Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

Yeah you're right. Every baby boomer was successful

 

Do not get this thread locked you.

I lived with my mom as long as I could, while saving and working, and bought a place. Moving out at 18 doesn’t make you any smarter than a guy living with parents working just as hard.

 

I should be the offended one I was called a grumpy old man, plus that dude just chimed in with nothing to do with the threads topic

 

https://www.forbes.com/sites/zackfriedman/2018/06/27/millennials-student-loans-housing/#572f439c226a dont read this if your easily offended by the truth

 

you are right, i'm sorry. name calling shouldn't happen in the investment thread. We can bash ideas, not the person saying the ideas..

 

why is stating that a lot of younger generation me included dont/didnt have a good handle of dealing with the value of money, as I stated id wish id had more financial training in high school,

 

you're right there. The only financial thing we did in school was learn to balance a check book and look at us now. We do not even use checks anymore, it's a rare occasion to write a check.

 

Anyways, I just added MINIX and GAIHX for long-term holdings so we will see

 

I read the book "Rich Dad, Poor Dad" every once in a while. Every time I read it, I seem to pick up some new ideas. If you haven't read it, it is about this exact topic, how financial education is not taught in school at any point in one's life. It basically teaches you to buy income producing assets, then live off of that income once it is enough. Don't spend your money on junk or you'll be in the Rat Race forever.

 

exactly, I swear I wish they had an investment strategies course in high school I would have been in a far better finically situation earlier in life, ive been playing catch up so I can be able to live more comfortabily now and when I retire, learn a lot reading these threads and thru my own researching and mostly from older people who know more than me

 

amen to that

 

Generalizing a group of people isnt a good look.

 

Almost there! What a hell of a ride it's been

 

goal should be to hold for minimum of 365 calendar days.. reduces your tax burden on capital gains

It does. It's called a decade of QE. LOL

That being said, I'm 28 and def know that liabilities make you LOOK rich, assets make you actually rich (pretty sure a RDPD lesson). I think there's a few of us 20 something's in this thread that have a similar mindset. Not all is lost on our generation - some of us still understand that investing in assets and securities is important.

On the flipside, there's a large group of "us" that don't believe in the markets, especially after the 2008 crisis, and are extremely risk averse when it comes to investing. Some of these will simultaneously burn money on frivolous items such as expensive trips, dinners, cars, apartments, etc. Spend it if you got it mentality. Then they get saddled with student loan, car, and credit card debt, and whine to big gubment to give them free stuff.

I have been driving my truck since high school with no plans to buy anything anytime soon. I bought a "new" low mileage 2006 GSXR in 2016 to be my "fun" vehicle. Other people I know go out and buy a brand new car as soon as they get a big boy/girl job, and they could have used that money for a down payment on a house (something is much less likely to depreciate.. and will never depreciate as fast as a car!), or not use it to pay off student loans for their underwater basket weaving degree.

Yet many millennials choose to burn money left and right. Subscription based models out the wazoo. Shopping at Whole Foods instead of Publix or Kroger. Mindlessly purchasing on Amazon without doing due diligence price checking on other sites, and the trips and dinners I mentioned before. It's all about instant gratification and doing it for "the gram" (the latest iteration of "keeping up with the jones').

Millennials are children to the QE model. Credit is cheap and plentiful, and savings accounts didn't pay close to inflation levels for a decade. So "spend it if ya got it" is an idea that has subconsciously permeated an entire generation, thanks to the financial crisis and the Fed ZIRP. Meanwhile, anyone who chose to invest money during that time period would be rich and reaped the benefits of one of the greatest and longest bull markets in history. I was quite a bit late to the party since I graduated college in 2014, but I'm trying to get my bearings and assess risk factors such as global growth, trade policies, Fed policies, etc.

Speaking of which, the Fed press conference is 2PM (eastern?) today I believe.

 

The worse decisions others my age make the better it is for me. Let the cream rise to the top

 

exactly. Unless everyone votes for socialism. Then I'll be working remotely from the cayman islands or some shit.

 

I see friends blowing money and i'm thinking that's cool and fun and all, but did your net worth rise this week?

No one my age is thinking of when they're 40, 50, or 60 retiring.

 

The cognitive dissonance among folks that want socialism to help them, while simultaneously complaining that social security is not a sufficient safety net is astounding, considering Medicare and SS are approximately 60-70% of the entire federal spending, and we are 22 trillion dollars in debt. LOL.

 

Fed leaves rates unchanged, no rate hikes this year.

Good for me because I'm looking at buying new construction sometime in August/September!

 

So interest rates aren't changing?

I'm trying to buy rental properties so I would refinance my house since I get tax breaks there and pay cash for the rental..

Rental properties scare me, but I've been reading a fair amount. if we do face rate hikes and people can't get loans at least rentals become more appealing.

Anyone have a book or blog website they've read and looked to for pointers on rental properties.