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Old 10-03-2007, 03:17 PM   #21
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If you can't afford it, don't buy it.
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Old 10-03-2007, 03:36 PM   #22
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In 1994, we paid $75 to a financial advisor to assess our financial situation. He sold us a 6.5% zero coupon bond (muni, no taxes) so I guess he made a little more on the transaction, but it was a decent investment.

CJ
I bought into a zero coupon target bond fund (2015) years ago for just a small part of my portfolio. I see it's up again today. Someone asked Bob Brinker what he would recommend for a real disaster (like losing a city) and he said zeros. I would be curious to know what other financial experts here think about them.
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Old 10-03-2007, 03:49 PM   #23
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I read "Your Money or Your Life" and started to think of the money I earned and the stuff I bought with it in terms of life energy.
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Old 10-03-2007, 04:29 PM   #24
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The best advice of any kind that I have ever revd was from my mother. It was "No." It was her answer when we asked for stuff. I don't think people heAR THAT FROM THEIR PARENTS ENOUGH.

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Old 10-03-2007, 04:51 PM   #25
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The best advice of any kind that I have ever revd was from my mother. It was "No." It was her answer when we asked for stuff. I don't think people heAR THAT FROM THEIR PARENTS ENOUGH.

mIKE d.

(Damn the placement of that caps lock key.)
Yeah, my parents gave us an exact dollar amount for X-mas, they covered the tax and shipping costs. It was so much fun planning what to buy looking at the "wish book" catalogs. We would add it up, and change our minds, etc. No to everything else was understood.
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Old 10-03-2007, 05:00 PM   #26
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You can only spend it once!
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Old 10-03-2007, 06:39 PM   #27
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Don't put all your eggs in one basket and cut your losses earlier, not later (both useful when company stock in 401K tanked--five years later some people are still waiting to cut those losses).
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Old 10-03-2007, 07:20 PM   #28
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Well, it was something I've read more than a few times: (hope I'm getting this correct):

No one has ever gone broke taking a profit.
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Old 10-03-2007, 07:22 PM   #29
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From my grandfather ,"Be a nurse ,you'll always have a job ".
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From an uncle who was a POW in WWII...
Old 10-03-2007, 07:30 PM   #30
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From an uncle who was a POW in WWII...

I know somebody already said it, but my now deceased Uncle Henry, who was a POW in WWll, helped build the Hoover Dam and many other things told me many times to always "pay yourself first". I believe he also told me to "use your head for something besides a hat rack"! Between he and my father, I think I got at least some of the messages.
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Old 10-03-2007, 07:46 PM   #31
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Credit Card

Use the credit card to pay for something only if you have the cash to pay for it.

If you cant pay for it in cash, don't even think about it.
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Old 10-03-2007, 08:16 PM   #32
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Marry the right one
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Old 10-04-2007, 02:21 AM   #33
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from Albert Einstein

“The most powerful force in the universe is compound interest”
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Old 10-04-2007, 03:26 AM   #34
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Pay yourself first (regular saving/ automatic budget)
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Old 10-04-2007, 09:57 AM   #35
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Quote:
Originally Posted by redduck View Post
Well, it was something I've read more than a few times: (hope I'm getting this correct):

No one has ever gone broke taking a profit.
Another take on that, courtesy of Baron Rothschild:

"Fortunes have been made by selling too soon"........
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Old 10-04-2007, 10:05 AM   #36
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i never got a bunch of money advice. my parents taught mostly just by example. though the ol'man wouldn't let me take the boat out by myself "until you can afford to pay for the damage you might do." fortunately my bud's parents were more lenient <evil grin>. and i picked up on something else someone once said "buy the best and cry once" which seemed to hold true for a while, until the last few years when even the best is pretty much just more crap.

i gave financial advice to my sil one time when she was a worse spender than today (actually she's improved hugely). i got fed up with her attitude one day and snapped back "if you keep spending money like you do one day all the merchants in town will have all your money and you'll have none."
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Old 10-04-2007, 11:15 AM   #37
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Dad: "Pay yourself first."

Company comptroller/friend:"Get all 401k money in equities and out of those damn income investments."

Close friend: " Buy investment real estate. Use leverage with minimal risk."

Best day's work: my marriage day
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Old 10-04-2007, 11:48 AM   #38
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"Make a net worth statement and update it regularly." -- My former stockbroker.

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Old 10-04-2007, 02:08 PM   #39
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'God Looks After Drunkards, Fools, and The United States of America.'

So invest - dollar cost average, don't waste time reading a lot of stupid investment books,keep the faith AND don't do a lot of thinking, put it on auto pilot and DO NOT keep checking on it.

heh heh heh heh - I made the last part up. Hindsight says I had to make every investment mistake in the book before I got to pssst Wellesley or balanced index aka Target Retirement. Except perhaps commodities.

'Do or do not - there is no try' - Yoda.
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Old 10-04-2007, 03:19 PM   #40
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