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How did you get into the business? What's your strategy? I don't believe anything is guaranteed regardless of the type of investment. All you can do is limit your risk by using sound strategy, bountiful research, and continuous education. I don't believe it is a hands off, stress free...

I like the power of leverage and I think it is great diversification compared to the market. I'm always looking to find a different type of investment, so if there is something that works for you I'd be happy to hear about it. I ran some numbers below. If these seem a far cry from reality...

Thanks for the responses everyone. Lot's to "chew" on. I'd want to start small anyways, so maybe focusing on building up a down payment over the next 12-18 months is the way to go? Right now, I dump everything I can into my 401k. That doesn't offer much flexibility, so I'm considering...

I'm really getting the bug to start my rental property journey. My wife and I have been paying off debts with every extra dollar we have and I haven't set aside anything substantial for an investment property. Do I have any options? I'd imagine I'd pay higher rates, perhaps incur additional...

Well I think I found my part time biz. I'm really starting to research micro farming and backyard nurseries. I really enjoy doing this recreationally, so why not turn it into a business venture? There are many directions I could take it and I'm just starting to sort all of that out. However...

I like current data ;D

Boy, I sure brought out the know-it-alls, didn't I? :laugh: Thanks everyone for the links the previous polls. They will be helpful to trend data!

Hmm, I briefly searched, but didn't find this one. Same options in the poll too. Great minds think alike. :coolsmiley:

Simple poll to see where the majority of you land.

Haha, yeah I missed that one completely. One too many pops last night for me.

is this what your daughter did? If so, what is her blog?

How many of you had part-time businesses that you ran in addition to your full-time job that helped get you to your FIRE goals? What kind of businesses were these? Any advice for those looking to do so?

Hey birchwood, off topic, but are you in Aberdeen SD? I've got a project going on at nsu right now and have flown out there a couple of times and enjoyed my time there quite a bit.

I saw this article on Yahoo this morning. I agree with 70-80% being too high of a percentage of necessary pre-retirement income. I think this number (at least for me) is more like 55-65%. However, it states that an adviser in Texas tells his clients that they can pull out 5.5-6% over the...

My dad died on June 4th, 2010. In fact, today would have been his 61st birthday. I've had two dreams of him, within a couple months of him dying, that felt so real. In the first, my mom, dad, brother, myself, and our church's old youth pastor (and wife) were all gathered in a circle at our...

It seems every year they could be found on a list of companies most likely to fail. Sounds like it was a long-time coming. Given that, it's a wonder that while everyone else (authors of afore-mentioned lists) could see it happening, Kodak themselves couldn't find a way to turn things around.

Thanks everyone! I didn't expect that many responses, but it has provided some great insight and helped to clearly portray the level of commitment it will take. I love a good challenge and I'll get to tackle this one for years to come.

And you're okay with this?

Good question. I reviewed my Summary Plan Description just now and I don't see any wording that clarifies either way. I sent in a question to the help desk to find out more info. Thanks!

I guess I never thought about that. For me, I want to be able to choose from everything available. Clearly, that won't be happening. Of course I could minimize my 401k contributions and invest in a separate IRA, but then I would forgo the benefit of contributing my pretax income. I just hate...

I don't understand this. My company's plan offers 40 or so choices out of the thousands of funds available. Why should I be limited to these few? What is the reasoning behind it? If it helps, my 401k is through theonline401k.com.

I understand it's an account, but holding funds inside the IRA account will at least provide the possibility to earn a much higher return than a CD or savings account these days. Of course there is always the risk to lose, but even a conservative fund should earn a higher rate than these other...

Even if it is subject to IRS scrutiny/taxes, aren't the possible returns much higher than say a CD or savings account?

So you lump their money in with yours and keep track of it in a journal of some sort?

Stupid question, but how does this work when investing children's funds? I am essentially opening an a separate account in my name and investing their funds that way? How does it work when filing taxes and such?