Hi... and daydreaming at work

ER_Hopeful · 01-14-2008, 02:40 PM

Hi,

Just want to step out of lurking and write my first post. I've been visiting this site almost everyday for the past few months ever since I found it from googling. I've learned a lot and am glad to know that I'm not the only one who values LBYM and FIRE.

Here're some info about me:

me and wife: mid 30's, kids: 7 and 4
live in SoCal, 130k left on mortgage, no other debt.

Maxing out 401k at my work, wife is a stay-home-mom(for another two years at least.) 401k currently is about $35k.

Started my IRA 3 years ago, hers 1 yr ago. Both with Fidelity freedom fund. Before that we were saving money for the downpayment. Luckily, we bit the bullet and bought before the market went crazy.
Whatever is left each month(anywhere from $600 to $1k), I save it up and put it in my taxable acct(right now it's with vanguard target 2035) every few months. Current value is only around $19, no, 18, no, 17k. See how the market drops recently, I feel hairy about putting more $ in. Should I wait until the worst is over(like I know when that'll be,

) or should I just close my eyes and keep DCAing?

would like to ER by early 50's.

thanks in advance. I'm sure I'll have more questions to come.

Sandy · 01-14-2008, 02:57 PM

ER Hopeful,

Welcome. Assuming you have 10-20 year time horizon - stick to the plan. We look forward to your participation.

ER_Hopeful · 01-14-2008, 07:07 PM

Quote:

Originally Posted by Sandy

ER Hopeful,

Welcome. Assuming you have 10-20 year time horizon - stick to the plan. We look forward to your participation.

Thanks for the welcome. My plan(or my hope) is to get out by 55 (or sooner), so that's gives me about 15 to 20 years of investment time frame. So should I just do what the "coffee house investor" suggests, ignore wall street and just keep DCAing?

thanks,

travelover · 01-14-2008, 07:23 PM

Quote:

Originally Posted by ER_Hopeful

.............. So should I just do what the "coffee house investor" suggests, ignore wall street and just keep DCAing?.........

Yes, and welcome. You are on the right path. A lot can happen in 20 years, but having an ample portfolio can make it a lot less scary.

militaryman · 01-15-2008, 06:34 AM

Yeah put more in, now is the time that dollar cost averaging saves your butt. You will most likely not "time" the bottom of the market and therefore I keep chunking it in as I did at the Tech bubble and saw many losses turn around to nice gains within a couple years.

Rambler · 01-15-2008, 07:02 AM

Yeah keep DCAing. Took the opportunity today myself, kept some cash on the side for more prime opportunities.
R

01-14-2008, 02:40 PM	#1
ER_Hopeful Dryer sheet aficionado Join Date: Sep 2007 Posts: 37	Hi... and daydreaming at work Hi, Just want to step out of lurking and write my first post. I've been visiting this site almost everyday for the past few months ever since I found it from googling. I've learned a lot and am glad to know that I'm not the only one who values LBYM and FIRE. Here're some info about me: me and wife: mid 30's, kids: 7 and 4 live in SoCal, 130k left on mortgage, no other debt. Maxing out 401k at my work, wife is a stay-home-mom(for another two years at least.) 401k currently is about $35k. Started my IRA 3 years ago, hers 1 yr ago. Both with Fidelity freedom fund. Before that we were saving money for the downpayment. Luckily, we bit the bullet and bought before the market went crazy. Whatever is left each month(anywhere from $600 to $1k), I save it up and put it in my taxable acct(right now it's with vanguard target 2035) every few months. Current value is only around $19, no, 18, no, 17k. See how the market drops recently, I feel hairy about putting more $ in. Should I wait until the worst is over(like I know when that'll be, ) or should I just close my eyes and keep DCAing? would like to ER by early 50's. thanks in advance. I'm sure I'll have more questions to come.

01-14-2008, 02:57 PM	#2
Sandy Full time employment: Posting here. Join Date: Dec 2006 Location: Florida Posts: 856	ER Hopeful, Welcome. Assuming you have 10-20 year time horizon - stick to the plan. We look forward to your participation. __________________ I would not have anyone adopt my mode of living...but I would have each one be very careful to find out and pursue his own way, and not his father's or his mother's or his neighbor's instead. Thoreau, Walden

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01-15-2008, 06:34 AM	#5
militaryman Recycles dryer sheets Join Date: Jun 2007 Posts: 88	Yeah put more in, now is the time that dollar cost averaging saves your butt. You will most likely not "time" the bottom of the market and therefore I keep chunking it in as I did at the Tech bubble and saw many losses turn around to nice gains within a couple years.

01-15-2008, 07:02 AM	#6
Rambler Full time employment: Posting here. Join Date: Jul 2007 Posts: 714	Yeah keep DCAing. Took the opportunity today myself, kept some cash on the side for more prime opportunities. R

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