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O/T Early Retirement (USA Today)

Discussion in 'Uncategorized Threads' started by incognito, Nov 5, 2007.

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  1. incognito

    incognito TS Member

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    So the lesson here is to make sure you pick a good stock broker????
     
  2. timb99

    timb99 Well-Known Member

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    Remember,

    "Past performance is no guarantee of future results."

    Who's at fault here? The guy who told him there'd be palm trees and paradise, or the guy who believed him?
     
  3. Setterman

    Setterman Well-Known Member

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    or a second opinion?
     
  4. trim tab

    trim tab Active Member

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    Lesson is don't do stocks. Don't ike somebody else counting my money abndif the Stock Broker was so great why isn't he retired. When you are in stocks you are gambling. Always remember, a stock broker doesn't make a penney unless he sells something.
     
  5. grnberetcj

    grnberetcj Active Member

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    Jimmy Hoffa made some bad loans a few years ago too.

    The best and only "Money Manager" you can have is yourself. Pay attention, study, seek advice from knowledgeable persons, but the decisions should be made by the retiree (owner of the money).

    Curt - Delaware
     
  6. mizzou

    mizzou TS Member

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    Earl: Your second sentence above is not true..Mizzou
     
  7. TommyTEREX

    TommyTEREX Member

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    I was forced to retire do to injury. There was a settlement, which I spread amongst several CDs. A couple of people told me I was a fool, stocks were the only way to. They are now close to broke, and my income is just fine. Every so often, ( being the pot stirring type that I am) I remind them who was the fool.

    Bottom line ,I wouldn`t trust anyone to handle my hard earned dollars. And before it starts if you don`t think a broken back, and 6 vertebra being fused is hard work, try it!

    Tom R.
     
  8. alf174

    alf174 Member

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    Don't put all of your eggs in one basket.
     
  9. mizzou

    mizzou TS Member

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    Tom: Do your perform all your own dentistry and surgery too. Mizzou
     
  10. smartass

    smartass TS Member

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    Earl, what he means is your ridiculous statement that savings return as much as equities (stocks). The truth is that, over the long term, equities have beat any and all other investments. If you want to get ahead of inflation you have no choice but to invest in stocks or real estate since the real rate of return on bonds is usually close to zero.

    As to the example in the first post, anybody who believes that he'll get a 400% rate of return in 10 years is an idiot who doesn't deserve to keep his money.
     
  11. Tripod

    Tripod Well-Known Member

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    Iowa man!!
    I took my severance to the casino. got it over real quick. Been retired since October of 2001. All I do now is garden, shoot trap and hunt. Oh yeah, laundry, dishes and cooking too.
     
  12. TommyTEREX

    TommyTEREX Member

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    mizzou, Yes I do, I also perforn my own lobotomies. LOL

    Tom R.
     
  13. Easystreet

    Easystreet Well-Known Member

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    There is an old saying that "A fool and his money are soon parted." Some people work hard all their lives and save their money only to lose it at retirement time due to being scammed by some con artist.

    If you don't know anything about managing money and are not willing to learn, then put your retirement nest egg into federally insured certificates of deposit. They don't pay a hell of a lot of interest, but at least they are safe...... up to a certain point. At least, with your money in CD's, you'll go poor at a much slower rate instead of losing it all in a very short period of time. In fact, if you have enough in CD's, you won't go poor at all in your lifetime.

    Sure, we hear these stories about someone who lost their retirement due to turning their money over to some shyster to manage for them. I'm sure that many of these stories are true, but that doesn't mean that no one should ever invest in the stock market. It just means that you need to do enough investigating to determine what the risk is with ANY type of investment.

    There is another old saying "Don't put all your eggs in one basket." So even if you do decide on a particular type of investment vehicle, it's better to spread the money around to several different investments just in case that one of them goes bad for some reason.
     
  14. incognito

    incognito TS Member

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    According to some of you, I am a fool, but this fool is laughing all the way to the bank. I have a friend that manages my portfolio, with some input from me. He doesn't charge me very much and he is really good at predicting hot new stocks. We've lost on a few, but have gained on many more. The value of my portfolio has doubled in the past 4 years. Most of it is in Dow, but some in S&P. I keep about 75% in steady reliable stocks, and we play "games" with the other 25%.
     
  15. XTFreak

    XTFreak TS Member

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    Learn how to manage your own portfolio .... NEVER give another instituion 100% control of your investments.

    There are a lot of fly by night financial "gurus" out there .. do your research and you will be sure to reap the rewards.
     
  16. Ahab

    Ahab Well-Known Member

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    I made a small fortune on risky stocks....unfortunately, I started with a large fortune!
     
  17. Phil E

    Phil E TS Member

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    The return on savings is but a fraction of the return on the stock market. "The average compound rate of return on stocks...was...10.0% from 1926 to 1991." (This includes the crashes of 1929 and 1987.) This is not to disagree with those who caution that most people should not ever buy stocks. But it is an argument for owning & long-time holding some good no-load index mutual funds as a part of one's savings. Phil E
     
  18. Bruce Specht

    Bruce Specht Well-Known Member

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    The lesson is to review your holdings and your broker on a yearly basis. The only things these stock picker have to loose is your money.
     
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