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10-03-2007, 02:17 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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If you can't afford it, don't buy it.
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10-03-2007, 02:36 PM
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#22
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Quote:
Originally Posted by cj
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
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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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10-03-2007, 02:49 PM
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#23
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Full time employment: Posting here.
Join Date: Mar 2005
Posts: 927
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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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10-03-2007, 03:29 PM
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#24
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Full time employment: Posting here.
Join Date: Apr 2003
Location: Leesburg, VA
Posts: 904
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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.)
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10-03-2007, 03:51 PM
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#25
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Quote:
Originally Posted by MikeD
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.)
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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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10-03-2007, 04:00 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,781
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You can only spend it once!
__________________
In a panamax down by the river.
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10-03-2007, 05:39 PM
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#27
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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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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10-03-2007, 06:20 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Mar 2005
Location: yonder
Posts: 2,851
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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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10-03-2007, 06:22 PM
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#29
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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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...
10-03-2007, 06:30 PM
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#30
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Location: Bossier City
Posts: 2,183
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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.
__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy
“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
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10-03-2007, 06:46 PM
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#31
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Dryer sheet aficionado
Join Date: Jul 2007
Posts: 35
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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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10-03-2007, 07:16 PM
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#32
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Dryer sheet aficionado
Join Date: Aug 2005
Posts: 30
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Marry the right one
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10-04-2007, 01:21 AM
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#33
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Recycles dryer sheets
Join Date: Jul 2007
Location: East Bay CA/Long Island NY
Posts: 167
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from Albert Einstein
“The most powerful force in the universe is compound interest”
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10-04-2007, 02:26 AM
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#34
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Full time employment: Posting here.
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
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Pay yourself first (regular saving/ automatic budget)
__________________
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10-04-2007, 08:57 AM
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#35
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by redduck
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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Another take on that, courtesy of Baron Rothschild:
"Fortunes have been made by selling too soon"........
__________________
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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10-04-2007, 09:05 AM
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#36
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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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."
__________________
"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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10-04-2007, 10:15 AM
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#37
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Full time employment: Posting here.
Join Date: Aug 2006
Location: athens
Posts: 802
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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
__________________
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
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10-04-2007, 10:48 AM
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#38
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,865
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"Make a net worth statement and update it regularly." -- My former stockbroker.
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.
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10-04-2007, 01:08 PM
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#39
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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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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10-04-2007, 02:19 PM
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#40
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Full time employment: Posting here.
Join Date: May 2006
Posts: 857
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"The bottom line is the bottom line."
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