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Old 01-31-2008, 03:40 PM   #1
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Hello community!

I was referred here from RADDR's board - I think it was either Gnobility or Nords. Both forums are quite informative and add some balance and reason to the morning news.

I'm in my mid 50's, stopped earning a salary 1/1/2000, and then Ė confident of my prospects and investing abilities - proceeded to mess things up nicely. Not enough to break the bank or go under, but enough to learn that I am not the investing champ I thought I was. So I rolled up my sleeves, cracked open the books, learned some basics, made a whole bunch of portfolio changes, enjoyed good fortune and luck and am still on track Ė to not have to return to paid work again. It's tough. My biggest challenge is still to not do something really stupid.

You know, one great difference between bungee jumping and investing in markets like this is with each you hope for a positive outcome, but only with bungee will you know immediately, and then youíre safe.

We live in interesting times.

Regards, Michael
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Old 01-31-2008, 03:49 PM   #2
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Welcome To the board !
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Old 01-31-2008, 03:53 PM   #3
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Hi Michael,
I'm relatively new here and may be going into Early Retirement pretty soon. I have serious doubts about my own investment abilities - any words of wisdom you care to share with us? I'm currently reading as much as I can about investing and personal finance, but it's always nice to hear some real life stories - things to do, things to avoid doing, etc...
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Old 01-31-2008, 03:59 PM   #4
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Hello community!

My biggest challenge is still to not do something really stupid.
I'm sure many others would agree.

Welcome
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Old 02-01-2008, 08:26 AM   #5
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Hi all. Thanks for the welcoming words.

JoeDreaming, I donít think Iím qualified to hand out much advice. Still, Iím trying to keep a few things in mind now.

1 Understanding and managing risk is the most important thing I can do.
2. Financial catastrophe comes from big losses, not low returns
3. A fall-back plan helps.
4. My own active management generates more cost than benefit.
5. I am a lousy market timer.
6. Free advice (especially mine) is worth what you pay for it.

This board and RADRs are excellent resources for those that are or plan to become financially independent before senility takes over.

Cheers, Michael
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Old 02-01-2008, 08:32 AM   #6
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Welcome, Michael. I really like your attitude toward the school of hard knocks - suck it up, learn from it, and move on with the benefit of your experience.

Despite being a pretty rambunctious crowd, this forum generally skews toward the conservative, long-term, don't-time-the-market approach. I am sure that had I not stumbled on , I would not be nearly as focused and at ease with my retirement plans.
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As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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Old 02-01-2008, 08:49 AM   #7
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Hello community!

My biggest challenge is still to not do something really stupid.



Regards, Michael
Yup, and welcome to the board. Lot's of good info here.

I try to keep a balanced portfolio made up of mutual funds and some individual stocks. I try not to have more than 10% of individual stocks for the reason you stated above. What is you investment style?
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Old 02-01-2008, 04:34 PM   #8
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Hi Dawg52. Is that your real picture?

Quote:
Originally Posted by Dawg52 View Post
I try to keep a balanced portfolio made up of mutual funds and some individual stocks. I try not to have more than 10% of individual stocks for the reason you stated above. What is you investment style?
Mine is not much of a style. When I began I invested in stock only - but found that I don't have the right disposition or attitude. Now it's mostly funds (vanguard, dodge, t rowe price, third ave) and some ETFs. Mixed equity, munis, commodity and real estate. The only stock I own is Berkshire. I'm tempted to start buying stocks again but that is motivated by greed - and I know it's only a thought.

Michael
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Old 02-01-2008, 05:41 PM   #9
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Originally Posted by Rich_in_Tampa View Post
Welcome, Michael. I really like your attitude toward the school of hard knocks - suck it up, learn from it, and move on with the benefit of your experience.

Despite being a pretty rambunctious crowd, this forum generally skews toward the conservative, long-term, don't-time-the-market approach. I am sure that had I not stumbled on , I would not be nearly as focused and at ease with my retirement plans.
Hi Rich. Looks like we share more common thought - about getting to the forum and learning to focus.

Regarding "rambunctious", you're being kind. From the posts I've read, words aren't minced around here and folks don't delay in letting you know when you've got your head up your butt. Still, there aren't so many places in the world where people share their knowledge so freely or with such positive intention. I think it is a bargain.

Regards, Michael
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