I agree, being discipline is probably the best advice over any other money saving plan. Are you close to achieving your goal? If so, when does it end and what are some of your future goals?
Craig, my goal (from the link in the article) was to have $2 million in net assets in 2017. I have been brutally pushed back from my timeline in the last couple of months. I set $2M because the expected level of income off of that level of assets was enough to cover most of my (very high northeastern US) cost of living, meaning I could quit work and generate "extra" income solely through writing.
I'm not giving up on that goal, but the last few months have made achieving that much, much, much harder.
fern
· 1 year ago
yeah, we need nerves of steel. I've never had a problem being in dicey stock markets, yet must admit feeling unnerved by an increasing number of "pundits" who say the investment advice we've all bee spoon-fed for years could be wrong, terribly wrong. I actually read one example showing how you'd have been better off putting $12,000 under a mattress for the last 5 or 10 y ears than if you've invested in what they're calling "the lost decade," due to sucky returns.
i'm surprised to you say you're not thrilled with your candidate choice. I see this election as very polarizing. It's hard for me to imagine feeling uninspired by the choices. for me, the choice is obvious.
Steve
· 1 year ago
Fern, that's what kills me - of course, hindsight is 20/20, but I would've been much better off keeping my money in my "low return" savings account than investing it in S&P 500 index funds like the financial genius Warren Buffet proposes...
I'll be honest here in the comments about the candidates: I was a McCain supporter in 2000 and really loved the guy for years. I have been sickened by his campaign and I am - beyond a shadow of a doubt - voting for Obama. I am voting for Obama based on only two things, though - I think he'll help American "PR" in the world, and I think he's less likely to start another war. I'm not convinced his economic policies are anywhere NEAR as transformational as we need, and I think we need a politician to step up and tell us harsh truths now: taxes must go up, spending must go down, companies must fail and massive military withdrawals around the world are no longer optional - we cannot afford troops in Germany, Korea, etc. I'm not sure Obama - with his promise to "govern from the middle" - is the guy to deliver on the harsh changes we need. But I'll pull the lever for him and hope for the best....knowing that the alternative is a nightmare of avoidance, war, and religious intolerance.
Shadox
· 1 year ago
Yes... the question is exactly HOW to move forward. Discipline is certainly key and with current stock market valuations I think that over time the stock market will generate good returns. The market is pretty much pricing apocalypse, and personally I don't see the four horsemen on the horizon.
My personal strategy has been to invest a fixed amount in the market on the 15th of each month, come hell or high waters. I have followed this approach since the trouble started in July 2007. So far, that strategy hasn't worked so well... but I am hopeful that in the long run, this is a solid approach that will take us where we need to go.
plonkee
· 1 year ago
The thing about a savings account having been better in the last 5-10 years than the stockmarket is only important if you're cashing out now. Otherwise the question is do you think it will be worth more or less in the future than it was when you bought it? Or what it's worth now? If less, cut your losses, if more, ride it out.
website templates
· 1 year ago
Type your comment here.My personal strategy has been to invest a fixed amount in the market on the 15th of each month
Nabloid.com
· 1 year ago
I agree, we need to live within our means! That piece of advice shouldn't just apply to people, but also to the government and to the Presidential Candidates. Watch the documentary I.O.U.S.A., they just released a 30 minute version of the award winning documentary that talks about the US government finances and consequences that are coming in the future... It's really good. http://www.nabloid.com/iousa-30-minute-version/
BTW, Obama already won the second he showed his face, and he will spend spend spend, like all politicians do. Change has to be clearly defined, and it isn't. The election is just a popularity competition, nothing more. People act like he is here to save them... ridiculous. People should wake up and realize, even Obama has stinky poop.
AoC Guide
· 1 year ago
I admire the valuable information you offer in your articles. I will bookmark your blog and have my children check up here often. I am quite sure they will learn lots of new stuff here than anybody else! AoC Leveling GuideAoC Gold Guide
All Comments
Craig
www.budgetpulse.com
I'm not giving up on that goal, but the last few months have made achieving that much, much, much harder.
i'm surprised to you say you're not thrilled with your candidate choice. I see this election as very polarizing. It's hard for me to imagine feeling uninspired by the choices. for me, the choice is obvious.
I'll be honest here in the comments about the candidates: I was a McCain supporter in 2000 and really loved the guy for years. I have been sickened by his campaign and I am - beyond a shadow of a doubt - voting for Obama. I am voting for Obama based on only two things, though - I think he'll help American "PR" in the world, and I think he's less likely to start another war. I'm not convinced his economic policies are anywhere NEAR as transformational as we need, and I think we need a politician to step up and tell us harsh truths now: taxes must go up, spending must go down, companies must fail and massive military withdrawals around the world are no longer optional - we cannot afford troops in Germany, Korea, etc. I'm not sure Obama - with his promise to "govern from the middle" - is the guy to deliver on the harsh changes we need. But I'll pull the lever for him and hope for the best....knowing that the alternative is a nightmare of avoidance, war, and religious intolerance.
My personal strategy has been to invest a fixed amount in the market on the 15th of each month, come hell or high waters. I have followed this approach since the trouble started in July 2007. So far, that strategy hasn't worked so well... but I am hopeful that in the long run, this is a solid approach that will take us where we need to go.
BTW, Obama already won the second he showed his face, and he will spend spend spend, like all politicians do. Change has to be clearly defined, and it isn't. The election is just a popularity competition, nothing more. People act like he is here to save them... ridiculous. People should wake up and realize, even Obama has stinky poop.
AoC Leveling Guide AoC Gold Guide