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Old 10-17-2007, 08:56 AM   #21
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Originally Posted by dmpi View Post
I rate myself as follows:
1. Super Saver
2. Good Household Income
3. Average Investor
Ditto. I've focused my time & efforts on improving #2 and making sure I've got the basics covered on #3 (asset allocation, lost cost funds).

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Old 10-17-2007, 09:10 AM   #22
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Same with me - super saver, average but agressive investor.

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Old 10-17-2007, 09:32 AM   #23
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Originally Posted by audreyh1 View Post
4) Just damn lucky!

That's me all the way.
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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Old 10-17-2007, 09:39 AM   #24
Recycles dryer sheets
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Pretty good saver.
Really, really poor investor (lets load up on that MegaTech company stock in 2000) who only found mutual funds in the past couple of years.
Above average income. (And MegaTech options and bonuses while the stock was tanking.)

Life is a Holiday!
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Old 10-17-2007, 09:41 AM   #25
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Super saver for sure. I'd say slightly above average investor because I invest in low cost index mutual funds and have an aggressive portfolio. Put my low costs up against the average investor, and they are paying tons more in expense ratios, loads, fees, management/wrap fees, and taxes. Squeezing out an extra percent or two each year from extremely low overhead costs and tax efficiency adds up over time.
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Old 10-17-2007, 10:20 AM   #26
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I also want to add, Income, Saving, and Investing doesn't quite tell the whole story.
Also important is your ability to:
1. Reduce taxes by good tax planning.
2. Find non-performing assets and turn them into investable assets.
So many people have more stuff then they need, makes sense to sell it, and then invest the proceeds.
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Old 10-17-2007, 09:55 PM   #27
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Definitely not a great saver. Not terrible, but not great.

I don't think that anyone knows for sure if they are a great investor. Personally, I've had a great run since 2000 due to oil prices rising quickly while interest rates dropped. Is it fate, good luck, good investing intuition, or some happy combination? I'll never know with any real degree of certainty, and anyone who picks a winning stock can never know for sure if they were just lucky. You can spot an arrogant person when you hear them tell you that they are a great investor. There were lots of self proclaimed great investors just before the .com crash.
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Old 10-18-2007, 08:00 AM   #28
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1)Good Saver

2)Good investor (lucky)

3)Believe in the markets..........
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.........:)
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Old 10-18-2007, 10:26 AM   #29
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I was lucky to be in the market during several really good bull runs.
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Old 10-18-2007, 02:25 PM   #30
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It seems that we should add a few criteria. I propose the following:

1. Saving ability
2. Investing ability
3. Time in the market
4. Income
5. Tax management

Did I miss anything?

Personally, I'd rank myself as follows...

1. Above average (30-35% of gross income)
2. Average (index funds)
3. Average (started at 25, but only at a small % of income back then)
4. Above average ($100k household)
5. Average (not really sure about this one)
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Old 10-18-2007, 03:34 PM   #31
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Originally Posted by DallasGuy View Post
Many of you have substantial portfolios...I'm just curious...How did you get to that point? By:
1) Being a Super Saver - able to save way more than the average person?
2) Being a Super Investor - able to create a much higher investment return than the average person?
I am good saver not a great one. I've always LBYM, and been good about not buying expensive toys, but I'm far from perfect. (Expired rebates are my downfall). I certainly always maxed out my 401K.

I did get very lucky with one stock, which I am sure has boosted my average return above the markets.

I would classify myself as much better than average investor. Not because my stock and mutual fund picks are particular brilliant, it is because the average person does such a lousy job investing. It is kinda of like holding a high jump contest at overweight dwarf vertically challenged persons convention, you just have to not suck to win.

The average investor does these dumb things
  • Keeps thousand of dollars in zero or low interest checking and savings accounts
  • Buys load mutual funds
  • Uses a high priced financial advisors or full service broker
  • Buys an annuity and the real dumb ones buy them within an IRA
  • Keeps most of their 401/IRA money in money markets/CD when they are young.
  • Keeps all of their money in aggressive stocks/stock funds when they are old
  • Doesn't sell their company stock until it is too late.
  • Doesn't max out their 401K
  • Listens to Cramer, Suze, and believes there really is a Rich Dad and Poor Dad
  • Doesn't read investment books much less good ones by Speigel, Bernstein, Lynch, Graham etc.
  • Wants to buy stocks after the market has gone up 30% and want to sell them when the market has dropped 30%
  • Perfectly ok buying an internet stock in 2000 but not a financial stock in 2007.
  • Buys a time share as an investment
  • Looks at cash flow and not the APR when borrowing money for a house or rental property.
I've done a few of these things but never more than once. I think this makes me and the vast majority of the folks on this board super investors.

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