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What have I done?
Old 11-25-2008, 05:26 PM   #1
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What have I done?

Hola Todos!
I just opened my first account with T Rowe, I am DCA $100 into PRMSX, and $100 into PRNEX.

I am a single full time student (27), I have 35 years until FIRE, I beg borrow and steal to make $27K, (hence the full time student-part :-) and am probably doing this all wrong, but heck, gotta start somewhere.
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Old 11-25-2008, 05:33 PM   #2
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Fatman,
Welcome.

So you have a natural resources fund (PRMSX) and an emerging markets fund (PRNEX). Both pretty volatile, but as you say, you have to start somewhere.

There are probably other ways to start investing $200 a month, but if you are comfortable with that amount not being available (it can go down), it's a start. I'd encourage you to start reading about investing (anything by Jack Bogle) so as you can begin to make other choices with your money later on.

-- Rita
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Old 11-25-2008, 06:09 PM   #3
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Hola Fatman and welcome!

You're saving, regularly, that's a great start. Keep reading the forum -- there are a lot a good FAQs available and lots of folks posting good information. Educate yourself over time and you'll be able to tune your investment strategy.

Are you investing in an IRA?

I do think you've picked a great time to start buying.

Coach
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Old 11-25-2008, 06:13 PM   #4
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Welcome Fatman.

Just had a conversation with one of my team; she is 26 and has been investing for a few years: "I've got an emergency fund, but the rest is all going into high risk stuff (read: a balanced fund) and I'm not touching it for 30 years. I'm not looking at my statements".

There is hope for Generation Y!

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Old 11-25-2008, 08:51 PM   #5
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Quote:
Originally Posted by fatman22 View Post

I am a single full time student (27), I have 35 years until FIRE, I beg borrow and steal to make $27K, (hence the full time student-part :-) and am probably doing this all wrong, but heck, gotta start somewhere.
You might be surprised that you don't have to wait until you are 62. I started investing when I was about the same age as you and I made less and lived in very expensive cities. The key for me was that I always made those investment 'payments' to myself and I always lived below my means. Also, I made a lot of mistakes along the way but time and consistency smoothed over all those issues so that today -- in midlife -- I can see it all get flushed down the National Money Hole. But hey, I did my part. You might be starting out at a very propitious time since the market might actually be near a bottom. Good luck and welcome.
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Old 11-26-2008, 01:52 AM   #6
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Hi and welcome.

As noted, now is the time to start. And maybe you won't have to wait 35 years to FIRE.
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Old 11-26-2008, 05:54 AM   #7
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Bienvenidos El Gordo:

Sounds like you have made the most important step of all - realizing that you need to plan for the future. Now, just LBYM, save and invest regularly and I'll bet you won't need to wait 35 years.

Best wishes,

Gumby
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Old 11-26-2008, 07:11 AM   #8
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cliche du jour - "the race is often won by taking the first step."

welcome and good to see you have a plan.
stick around - there are some very smart folks here and we will often post links to resources for planning and strategies.
ask any and all questions.

cliche du jour, part II - the only dumb question is the one that goes unasked.
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Yes, it is a Roth IRA.
Old 11-26-2008, 07:53 AM   #9
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Yes, it is a Roth IRA.

Quote:
Originally Posted by Coach View Post
Hola Fatman and welcome!

You're saving, regularly, that's a great start. Keep reading the forum -- there are a lot a good FAQs available and lots of folks posting good information. Educate yourself over time and you'll be able to tune your investment strategy.

Are you investing in an IRA?

I do think you've picked a great time to start buying.

Coach
Yes, It is a Roth IRA. Thank you everyone for your greetings. I am reading some the FAQ sections now. (This place is great, of all the time I've spend online in the last few years, If i'd only been here instead of facebook, & youtube.
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