Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:36 PM   #21
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,456
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Um, I am the go-to person for dogs and rural living and old cars....I don't do much mutual fund evaluation....

I know that we (the FA firm for whom I work) own and use Dodge & Cox, Artisan, and Fairholme funds as suggestions for folks whose accounts don't meet SAM minimums. We also like (& I own) T.Rowe Price Cap Appreciation, Oakmark Global, and American Funds Capital Income Builder. Not anything red-hot by any stretch of the imagination.

I think that you might best use this forum as more of a lifestyle guide, rather than for how your funds might stack up return-wise. Keep the thick skin going! There is some great information here for you if you keep reading!

Sarah
__________________

__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:42 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

I think your funds look OK, if rather epensive (lots of over 1% expense ratios and plenty of turnover), but it is clear that you are chasing performance. I also think that as a single guy with a high income, you would probably be better off in more tax eficient investments.

I wuld suggest you get out a spreadsheet and see what the variables look like. If you slug away $65k a year, you don't need to chase return to meet your goals.
__________________

__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:42 PM   #23
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

what's up air jordan? I'm kinda in your shoes - graduated law school at 23 (though not practicing). Putting away ~60-65k a year. Plan on hitting $1 million by 35 or a little sooner. Blah, blah, blah... But my weapon of choice is the index fund. Read Four pillars of investing by bernstein and keep an open mind. Expense ratios and costs do matter.
__________________
justin is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:52 PM   #24
Recycles dryer sheets
 
Join Date: Oct 2006
Posts: 80
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

First congradulations. This forum often hashes over the "Why others don't save for retirement" question. You, at a very young age, are dead on, focused, motivated, etc..

As others have mentioned, discussing a particular managed fund here is kinda dangerous. Please don't mention that you use an FA.

Lots can happen in 11 years. If you can keep to your plan, regardless of the final number in 11 years, you will have accomplished much and positioned yourself for many life options.

__________________
HelpMeRhonda is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:53 PM   #25
Thinks s/he gets paid by the post
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 2,398
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

I think the biggest obstacle to you succeeding is your attitude and maturity level. You come here and post something that is partly titled "punch holes in me plan" and then get upset and defensive when people give you some solid constructive criticism. I think you should be appreciative, not offended. I'm sure there are internet boards out there full of sycophants if that's what you really decide you want. But first I suggest you ask yourself if a bunch of people agreeing with you is going to increase your chances of achieving your goal or just make you feel better.

By the way, did you take much math in your undergraduate program? I was going to ask about logic as well but I would think that would come with the law degree. You might try reading up on reversion to the mean, the law of large numbers, volatility, the whole field of probability and statistics, economics, and finance. On the logic side you might read some of Bogle's more famous speeches and practice poking holes in his arguments.

Whoops, sorry...that was some more constructive criticism. Never mind.

2Cor521
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:53 PM   #26
Full time employment: Posting here.
bow-tie's Avatar
 
Join Date: Mar 2004
Posts: 687
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by justin
what's up air jordan? I'm kinda in your shoes...
Was that pun intended? Be careful, his newest versions are out (XXII), and they are 175 bones a pop... that's not very LBYM
__________________
Diggin' my way to financial freedom, one buck-at-a-time
bow-tie is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 02:54 PM   #27
Recycles dryer sheets
ScaredtoQuit's Avatar
 
Join Date: Jan 2007
Posts: 190
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by AirJordan
And if you want to know what I do, I graduated law school at 23, yeah I'm a wunderkind of sorts, and do title analysis for a big oil company (won't say which one). Yipes other message boards were much nicer than this one
It might not seem like it to you, but we ARE being nice to you. And you might not think it, but there are lots of "wunderkind" here on this board. For example, by the time I was 22, I had earned an MBA, a CPA, PLUS I had more than a year of experience under my belt. When I was 24, I bet I was just as arrogant as you were. But thirty plus years in the real world have humbled me and I am now much less likely to "lean unto my own understanding." There are plenty of others here who have even more impressive records of achievement. Cute and Fuzzy Bunny used to take home $1MM per year. Martha was a lawyer; Trombone Al had his own business, and Charles was a CFO of a major corporation. The point I am making is that these opinions are coming from folk with a broad range of experiences.

Listen to the voices on this board and you are likely to prosper. Ignore them at your own risk.

__________________
ScaredtoQuit is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 03:19 PM   #28
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

re: LCV and SCV - VIVAX and VISVX, respectively. That's my recommendation. disclaimer - I own both funds.
__________________
justin is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 03:47 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by eridanus
Q: Which actively managed fund has beat the S&P 500 for the past 15 years?
.
.
.
.
.
.
.
A: None! Legg Mason didn't make it last year. The next runner up is around 7 years.


Now all you have to do is pick which one will make the new record. You're a wunderkind. I'm sure you can do it!

I think you can make a LOT of money in actively managed funds............last time I looked, Vanguard had some of THOSE too..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:00 PM   #30
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 79
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by eridanus
Q: Which actively managed fund has beat the S&P 500 for the past 15 years?
.
.
.
.
.
.
.
A: None! Legg Mason didn't make it last year. The next runner up is around 7 years.


Now all you have to do is pick which one will make the new record. You're a wunderkind. I'm sure you can do it!
This is just argument is so incredibly myopic and inane that I don't even know where to start. DID YOU EVEN LOOK AT THE AVERAGE FOR 15 YEARS I guarantee you that Bill Miller is waaaay ahead of the SPX. How is that index treating you this year guys? I'm up 1.2% (S&P down -.5%) on the year, up 20.5% (S&P up 15%) for last year, oh noeesss!1!!! How is your precious SPX doing? Honestly for some people who claim to be so knowledgable, any two bit geek knows that the VTSMX will out perform your precious VFINX, AND THIS IS COMING FROM Bogle himself. I've read all the aforementioned books, also one by Malkiel, which is better than anything you mentioned.

Keep going with your haystacking, and keep getting slaughtered by actively managed funds. Seriously, when another bear market comes, what then? You'll still be fully invested while active managers will be hoarding there money waiting for the next steal. Back to the M*Star forums where people are at least a bit more open-minded, and astute.
__________________
AirJordan is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:20 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,633
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

This guy is not serious. Clearly a troll looking for fun. Not worth responding to.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:23 PM   #32
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 79
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

No I actually am serious, but I was just taken aback by the rudeness and ignorance here
__________________
AirJordan is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:24 PM   #33
Thinks s/he gets paid by the post
 
Join Date: Mar 2006
Location: Houston
Posts: 2,155
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

I kind of like reading his nonsense. It's entertaining
__________________
Sam is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:29 PM   #34
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 79
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Uhhuh, my nonsense like DODFX, will outperform VGTSX over the next 20 years.... right.... pure nonsense
__________________
AirJordan is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:30 PM   #35
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 79
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Serious question how much are you haystackers down for the year?

I told you where I'm at +1.2% as of 2/28, with the funds I've mentioned. Now where do you stand?
__________________
AirJordan is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:31 PM   #36
Recycles dryer sheets
 
Join Date: Feb 2006
Posts: 84
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by AirJordan
No I actually am serious, but I was just taken aback by the rudeness and ignorance here
Rude and ignorant...two I've never heard attributed to the board in general. Something about a horse and water comes to mind.

Somebody want to warn the M* folks?

Let's play his game and argue that Kobe is better.

devo
__________________
If you lend someone $20, and never see that person again, it was probably worth it.
devo is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:36 PM   #37
Thinks s/he gets paid by the post
 
Join Date: Mar 2006
Location: Houston
Posts: 2,155
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by AirJordan
I told you where I'm at +1.2% as of 2/28, with the funds I've mentioned. Now where do you stand?
I did a poll 2 days ago about the drop on 02/27, several people also reported YTD. Here's the link.

http://early-retirement.org/forums/i...?topic=12561.0
__________________
Sam is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:37 PM   #38
Recycles dryer sheets
 
Join Date: Jul 2005
Posts: 423
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

I say you dump dodge and cox, and stick it all in a microcap ETF. 20% annualized return for the past 10 years! Sure, that is only backtested data, but, good enough right Alternatively, you could travel back in time, and find a nice penny stock.

Seriously though, what I don't really understand, is your comparison of 1 fund to 1 index. I guess the S&P500 is a good and simple benchmark to compare against, but passive indexing doesn't mean stick everything in an S&P500 fund and sit back. You can slice and dice and even time to your heart's content. Small cap, midcap, emerging markets, whatever. *YOU* get to be the active portion of the passive investment...
__________________
Olav23 is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:39 PM   #39
Recycles dryer sheets
 
Join Date: Feb 2006
Posts: 84
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by AirJordan
Serious question how much are you haystackers down for the year?

I told you where I'm at +1.2% as of 2/28, with the funds I've mentioned. Now where do you stand?

You're chasing performance again. Maybe you just stumbled on the wrong forum. I think most here will tell that this year's performance, let alone last year's or the three before that, isn't considered in our plan. You being up 20% and us down 4% this year doesn't mean anything to this group. Sorry about that.

Excuse me, I have to get back to my free lunch.

devo
__________________
If you lend someone $20, and never see that person again, it was probably worth it.
devo is offline   Reply With Quote
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan
Old 03-01-2007, 04:45 PM   #40
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,068
Re: 24 year old trying to get to millionaire by 35, punch holes in me plan

Quote:
Originally Posted by AirJordan
Serious question how much are you haystackers down for the year?
AJ, welcome to the board...I think.

Hold off trading insults for a minute and take a step back to look at the situation if you would. Look at how you titled your thread. You asked for "holes" and got shelled. Don't get mad, ask why others (most of who have many, many more years of investing experience than you) are recommending a different direction, lower expectations, etc.

While you are at it, I would request both you and those responding to you keep it civil. I suspect few on this board have ever seen a haystack, so using that term and calling people ignorant might not be the best way to solicit advice...which is why you are here, right?

__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Poke holes in my new financial plan Zoocat FIRE and Money 16 03-11-2007 08:12 PM
35 buckets plan, starting WR of 7.4% - punch holes in me plan citril FIRE and Money 35 03-10-2007 06:46 PM
New retirement plan, 400 million in a year, no money down teejayevans Other topics 1 02-13-2007 01:38 PM
nTelos cell phone plan? Dreamer Other topics 3 07-14-2006 01:27 PM
Shoot holes in my plan or give me a sanity check frayne FIRE and Money 4 04-04-2004 04:48 PM

 

 
All times are GMT -6. The time now is 05:28 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.