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Help! Education Needed Fast!
04-03-2008, 02:18 PM
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#1
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Confused about dryer sheets
Join Date: Mar 2008
Posts: 2
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Help! Education Needed Fast!
I've just retired. Sold most of my assets & i'm sitting with a fair amount of CASH that I need to invest quickly so as to earn some income.
What is the easiest & fastest way to learn about investing? I know very little about it.
Thanks.
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04-03-2008, 02:20 PM
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#2
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Recycles dryer sheets
Join Date: Mar 2008
Location: Washington, DC
Posts: 75
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What assets did you sell and why did you feel the need to sell them now?
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04-03-2008, 02:28 PM
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#3
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Moderator Emeritus
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
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Welcome to the board.
It's a hopelessly broad question, though you could start here. I'd look for book recommendations, but without knowing more, even that is hard to define.
Perhaps you could fill in some details of your situation - you'll get better replies. How old are you, what are your financial goals, how much do you have in which types of assets (rough numbers), etc. If you are uncomfortable posting real numbers, at least generalities.
Lots of helpful and experienced people here, so the more you share the more you'll learn. I note you are from Ontario, and there is an active group of Canadian members who can help you with country-specific issues, too.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
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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04-03-2008, 02:28 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Get the education fast. Invest back into the market slowly.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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04-03-2008, 10:26 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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Quote:
Originally Posted by Heavenly2222
I've just retired. Sold most of my assets & i'm sitting with a fair amount of CASH that I need to invest quickly so as to earn some income.
What is the easiest & fastest way to learn about investing? I know very little about it.
Thanks.
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Welcome Heavenly;
I would recommend first do nothing quickly except park your hard earned money in a Prime money market fund at Vanguard or Fidelity. Yeah the rates suck right now but it is safe and earning you something. Then sit down and read the various book recommendations here and at the bogleheads ( Welcome) site about investing. Once you start getting a plan together post it here or at the bogleheads site to get feedback (which you will in spades!). Good Luck
DD
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04-04-2008, 06:57 AM
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#6
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Confused about dryer sheets
Join Date: Mar 2008
Posts: 2
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Thank you all. When I said I sold most of my assets, what I was referring to is I sold my business & most real estate. Don't want the aggrevation of working to manage these any longer. I'M RETIRED!
I'd like to invest in secure investments & get the best returns possible. (I guess like most retirees). It's just that I don't know much about this form of investing. I need to educate myself, but don't want to spend a lot of time running around in circles, thus, any suggestions on a fast efficient educational process is appreciated.
Again, thanks to all.
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04-04-2008, 07:06 AM
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#7
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Full time employment: Posting here.
Join Date: Sep 2007
Posts: 514
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How much cash are we talking about here? What's the dollar amount?
Do you have any other sources of income (pensions, social security, annuities, etc.)?
What's your current age?
How much are your annual expenses? How much do you need this nest egg to generate each year?
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04-04-2008, 07:20 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by kombat
How much cash are we talking about here? What's the dollar amount?
Do you have any other sources of income (pensions, social security, annuities, etc.)?
What's your current age?
How much are your annual expenses? How much do you need this nest egg to generate each year?
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One more: Is this money you think you'll need to fund your own retirement or is something more likely to be passed on to heirs? If the former, how much income do you need from it relative to the size of the lump sum?
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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04-04-2008, 07:30 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Four more questions, the answer to which will depend on previous questions.....to make it easier for board members to advise you.....
Do you have any debt?
Which of these three things do you most want your money to do?
1. keep the capital intact
2. generate income
3. grow
What is your current level of financial knowledge?
1. you have a bank account and know how to balance your chequebook
2. #1 and you hold and understand fixed income and equities
3. #2 and you know your NW and understand the importance of MERs and asset allocation
4. #3 and you can name four alternative investments
5. #4 and you know your IRR for the last 10 years
Do you currently have a financial advisor, and how is s(he) paid?
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