NOT tell ya what's going to be hot in the next while or ever in fact, they will tell you the opposite in fact :-). They will essentially say - spend less then you earn, pay off debt for the most part and invest using a long term plan - It ain't flashy :-).
Personally; I worked out a plan and I stick to it no matter how bad it smells and I certainly do not change the plan on what I think will be the next hot thing. If I WAS going to do that.... I would go long on emerging markets and short on US large cap stock.... but I bet I would be wrong :-) |
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02/26/2012 08:37:20 PM · #11 |
Originally posted by robs:
...Personally; I worked out a plan and I stick to it no matter how bad it smells and I certainly do not change the plan on what I think will be the next hot thing. If I WAS going to do that.... I would go long on emerging markets and short on US large cap stock.... but I bet I would be wrong :-) |
Dang... I'm looking at ETFs on Brazil and India to make up ~40%. :-/ |
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02/26/2012 08:46:01 PM · #12 |
Originally posted by Strikeslip:
Real Estate is another question of mine (REIT) for Canada. Still going UP despite the USA. Bubble? I dunno. I'm looking at a nice REIT ETF for my RSP.
My personal situation... no savings, lots of debt, a hankering to gamble big time. Basically, I need to win a lottery in order to avoid old age in a cardboard box in the alley. |
You mention no savings?
Do you have equity in your home? If so it is sitting there doing nothing! Interest rates are soo low on mortgages, that you should take out the equity and invest in something that will likely garner more than your mortgage rate. I'm sure I'm not telling you something new.
RRSP's are ok....but govt takes a big chunk when you cash in!! company pension plan? Where they contribute? When they match your contributions ..you are getting 100% return! Pretty hard to beat that.
REIT is just as good as owning your own real estate without the hassle.
Couple of good reads...
The Smith Manouver...Canadian and straight forward concept to get your mortgage payments a tax right off and increase cash flow
Becoming your own Banker...by R.Nelson Nash...American....a little more difficult for people to get their head around but a great concept to keep money in your hands and free of the tax man!
Disclaimer....
If you lose your shirt don't blame me :)
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02/26/2012 09:00:56 PM · #13 |
Originally posted by lnede:
Maximize your 401K, and IRA's. Diversify your portfolio in an age appropriate mix of equities and bonds. There is excellent educational material on Morningstar.com. If you are not knowledgeable or don't have the desire to be on top of your investments you should hire a fee only independent financial consultant. |
This is exactly what I have been thinking, except maybe for the age appropriate mix. Probably will go with a mix for someone younger than me for a more aggressive position (at least for a few years). Searching now for a good advisor. |
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02/26/2012 09:51:04 PM · #14 |
| I know quite a few people who were advised by a financial adviser to get a loan against their houses and invest in shares. You can guess what the outcome was - they are all now in big debts! Share market has become too much of a gambling institution where only very few win. |
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02/26/2012 10:21:25 PM · #15 |
I buy Lotto tickets, every Wednesday and Saturday. So far, nada. But that only means I'm due, right? Maybe now is the time to double down.
In the meantime, 401K and stock in my employer.
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02/27/2012 07:07:04 AM · #16 |
Originally posted by dswann:
Originally posted by lnede:
Maximize your 401K, and IRA's. Diversify your portfolio in an age appropriate mix of equities and bonds. There is excellent educational material on Morningstar.com. If you are not knowledgeable or don't have the desire to be on top of your investments you should hire a fee only independent financial consultant. |
This is exactly what I have been thinking, except maybe for the age appropriate mix. Probably will go with a mix for someone younger than me for a more aggressive position (at least for a few years). Searching now for a good advisor. |
I feel diversification tables like the one in morningstar are a good starting point. There are many factors which would cause a specific individual to deviate from the recommended asset allocations. 1) years to retirement 2)present economic conditions 3)present savings portfolio 4) The individuals present economic situation ie. single vs. married, children, home owner versus renter, present level of debt, employee or self employed, etc. 4) present living expenses. 5)life expectancy. 6) Tolerance for risk. There are many other factors as well that would need to be evaluated to determine what your present allocation should be. The sooner one begins the journey the better. Quick rich schemes rarely work. A slow and steady disciplined savings approach is the only way to long term financial security for 99% of all investors. |
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