nebula Posted January 24, 2008 Group: Royal Member Followers: 10 Topic Count: 5,823 Topics Per Day: 0.75 Content Count: 45,870 Content Per Day: 5.92 Reputation: 1,897 Days Won: 83 Joined: 03/22/2003 Status: Offline Birthday: 11/19/1970 Share Posted January 24, 2008 I don't have a clue about the investment process - how to, what to . . . anything. Plus, I'm not making any extra money to invest anywhere. How can one learn how to invest who has never been taught and is low on funds? Do you have the option of contributing to a 401k through your employer? If not you could open up an IRA. If you go the IRA route, you will want to open up both a Traditional and a Roth IRA (as you don't know what future tax policy will be). Either way, don't do anything on your own, upon opening up an account, whether its a 401k or an IRA see an investment counselor to determine what your allocations should be, and contributions. I'm part-time staff / adjunct faculty. No 401k for me. So, where can I get an investment counselor, and how much do they cost? Link to comment Share on other sites More sharing options...
Marnie Posted January 24, 2008 Group: Royal Member Followers: 1 Topic Count: 811 Topics Per Day: 0.12 Content Count: 7,338 Content Per Day: 1.08 Reputation: 76 Days Won: 2 Joined: 10/06/2005 Status: Offline Author Share Posted January 24, 2008 I don't have a clue about the investment process - how to, what to . . . anything. Plus, I'm not making any extra money to invest anywhere. How can one learn how to invest who has never been taught and is low on funds? Do you have the option of contributing to a 401k through your employer? If not you could open up an IRA. If you go the IRA route, you will want to open up both a Traditional and a Roth IRA (as you don't know what future tax policy will be). Either way, don't do anything on your own, upon opening up an account, whether its a 401k or an IRA see an investment counselor to determine what your allocations should be, and contributions. I'm part-time staff / adjunct faculty. No 401k for me. So, where can I get an investment counselor, and how much do they cost? You find a good investment firm, find a broker you can trust, and READ the prospectus which explain the fees. Fees will either be charged up front with each deposit, which I dont recommend, or you may elect a "rear-end" fee which which is charged when you withdraw. This kind of fee decreases over time until it disappears all together. If you dont take the money out until you retire, you likely wont ever pay the fee. All firms charge a management fee, which is taken off the overall return of your investment. For example, I'm invested heavily in global mutual funds. I make deposits every month on a regular basis and never pay a brokerage fee. The management fee was taken off before I saw my final rate of return, which was over 17% last year. Link to comment Share on other sites More sharing options...
Marnie Posted January 24, 2008 Group: Royal Member Followers: 1 Topic Count: 811 Topics Per Day: 0.12 Content Count: 7,338 Content Per Day: 1.08 Reputation: 76 Days Won: 2 Joined: 10/06/2005 Status: Offline Author Share Posted January 24, 2008 Marnie - I don't have a clue about the investment process - how to, what to . . . anything. Plus, I'm not making any extra money to invest anywhere. How can one learn how to invest who has never been taught and is low on funds? Neb, if you have the time, I recommend this book: The Wealthy Barber Link to comment Share on other sites More sharing options...
Guest Posted January 25, 2008 Share Posted January 25, 2008 It all boils down to the old adage: "It takes money to make money." Unless you're the U.S. government, in which case you can just print more fake money and sell out all your citizens to banks, foriegn governments, and wealthy business owners. Yes, the government can get away with that! If us normal people do it, they call it "counterfeiting" and then throw you in jail. BTW: Jail is NOT a recommended retirement plan! Link to comment Share on other sites More sharing options...
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